Investing.com — Canada’s main stock index continued to climb on Thursday, as markets cheered further comments from Fed Chair Jerome Powell, testifying today before the Senate Banking Committee.
Powell reiterated yesterday’s messaging that rate cuts are coming later this year, keeping alive bets of a move from the Fed in June.
The commodity heavy Canadian index gained further support from miners with gold at record highs as markets anticipate U.S. rate cuts. The Jones, S&P500, and were also firmly in the green, supported by megacap and chip stocks.
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Toronto Stock Market News
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