By Ketki Saxena
Investing.com -- Toronto's main stock index, the S&P/TSX Composite index recovered after registering its greatest decline in 10 months yesterday after hotter-than-expected domestic CPI data that raised the case for further rate hikes from the Bank of Canada.
The commodity heavy index however continued to be pressured by a decline in crude prices, which are dealing with the prospect of three year high US production in addition to a deteriorating demand prospect as China's economy weakens.
South of the border however Wall Street indices extended their declines falling hawkish meeting minutes from the US Federal Reserve, which expressed that inflation risks remain tilted to the upside, and that further rate hikes could be necessary.
Toronto Stock Market News
NFI Group Inc (TSX:NFI) reported a loss of US$48.1 million, compared with a loss of US$56.0 million this time last year. The loss amounted to 62 cents per share for the quarter ended July 2 compared with a loss of 73 cents per share a year earlier. Revenue for the quarter totalled US$659.6 million, up from US$398.0 million in the same quarter last year.
For all earnings, view our earnings calendar.
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In Canadian Economics
Canadian housing starts slipped by 10% in July compared with June.
Canadian wholesale trade fell by 2.8% in June from May.
For all Canadian economic releases, view our economic calendar.
All currencies CAD unless noted otherwise.