Baystreet.ca - Canada's main stock index was little changed on Wednesday, after U.S. inflation data was in line with expectations and did little to change bets on a September interest-rate cut by the Federal Reserve.
The TSX Composite Index edged forward 19.23 points, to begin mid-week Wednesday at 22,637.41.
The Canadian dollar eked ahead 0.05 cents to 72.99 cents U.S.
In corporate news, bitcoin miner Riot Platforms (NASDAQ:RIOT) said it had increased its stake in Canadian rival Bitfarms to 18.9%.
Riot shares faded 13 cents in New York, or 1.7%, to $7.71, while Bitfarms faded five cents, or 1.6%, in Toronto to $3.11.
Energy and healthcare were the biggest sectoral gainers among Canadian stocks. The healthcare sector rose led by a rise of seven cents, or 2.8%, in Tilray (TSX:TLRY) Brand shares, to $2.61.
CAE (TSX:CAE) Inc was the biggest gainer on the index, up 87 cents, or 3.8%, to $23.85, after the company's first-quarter revenue beat estimates. Franco-Nevada Corp (TSX:FNV) lost $13.40, or 7.8%, to $157.91, after the company reported quarterly adjusted earnings of 75 cents per share for the second quarter, below expectations of 82 cents.
ON BAYSTREET
The TSX Venture Exchange eased off 0.23 points to 545.43.
The 12 TSX subgroups were evenly split between gainers and losers, energy leading the former group with a gain of 0.8%, while information technology and financials each garnered 0.4%.
The half-dozen laggards were weighed most by materials, sliding 1.4%, while gold stumbled 1.3%, and real-estate, off 0.6%.
ON WALLSTREET
U.S. stocks were flat Wednesday as the annual inflation rate cracked 3%, encouraging investors who have been buying up shares following a pullback to start August.
The Dow Jones Industrial index gained 38.85 points to begin Wednesday at 39,804.49.
The S&P 500 index inched ahead 0.22 points to 5,434.65.
The NASDAQ retreated 50.76 points to 17,163.84.
Consumer prices increased 2.9% year over year, down from 3% in June and the lowest reading since 2021, the Bureau of Labor Statistics said on Wednesday. Month over month, prices ticked up 0.2%. Economists polled by Dow Jones expected a 0.2% increase from the prior month and a 3% gain year over year.
Prices for the 10-year Treasury stood still Wednesday, keeping yields at Tuesday’s 3.82%.
Oil prices dipped 45 cents at $77.90 U.S. a barrel.
Gold prices doffed $20.00 to $2,505.90.