Stocks Continue to Rise

Jan 09, 2019 (Baystreet.ca via COMTEX) —

Canada’s main stock index hit nearly four-week highs on Wednesday, driven by optimism that United States and China could be nearing a trade deal, which also boosted oil prices by more than 2.5%

The S&P/TSX Composite Index grew 76.48 points to open at 14,681.63

The Canadian dollar gained 0.3 cents at 75.77 U.S.

The largest percentage gainers on the TSX were New Gold which jumped 5.6% and First Quantum Minerals which rose 4.7%.

Stella-Jones Inc SJ.TO fell 1.1% the most on the TSX. The second biggest decliner was Aphria down 1%

The Bank of Canada kept its benchmark interest rate unchanged at 1.75% on Wednesday.

Elsewhere, on the economic front, Canada Mortgage and Housing Corporation said the seasonally adjusted annualized rate of housing starts fell to 213,419 units from an upwardly revised 224,349 units in November.

ON BAYSTREET

The TSX Venture Exchange regained 3.78 points to 592.04

All but two of the 12 TSX subgroups gained at first, with health-care sprinting 3.4%, materials, up 1.1%, and energy, better by 0.9%

The two laggards were utilities, down 0.7%, and communications, down 0.4%.

ON WALLSTREET

The Dow Jones Industrial Average gained 13.16 points to 23,800.61

The S&P 500 dropped 3.43 points to 2,570.98,

The NASDAQ Composite gained 7.79 points to 6,904.79

Prices for the benchmark for the 10-year U.S. Treasury faded, raising yields to 2.73% from Tuesday’s 2.73%. Treasury prices and yields move in opposite directions.

Oil prices gained 91 cents to $50.69 U.S. a barrel.

Gold prices picked up $6.90 at $1,292.80 U.S. an ounce.

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