AUS
NZ
UK
CA
USA
IND
.png)
On Wednesday, October 20, the industrial sector grew over 1.6 per cent carrying the TSX Composite Index to another all-time high of 21,188.19 points. The TSX has posted gains for the last 11 trading days, a streak that has seen it gain 1,135.94 points.
Energy gained 0.42 per cent Wednesday and the financial sector 0.64 per cent while the index gained 101.20 points or 0.48 per cent. However, it’s not all sunshine and roses for the economy because a StatCan report said inflation is rising at its fastest pace since February 2003. September saw a year-over-year rise of 4.4 per cent in the consumer price index (CPI).
One-year price chart (October 20). Analysis by Kalkine Group
Volume active
The most traded stock was the Royal Bank of Canada with about 12.13 million shares exchanging hands. It was followed by Suncor Energy Inc where 8.22 million shares exchanged hands, and Baytex Energy Corp with 6.72 million shares exchanging hands.
Movers and laggards
Wall Street update
While technology stocks could not match its performances of the last two days, still, things on Wall Street seemed optimistic about the coming quarter despite supply chain woes.
Nasdaq was the only of the three main indices that lost Wednesday as they began to rise on market open before falling a little by close. It seemed like it was on the customers to bear the brunt of the supply chain issues and not the investors, analysts believe.
The Dow rose 152.03 points or 0.43 per cent to 35,609.34 points, the S&P 500 gained 16.56 points or 0.37 per cent up to 4,536.19 points, and the Nasdaq was down 7.41 points or 0.05 per cent to 15,121.68 points.
Commodity update
Gold gained 0.81 per cent and traded at US$ 1,784.90. Brent oil rose 0.87 per cent to US$ 85.82/bbl, while crude oil gained 1.1 per cent to US$ 83.87/bbl.
Currency news
The loonie gained against the US dollar on October 20, while USD/CAD ended in the red at 1.2319, down 0.35 per cent.
The US Dollar Index was worse off against the basket of major currencies Wednesday and ended at 93.61, down 0.13 per cent.
Money market
Wednesday’s trade saw the US 10-year bond yield grow 1.19 per cent and end at 1.660.
The Canada 10-year bond yield grew 1.1 per cent on October 20 and ended at 1.648.
