Canada’s main stock index dipped on Monday while U.S. markets rose, keeping American stocks near record highs.
The S&P/TSX composite index slipped 51.22 points to 21,587.88.
In New York, the Dow Jones industrial average was up 188.94 points at 38,778.10. The S&P 500 index was up 41.63 points at 5,473.23, while the Nasdaq composite was up 168.14 points 17,857.02.
In both countries, markets are still acclimating to the first cut to the benchmark interest rate in Canada in four years earlier this month, as well as the U.S. Federal Reserve’s decision to hold rates steady last Wednesday.
“The market continues to absorb the Federal Reserve decision last week and the Bank of Canada decision the week before. We saw a little bit of movement on the U.S. side, but Canada is flat for the day,” said Ashish Utarid, assistant vice-president of investment strategy at IG Wealth Management.
