Canada's main stock index rose on Wednesday as oil prices and ?bond yields ?paused after a recent surge, while ?investors braced ?for a widely anticipated ?interest-rate ?hike from the ?U.S. ?Federal ?Reserve.
The TSX gained 105.35 points to open Wednesday at 35,687.42.
The Canadian dollar fell 0.08 cents to 71.74 cents.
European Commission President Ursula von der Leyen said the ?European Union is opening the door for Canada to become its first "associate member," a status that is not set out in the bloc's treaties.
The EU and Canada will work together across sectors including manufacturing, AI, critical minerals and energy, ?she said.
Prime Minister Mark Carney's trip follows a historic breakdown in Canada-U.S. relations after trade talks collapsed last month, sparking a series of tit-for-tat tariff measures.
On the economic lineup, total monthly housing starts decreased 5% in August to 229,000 from July's 229,400.
In July, building permits decreased by 17.3%.
ON BAYSTREET
The TSX Venture Exchange regained 2.75 points to 903.73.
All but three of the 12 subgroups were making upward progress in Wednesday’s first trading hour.
Utilities and consumer discretionary stocks each gained 0.9%, while information technology gained 0.7%.
The three gainers were energy, slipping 1.5%, while telecoms ditched 0.4%, and industrials lost 0.3%.
ON WALLSTREET
The S&P 500 moved higher on Wednesday ahead of a pivotal interest rate decision from the Federal Reserve that could mark the beginning of a new hiking cycle over the next few months.
The Dow Jones Industrials skidded 175.43 points to 51,917.68
The much-broader index regained 16.2 points to 7,601.93
The NASDAQ Composite recovered 161.88 points to 26,143.45.
Futures markets were pricing in a quarter-point hike for Wednesday with 92.9% odds. Odds of an additional quarter-point hike were 39.1% for the Fed’s October meeting and 26.4% for the Fed’s December meeting.
Costco Wholesale is likely to bounce back, even as consumers continue to show sensitivity to rising prices, according to Bank of America.
SK Hynix is in talks with Intel to manufacture its memory chips in the U.S. for the first time, Reuters reported Wednesday, sending shares of both companies higher in premarket trading.
Prices for the 10-year Treasury gained, lowering yields to 4.97% from Wednesday’s 5%. Treasury prices and yields move in opposite directions.
Oil prices sank $1.97 to $103.86 U.S. a barrel.
Gold prices gained $45.60 to $4,378.70 U.S. an ounce.
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