Sunday, November 23rd2.2°C
24188
24056

Fed stimulus hope moves markets

The Toronto stock market was higher Wednesday as commodity prices gained ground and traders looked ahead to another dose of economic stimulus from the U.S. Federal Reserve.

The S&P/TSX composite index rose 30.56 points to 12,312.92 while the TSX Venture Exchange edged up 3.09 points to 1,187.02.

The Canadian dollar rose 0.06 of a cent to 101.46 cents US.

U.S. markets also advanced amid hopes for a resolution to the so-called fiscal cliff, an end-of-year deadline when automatic steep spending cuts and significant tax increases are set to take place. With economic growth already weak, the worry is that the two moves would slash growth further and send the U.S. back into recession, sending shockwaves around the world.

The Dow Jones industrials gained 25.04 points to 13,273.48, the Nasdaq was up 1.22 points to 3,023.52, and the S&P 500 index rose 2.52 points to 1,430.36.

The Fed is widely expected to announce a new bond-buying program at the end of its two-day policy meeting later Wednesday to replace one that's about to expire.

The Canadian Press


Read more Business News




Recent Trending




Today's Market
S&P TSX15111.13+35.95
S&P CDNX789.135.56
DJIA17810.0691.06
Nasdaq4712.97+11.102
S&P 5002063.50+10.75
CDN Dollar0.8908+0.0011
Gold1197.70+10.60
Oil76.51+0.87
Lumber331.00+4.50
Natural Gas4.266-0.253

 
Okanagan Companies
Pacific Safety0.155-0.005
Knighthawk0.01-0.005
QHR Technologies Inc1.30+0.03
Cantex0.04+0.005
Anavex Life Sciences0.178+0.008
Metalex Ventures0.03+0.005
Russel Metals31.62+0.82
Copper Mountain Mining2.24+0.06
Colorado Resources0.125-0.015
ReliaBrand Inc0.013-0.002
Sunrise Resources Ltd0.050.00
Mission Ready Services0.35+0.015

 
23744




FEATURED Property
20892954896 Lakeshore Road
4 bedrooms 6 baths
$6,495,000
more details
image2image2image2
Click here to feature your property
Please wait... loading


What I learned in China: Part 2

As per my previous article on my visit to China, we have much to learn about and from their people. It is potentially the largest market on earth with 1.3 billion people in one country but much will d...


Retirement: Health Issues

Our health is really our greatest asset and maintaining our health is of tremendous importance. You want to do what you can to ensure that health issues will not jeopardize the enjoyment of your retir...


Be quiet already!

No, you’re not crazy. There really are voices in your head. Voices that keep you from doing what you need to do during your customer care calls. It can be the voice of your teachers, your parent...

_



24119

24207


Member of BC Press Council


23369