Canadian equities traded on a slightly positive note on Wednesday as the Bank of Canada’s (BoC) decision to cut interest rates by 25 basis points comforted investors even as the U.S. Federal Reserve held rates steady, highlighting a data-dependent approach for future adjustments. After rising as much as 135 points in intraday trading, the S&P/TSX Composite Index ended the volatile session with a 54-point gain at 25,473.
While the Fed’s cautious approach triggered a selloff in many sectors like healthcare, real estate, and consumer discretionary, healthy gains in mining and energy stocks provided much-needed support for the TSX, allowing it to close in positive territory.
Notably, during the latest monetary policy press conference, BoC Governor Tiff Macklem highlighted risks related to potential trade conflicts with the United States. Macklem said, “The potential for a trade conflict triggered by new U.S. tariffs on Canadian…
