© Reuters.
By Ketki Saxena
Investing.com – Canada’s main stock index, the S&P/TSX Composite index opened on a negative note, but traded in the green by midday, and rallied along with Wall Street following the US Federal Reserve’s interest rate decision.
The kept rates steady in a range of 5.25% to 5.5%, as had been widely anticipated. Fed Chair Jerome Powell also signalled that “it’s not likely” the central bank would hike rates again.
Markets also cheered estimates that the benchmark rate will fall to 4.6% next year, suggesting three rate cuts in 2024.
The Canadian index closed at 20,629.45 points, up 1.96% in the day’s trading.
Toronto Stocks Moving Markets Today
Dollarama (TSX:) reported diluted earnings per share that rose to $0.92 from $0.70 this quarter a year ago. Sales rose 14.6% to $1.48 billion from $1.29 billion in the year-ago quarter. Dollarama also raised its fourth-quarter guidance for comparable…
