By Ketki Saxena
Investing.com – The TSX tracked Wall Street higher in late afternoon trading, with gains led by the rate-sensitive real estate and tech sectors as investors as bank fears appear allayed, and investors continue to hope for a pause or pivot from the US Federal Reserve.
The commodity heavy Canadian index was also supported by gains in crude as US crude inventories remain low and gasoline stocks see high draw downs. Supply concerns also remain at the forefront following a halt in exports from Iraq's Kurdistan region.
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The Canadian Securities Exchange has announced plans to launch a “senior tier” for the largest issuers on its platform, providing these companies with access to a lower cost of capital and a wider investor base. 108 CSE-listed companies will begin transferring to the new tier in May, of which 39 are in the cannabis industry, 29 are mining companies and 15 are tech firms. The move is designed to help position the CSE to compete more directly with the larger Toronto Stock Exchange (TSX).
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Statistics Canada reported that the number of employees receiving pay or benefits from their employer rose by 71,100 (+0.4%) in January, following an increase of 53,700 (+0.3%) in December 2022. Job vacancies increased 3.4% (+29,000) in January 2023. Overall, there were 883,200 job vacancies across all sectors in January.