TSX index surges by 0.18% as oil prices rally, loonie falls by 0.09%

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 TSX index surges by 0.18% as oil prices rally, loonie falls by 0.09%
Image source: © Sbotas | Megapixl.com

The S&P/TSX Composite Index jumped higher, up by 0.18 per cent, to 20,021.38 at the end of the trading session on Wednesday, August 24.

The healthcare sector rose by 3.91 per cent as prices of some cannabis stocks increased, with Canopy Growth (TSX: WEED) and Aurora Cannabis (TSX: ACB) leading the gains. The energy sector soared by 1.06 per cent, with the base metals sector climbing 0.85 per cent. The information technology (IT), industrials and utility sector also increased slightly.

Meanwhile, the financial sector fell by 1.08 per cent, and the telecom sector was also down by 0.44 per cent.


TSX index lifts higher as oil prices rally, loonie falls by 0.09%
One-year price chart of TSX Composite Index along with SMA 20-day, SMA 30-day, SMA-50-day (August 24). Analysis by © 2022 Kalkine Media®).

Volume Active

Suncor (TSX: SU), which noted 13.44 million SU shares switching hands on August 24, topped the volume active list, as per the TMX site. Uranium explorer and producer UEX Corporation (TSX: UEX) was the second, with a trading volume of 9.41 million UEX shares. Great-West Lifeco (TSX: GWO) was the third most actively traded stock, with about 7.11 million GWO shares exchanging hands.

TSX index lifts higher as oil prices rally, loonie falls by 0.09%

Wall Street update

The US stock markets ended the Wednesday session in the green zone. The NASDAQ Composite Index jumped by 0.4 per cent to reach 12,431.53 this day. Meanwhile, the NYSE Composite Index grew by 0.35 per cent to 15,392.06 at market close. The Dow Industrials index soared by 0.18 per cent, while the S&P 500 shot up by 0.29 per cent.

Commodities

Gold prices closed at US$ 1,761.5 per troy ounce, slightly up by 0.02 per cent. Oil prices moved higher, with Brent prices surpassing US$ 100 per barrel. The Brent Oil Futures closed at US$ 101.22 a barrel, up by one per cent. The Crude WTI Futures also zoomed by 1.23 per cent to US$ 94.89 per barrel on August 24.

Currency news

The CAD/USD dipped by 0.09 per cent in the foreign exchange rate market to stand at 0.77 at the end of the Wednesday session. The CAD/EUR also slipped by 0.08 per cent to close at 0.77. On the other side, the US Dollar Index Futures was up by 0.06 per cent to reach 108.61.

Bond Market

The 10-Year Bond Yield in Canada was 3.11 on August 24, a spike of 1.83 per cent. In the US, the 10-Year Bond Yield reached 3.1, an increase of 1.71 per cent.

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