TSX gains on Fed comments; loonie falls on oil - News Summed Up

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TSX gains on Fed comments; loonie falls on oil


North American stock markets are heading higher as investors continue to grow comfortable with signs that the U.S. Federal Reserve is getting ready to hike interest rates. In Toronto, the S&P/TSX composite index gained 42.13 points to 14,682.01, supported by gold and materials stocks. The Dow Jones industrial average added 107.59 points at 18,502.99, the broader S&P 500 composite index rose 11.34 points to 2,180.38, and the Nasdaq composite gained 13.41 points to 5,232.33. On Friday, Fed chairwoman Janet Yellen hinted in a conference speech that the case for raising rates is growing due to an improved economic outlook. The Canadian dollar was at 76.79 cents US, down 0.13 of a cent, as the October crude contract fell 66 cents at US$46.98 per barrel.


Source: thestar August 29, 2016 20:26 UTC



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