June 12 (Reuters) – Canada’s main stock index gained on Wednesday after U.S. consumer prices data showed signs of cooling inflation ahead of the Federal Reserve’s rate verdict later in the day, while rising commodity prices also provided support.
At 10:05 a.m. ET (1405 GMT), the Toronto Stock Exchange’s S&P/TSX composite index (.GSPTSE), opens new tab was up 210.67 points, or 0.96%, at 22,098.01.
Wall Street also jumped at the open, with the benchmark S&P 500 (.SPX), opens new tab and the Nasdaq touching fresh record highs as the U.S. Consumer Price Index (CPI) data from May, which remained unexpectedly unchanged, boosted investor hopes for rate cuts by the Fed.
Market participants will now turn their focus to the U.S. central bank’s policy announcement scheduled at 2:00 p.m. ET.
“Given the timing of the CPI, the better news that we get today might not really be reflected in that ‘dot plot’,” said Angelo Kourkafas, investment strategist…
