By Nikhil Sharma and Lisa Pauline Mattackal
(Reuters) -Canada’s main stock index was little changed on Wednesday, after U.S. inflation data was in line with expectations and did little to change bets on a September interest-rate cut by the Federal Reserve.
At 10:05 a.m. ET, the Toronto Stock Exchange’s S&P/TSX composite index rose 22.47 points, or 0.04%, to 22,626.49.
A closely watched U.S. inflation data print showed consumer prices rebounded as expected in July, but the trend remained consistent with subsiding inflation.
“We’re seeing a slowdown in the economy in the U.S., but not too much. I think these numbers support a soft landing, and that is obviously a positive for Canada as well,” said Allan Small, senior investment advisor at Allan Small Financial Group with iA Private Wealth.
However, investors trimmed bets on a larger-than-expected interest-rate cut of 50 basis points, with a more typical reduction of 25 basis points now…
