TSX climbs 3.53% as inflation slowed down in July, loonie up

Image Source: © Ekmeijer | Megapixl.com

Canada’s main equity index climbed 3.53 per cent higher to 20,269.97 points at the end of the trading session on Tuesday, August 16.

The market jumped after Statistics Canada reported slowed Consumer Price Index (CPI) growth of 7.6 per cent in July compared to the 8.1 per cent surge in the previous month.

The healthcare sector grew by 10.27 per cent. The base metals and information technology (IT) sector increased by 5.3 per cent and 5.27 per cent, respectively. The financial sector surged by 4.96 per cent, and telecommunication, energy, industrial and utility sectors were also in the green territory at market close.


One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (August 16). Analysis by © 2022 Kalkine Media®).

Volume Active

Enbridge (TSX: ENB) was the top active stock on Tuesday, with 17.5 million shares switching hands on the Toronto Stock Exchange (TSX). With a trading volume of 12.8 million shares, Manulife Financial Corporation (TSX: MFC) was the second most active stock, followed by Suncor Energy Inc (TSX: SU), with 11.89 million shares exchanging hands.

Wall Street update

The NASDAQ Composite Index slumped by 25.5 points (down by 0.19 per cent) to close at 13,102.55 on Tuesday, August 16. On the contrary, the NYSE Composite Index grew by 52.45 points (up by 0.33 per cent) to end the session at 15,846.79. The Dow Industrials index spiked by 0.71 per cent. Also, the S&P 500 was up by 0.19 per cent.

Commodities

Gold prices fell to US$ 1,789.7 per troy ounce, down by 0.47 per cent at the end of the Tuesday session. Crude Oil prices continued to slip further to US$ 86.53 per barrel, down by 3.22 per cent. Brent Oil prices were down by 2.9 per cent to close at US$ 92.34 a barrel.

Currency news

The CAD/USD jumped by 0.47 per cent to 0.77. The CAD/EUR also spiked by 0.41 per cent to 0.76. On the other hand, the US Dollar Index Futures dipped by 0.04 per cent to 106.38.

Bond Market

Canada's 10-Year Bond Yield grew by 2.15 per cent and reached 2.75. Meanwhile, the US 10-Year Bond Yield also climbed 0.91 per cent to 2.81 on August 16.



 


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