Despite continued weakness in commodity prices across the board, Canadian stocks climbed for the fifth straight session on Wednesday as investors reacted positively to a slightly cooler-than-expected U.S. consumer inflation report, which raised the possibility of a rate cut in the Federal Reserve’s next meeting. The S&P/TSX Composite Index rose by 142 points, or 0.6%, to settle at 22,760, marking its longest winning streak in a month.
On the one hand, falling gold, silver, and copper prices drove the shares of many mining companies lower. On the other hand, strong gains in other key market sectors, including healthcare, technology, and industrials, guided the TSX index higher.
According to the latest report by the U.S. Bureau of Labour Statistics, the consumer price index in the country ticked up by 2.9% over the past 12 months, registering the smallest annual increase since March 2021.
Top TSX Composite movers and active stocks
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