By Ketki Saxena
Investing.com -- The TSX tracked Wall Street higher this afternoon, reversing a weak start to the session and tracking Wall Street higher on positive investor sentiment surrounding potential US rate hike pauses and debt ceiling agreements.
The commodity-heavy Canadian index was also supported by crude prices, boosted by hopes of a Fed pause following commentary from policymakers yesterday, and an uptick in the price of bullion.
The TSX appears to be off to a positive start for June, after May marked the TSX's poorest monthly performance so far this year driven by weak commodity forecasts, underwhelming earnings reports from the country's biggest banks, and the protracted uncertainty surrounding US debt negotiations.
The Biggest Stories on Bay Street
- Laurentian Bank (TSX:LB) Of Canada shares rose following better-than-expected quarterly adjusted earnings results and an increased dividend
- Centerra Gold (TSX:CG) Inc shares rose after brokerage firm Raymond James expressed optimism about their prospects in gold mining
- Boralex Inc (TSX:BLX) shares rose as Credit Suisse (SIX:CSGN) turned bullish on the company
- Coveo Solutions Inc's stock rose after Eight Capital initiated coverage of the company's AI services platform with a "buy" rating
Canadian Stocks Moving Markets Today
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In Canadian Economics
In May, the S&P Global (NYSE:SPGI) Canada Manufacturing Purchasing Managers' Index (PMI) experienced a drop from 50.2 to 49.0 as increased inflation pressured demand.