Industrial and mining stocks helped boost Canada’s main stock index on Thursday, with extra support from the health care and utilities markets. Gains on the TSX were capped by losses among the energy, financial, and tech sectors. Traders on both sides of the border spent the day reevaluating their expectations of the first rate cut to May by the U.S. Federal Reserve.
Coming off a poor session, Wall Street’s main indexes also moved higher following the latest wave of quarterly corporate earnings. Honeywell lost nearly 3 per cent after a Q4 revenue miss and chipmaker Qualcomm fell more than 5 per cent when its Q1 earnings beat couldn’t draw attention from lower-than-expected revenue guidance.
The Canadian dollar traded for 74.70 cents compared to 74.39 cents U.S. on Wednesday.
U.S. crude futures traded $1.83 lower at $74.02 a barrel, and the Brent contract lost $1.68 to…
