Canada’s main stock index closed higher on Tuesday thanks to strength in the base metals sector. Finance, tech, and utilities also clocked in some gains, which helped offset declines among the energy, industrial, telecom, and health care sectors.
Markets south of the border were also higher many head to the polls to vote in the U.S. midterm elections under heavy influence by inflation and the threat of a recession. Government could also be split after the last ballot is cast and traders wonder if this could be good news for the market. More bureaucratic gridlock might mean fewer dramatic policy changes.
Today in the Markets
The Canadian dollar traded for 74.49 cents US, compared to 74.13 cents US on Monday.
US crude futures traded $2.53 lower at $89.26 a barrel, while the Brent contract lost $2.25 to $95.67 a barrel.
The price of gold was up US$37.59 to US$1,711.75.
In world markets, the Nikkei was up 344.47 points to 27,872.11, the Hang Seng was down 38.60 points to 16,557.31, the FTSE was up 6.15 points to 7,306.14, and the DAX was up 155.23 points to 13,688.75.
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The post @ the Bell: Stocks rise with U.S. midterms underway appeared first on The Market Herald.
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