Investing.com — Canada's main stock index, theS&P/TSX Composite tracked Wall Street higher today, after stronger-than-expected US GDP figures boosted risk-on sentiment by defying predictions of a recession, and indicated the prospect of a soft landing.
Canada’s commodity heavy index was also supported by gains in crude U.S. crude stockpiles fell more than expected last week, rising geopolitical tensions in the Red Sea (NYSE:SE), and the impetus of China’s economic support measures.
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Toronto Stock Market News
Parkland Corp (TSX:PKI). announced it has temporarily shut down fuel processing at its Burnaby, B.C. refinery after encountering an issue on Jan. 21. The refinery is expected to remain shut for four weeks.
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In Canadian Economics
Data from Statistics Canada shows that domestic factory sales most likely fell 0.6% in December from November, on a flash estimate basis.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.