The S&P/TSX Venture Composite Index (INDEXTSI:JX) lost ground this past week, dropping 6.65 points to close at 530.85. The decline came as other major indexes gained after the final US Federal Reserve meeting of the year.
In a post-meeting statement, Fed Chair Jerome Powell said the Federal Open Market Committee is pleased with the overall progress made against inflation so far, but isn’t willing to declare victory. Although interest rate hikes are unlikely to continue and 2024 may bring cuts, the central bank will continue to make decisions based on available data.
Markets reacted strongly to the news, with the Dow Jones Industrial Average (INDEXDJX:.DJI) reaching an all-time high, breaking through 37,000 points on Wednesday (December 13). The NASDAQ 100 (INDEXNASDAQ:NDX) also jumped to record highs, while the S&P 500 (INDEXSP:.INX) came close, closing above 4,700 points the first time since January 2022. North of the border, the…
