By Ketki Saxena
Investing.com -- The TSX rallied to its higher point in over two months today, tracking Wall Street higher as investors bet that an expected 25 bps rate hike from the US Federal Reserve next week may be its last.
The commodity-heavy Canadian index was also supported by crude prices, which rose in response to potential economic stimulus from China and tightening crude supplies.
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Logistics provider Mullen Group (TSX:MTL) saw its share price rise after several brokerages raised their target price on the company's stock.
Trulieve Cannabis shares faced a downturn following an announcement about CFO Tim Mullany stepping down just ten days into his role due to personal circumstances.
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In Canadian Economics
According to Statistics Canada, retail sales witnessed a modest growth of 0.2%, amounting up to $66 billion in May - thanks largely due to motor vehicle and parts dealers along with food and beverage retailers.
In June, Canadian house prices recorded a slight month-over-month rise of 0.1%. The key contributors were Vancouver and Calgary – two of Canada’s largest housing markets.