TORONTO – Canada’s main stock index moved higher in late-morning trading as the Bank of Canada cut its key lending rate, while U.S. stock markets were mixed ahead of a rate decision by the U.S. Federal Reserve.
The S&P/TSX composite index was up 76.13 points at 25,495.58.
In New York, the Dow Jones industrial average was up 10.10 points at 44,860.45. The S&P 500 index was down 23.90 points at 6,043.80, while the Nasdaq composite was down 140.28 points at 19,593.31.
The Canadian dollar traded for 69.26 cents US compared with 69.47 cents US on Tuesday. The move came as the Bank of Canada lowered its key interest rate by a quarter of a percentage point to three per cent.
The March crude oil contract was down 60 cents at US$73.17 per barrel and the March natural gas contract was up less than a penny at US$3.13 per mmBTU.
The April gold contract was up US$2.80 at US$2,797.40 an ounce and the March copper contract was up five cents at US$4.29 a pound.
This report by The Canadian Press was first published Jan. 29, 2025.
Companies in this story: (TSX:GSPTSE, TSX:CADUSD)
