A rebound in commodity prices and easing Treasury yields pushed Canadian equities to a new record high on Thursday, even though slightly hotter-than-expected U.S. consumer inflation data kept some caution in the air. The S&P/TSX Composite Index inched up by 77 points, or 0.3%, to settle at 24,302 — extending its year-to-date gains to 16%.
An intraday weakness in many sectors, including real estate and technology, weighed on the TSX benchmark. However, renewed buying in healthcare, mining, and energy stocks drove the stock market back into positive territory.
According to the U.S. Bureau of Labor Statistics, the Consumer Price Index (CPI) climbed by 0.2% in September. While it was consistent with the rises in July and August, the latest CPI figure exceeded Wall Street’s expectations of a 0.1% increase. Despite a notable decline in the energy index, higher shelter and food costs acted as the key drivers of the monthly rise in…
