TSX declines, Wall Street mixed as Fed signals no rush to cut rates

  • Investing.com
  • Stock Market News
TSX declines, Wall Street mixed as Fed signals no rush to cut rates
Credit: © Reuters.

Investing.com — Canada’s main stock index, the S&P/TSX slid by late afternoon trading, while Wall Street’s main indices remained mixed following a decision from the US Federal Reserve.

The Federal Reserve left rates on hold , as had been widely expected, but in its monetary policy statement signalled it would not cut rates “until it has gained greater confidence that inflation is moving sustainably toward 2%”.

Risk sentiment also remained uncertain following a disappointing start to big Tech earnings, with missed expectations from Microsoft (NASDAQ: MSFT ) and Alphabet (NASDAQ: GOOGL ) around AI progress.

The commodity heavy Canadian index was further pressured by sliding crude prices, following a surprise US crude inventories build, and slowing economic activity in China.

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Toronto Stock Market News

No major TSX news today.

For earnings, view our earnings calendar.

Toronto Stocks Moving Markets Today

Top Gainers on the TSX Today:

Top Losers on the TSX Today:

  • Finning International (TSX: FTT )
  • Parex Resources (TSX: PXT )
  • Lithium Americas (TSX: LAAC )

For all Canadian Stocks Moving Markets today, view our Canada Markets Page.

In Canadian Economics

Data from Statistics Canada showed that domestic GDP expanded 0.2% in November month over month, above expectations for a 0.1% forecast, and indicating a rebound after three consecutive months of stagnation. The data helps bolster the case that the Canadian economy likely avoided a technical recession in the second half of 2023.

For all Canadian economic releases, view our economic calendar.

All currencies Canadian Dollar unless noted otherwise.

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