TSX Trades Flat; Bank of Canada in "Hawkish Hold"
Investing.com | Author Ketki Saxena
Published Oct 25, 2023 14:51
By Ketki Saxena
Investing.com -- The TSX traded flat by midday, after the Bank of Canada held interest rates at 5% earlier today. The commodity heavy Canadian index was also supported by crude prices, as worries about the conflict in the Middle East remained at the forefront.
Meanwhile, Wall Street indices fell after Alphabet (NASDAQ:GOOGL) slumped after earnings, weighing on the larger tech sector. Wall Street was also pressured by US Treasury yields, which continued to march ahead.
Toronto Stock Market News/h2
CN rail reported earnings a Q3 profit of $1.11 billion , down from $1.46 billion in the same period a year earlier. On an adjusted basis, diluted earnings were down 21% at $1.69 per share from $2.13 per share last year. Revenue slid 12% to $3.99 billion from $4.51 billion the year before.
For all earnings, view our earnings calendar.
Toronto Stocks Moving Markets Today/h2
Top Gainers on the TSX Today:/h3
- Secure Energy (TSX:SES)
- Sprott Inc (TSX:SII)
- Fairfax Financial (TSX:FFH)
Top Losers on the TSX Today:/h3
- Dye & Durham Ltd (TSX:DND)
- Nuvei (TSX:NVEI)
- Shopify (TSX:SHOP)
- Secure Energy (TSX:SES)
- Sprott Inc (TSX:SII)
- Fairfax Financial (TSX:FFH)
Top Losers on the TSX Today:/h3
- Dye & Durham Ltd (TSX:DND)
- Nuvei (TSX:NVEI)
- Shopify (TSX:SHOP)
For all Canadian Stocks Moving Markets today, view our Canada Markets Page.
In Canadian Economics/h2
The Bank of Canada announced a “hawkish hold” at 5% today as expected, but said more rate hikes could be on the way. The bank also cut its growth 2023 to 1.2% from 1.8% expected as recently as July.
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.
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