Canadian stocks turned slightly positive on Wednesday after sliding for three consecutive sessions as cooler-than-expected U.S. consumer inflation and retail sales numbers gave strength to the possibility that the Federal Reserve will soon start slashing interest rates. The S&P/TSX Composite Index rose 41 points, or 0.2%, yesterday to settle at 22,285.
Although shares of some healthcare and consumer non-cyclical companies trended downward, solid gains in other key market sectors, like utilities and technology, guided the TSX benchmark higher.
According to the U.S. Bureau of Labor Statistics, the consumer price index for all urban consumers climbed by 0.3% in April 2024 due mainly to higher shelter and gasoline indexes, following a 0.4% increase in March.
Top TSX Composite movers and active stocks
Orla Mining (TSX:OLA) jumped more than 9% to $5.69 per share, making it the top-performing TSX stock for the day. This rally in OLA stock…
