The mar­kets today

The Prince George Citizen - - SPORTS -

TORONTO (CP) — North Amer­i­can mar­kets nudged higher Wed­nes­day as the U.S. Fed­eral Re­serve’s lat­est meet­ing min­utes sig­nalled a De­cem­ber rate hike is still on track. The Toronto Stock Ex­change’s S&P/TSX com­pos­ite in­dex was up 30.04 points to 15,800.40. In New York, it was another record-set­ting day on Wall Street, de­spite mea­gre mar­ket move­ments. The Dow Jones in­dus­trial av­er­age added 42.21 points at 22,872.89, the S&P 500 in­dex inched up 4.60 points at 2,555.24 and the Nas­daq com­pos­ite in­dex gained 16.30 points to 6,603.55. Wed­nes­day’s re­lease of the Fed’s Septem­ber meet­ing min­utes showed that al­though of­fi­cials strug­gled to come to term with per­sis­tently low in­fla­tion, some were wor­ried that low un­em­ploy­ment could re­sult in a quick re­bound in in­fla­tion, and a third rate hike was needed. The cen­tral bank­ing sys­tem pre­vi­ously raised rates in June and March. Still, this re­lease sig­nalled noth­ing new in terms of mar­ket ex­pec­ta­tions, said Ma­can Nia, a se­nior in­vest­ment strate­gist at Man­ulife In­vest­ments. Nia added mar­ket par­tic­i­pants were also watch­ing Prime Min­is­ter Justin Trudeau’s meet­ing with U.S. Pres­i­dent Don­ald Trump closely, but there were lit­tle sig­nals from their press con­fer­ence on Wed­nes­day. “We’re all very in­ter­ested to see the out­come in terms of the NAFTA ne­go­ti­a­tion,” he said. “We’re all sit­ting back and wait­ing to see more con­crete de­tails in terms of pro­pos­als.”

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