Aug 13, 2025 (Baystreet.ca via COMTEX) --
Canada's main stock index opened at a record high on Wednesday, lifted by growing expectations for a September U.S. Federal Reserve interest rate cut.
The TSX Composite Index climbed 114.92 points to begin Wednesday at 28,036.18
The Canadian dollar nicked up 0.04 cents to 72.65 cents U.S.
ON BAYSTREET
The TSX Venture Exchange recovered 7.31 points to kick off Wednesday at 795.91
All but three of the 12 TSX subgroups were higher in Wednesday's first hour of trade, on the shoulders of consumer discretionary stocks, up 1.7%, while telecoms and materials each sprinted 0.7%.
The three laggards were consumer staples, dipping 1.2%, while health-care lost 1%, industrials tailed off 0.2%.
ON WALLSTREET
Stocks rose Wednesday, adding to their recent momentum as expectations for lower U.S. Federal Reserve rates continue driving the major indexes to all-time highs.
The Dow Jones Industrial Average popped 404.48 points to 44,863.09.
The S&P 500 index climbed 22.85 points to 6,468.61.
The NASDAQ added 52.47 points to 21,734.38. Both the broader market and the tech-heavy NASDAQ achieved record highs in Wednesday's first hour.
AMD popped more than 5% to lead gains in tech. Apple also advanced about 1%, along with Oracle.
Those moves followed a record-setting session Tuesday sparked by a tamer-than-expected inflation report that gave investors hope of a Fed rate cut in September.
Traders are pricing in a 99% chance of a rate cut at the Federal Reserve's September meeting.
Thursday's producer price index report on wholesale inflation will add another piece of the economic picture. The report comes ahead of the Fed's Jackson Hole meeting on Aug. 21-23, which could also help shape expectations for the central bank's next policy move.
Prices for 10-year Treasury moved upward Wednesday, lowering yields to 4.24% from Tuesday's 4.29%. Treasury prices and yields move in opposite directions.
Oil prices slid 27 cents to $62.90 U.S. a barrel.
Gold prices regained $18.40 to $3,417.40 U.S. an ounce.
COMTEX_468014047/2559/2025-08-13T10:27:45
