By Ketki Saxena
Investing.com -- The TSX tracked Wall Street higher today, tracking Wall Street higher as investor confidence was boosted by congressional approval of the US debt ceiling. The commodity heavy Canadian index was also supported by gains in crude, as the passage of the US debt ceiling deal helped risk aversion abate, and as higher than expected jUS ob growth raised the outlook for the commodity.
The Biggest Stories on Bay Street
Suncor Energy (TSX:SU) announced plans to eliminate approximately 1,500 positions by year-end with the goal of streamlining expenses and enhancing financial performance.
BRP (TSX:DOO) shares fell after TD (TSX:TD) Securities turned bearish on the towards power sport vehicle produce
Lundin Mining (TSX:LUN) Corp shares meanwhile rose after TD raised their outlook from "hold" to "buy"
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In Canadian Economics
Home prices in the Greater Toronto Area (GTA) continue to rise, with May marking the fourth consecutive month of gains, according to data released by the Toronto Regional Real Estate Board.
The average price of a GTA home reached nearly CAD1.2m ($892,193), a 3.7% increase from April, while sales rose 24.7% on an annual basis and were up 20% from April. Mew listings meanwhile rose 10.1% in May compared to April.