TORONTO — Strength in technology and utility stocks helped Canada’s main stock index inch higher Wednesday, while U.S. stock markets rallied to new record highs after a pair of reports on inflation and retail sales.
TORONTO — Strength in technology and utility stocks helped Canada’s main stock index inch higher Wednesday, while U.S. stock markets rallied to new record highs after a pair of reports on inflation and retail sales.
“All eyes were on inflation this morning,” said Danick Dutrisac, vice-president and portfolio manager at Fiduciary Trust Canada.
The U.S. inflation report came in slightly lower than expected, said Dutrisac. That’s likely good news for the U.S. Federal Reserve, he added. The central bank has been holding its key interest rate steady as the economy remains resilient, so any data that indicates cooling gives investors hope for cuts in the future.
Markets have reacted positively to the…
