North American stock markets pulled back from their recent significant losses Wednesday, as oil prices gained ground and the U.S. Federal Reserve said it was leaving its key interest rate unchanged. The S&P 500 index added 1.38 points to 2,823.81 and the Nasdaq composite index advanced 9.00 points to 7,411.48. Investors were little surprised that the Fed left its benchmark interest rate unchanged Wednesday in a still-low range of 1.25 per cent to 1.5 per cent. "The odds now of the next Fed rate hike in March is almost 100 per cent based on Fed funds futures," Mattina noted. On the energy front, oil prices reversed an early slide Wednesday, as the March crude contract rose 23 cents to US$64.73 per barrel.

Source: CBC News January 31, 2018 12:51 UTC