By Ketki Saxena
Investing.com -- At 10:05 a.m in Toronto, the S&P/TSX Composite Index was at 19,709.27 points, up 0.82% in the day’s trading, tracking U.S. stocks higher as equities rebounded from yesterday’s bruising sell-off.
The TSX closed yesterday at 19,548.51 points, down 0.98% in the day’s trading, and further into correction territory, driven by profit-taking ahead of an aggressive rate hike expected by the Federal Reserve. The central bank will release its statement at 2 p.m. ET, with a press briefing by Fed Chair Jerome Powell expected at 2:30 p.m. ET.
A 75 basis point hike is now nearly unanimously expected and fully priced into the market, helping equities stabilize so far today. Meanwhile, bond yields retreated, and the dollar weakened, also helping buoy riskier equities, although the meltdown in crypto continued.
Gold also bounced from near one-month lows, lifted by weaker Treasury yields.
Here’s a snapshot of markets at the open:
Indices:
- S&P/TSX 60: +0.72%
- S&P/TSX Venture Composite: +1.03%
- S&P500: +1.79%
- Dow Jones: +1.18%
- Nasdaq: +1.79%
- VIX: -7.34%
Commodity Futures:
- Crude: -0.48% at $118.36
- Brent: -0.32% at $120.78
- Natural Gas: +5.61% at $7.592
- {{8830|Gold}: +0.70% at $1826.20
- Silver: +2.81% at $21.543
- Copper: +0.18% at $4.1640
Bonds and Currencies:
- Canada 5 year: -00.79 points at 3.510%
- Canada 10 year: -0.076 points at 3.550%
- United States 10-Year -0.096% at 3.387%
- USD/CAD: -0.16% at 1.2933
- USD Index: -0.22% at 105.28
Cryptocurrency: