Canada stocks-Canada's TSX rises, markets assess rate-hike bets
SPY•Rate-hike bets ease after Waller comments
- Federal Reserve Governor Christopher Waller said on Thursday he's inclined to be patient on rate policy while watching to see if price pressures ease.
- Following Waller's comments, traders trimmed bets on a Federal Reserve interest rate hike, lowering the likelihood to 50.4% from 63.2% on Wednesday, according to CME's FedWatch tool.
- Meanwhile, growth-oriented technology stocks .SPTTTK gained 3.7% and financials .SPTTFS rose 1.4%.
- Employment reports in Canada and the U.S. on Friday could further influence expectations of how central banks will approach monetary policy going ahead.
Mining stocks lead materials sector higher
- The materials sector .GSPTTMT that includes Canadian miners rose 3.1% as gold, silver and copper rose.
- Discovery Mining DSV.TO gained 6.5%, Lundin Gold LUG.TO added 4.2% while Barrick Mining ABX.TO was up 3.1%.
TSX posts biggest one-day jump in about a month
Sept. 3 (Reuters) - Canada's main stock index rose on Thursday, strengthened by mining, technology and financial stocks, recording its biggest one-day jump in about a month.
The S&P/TSX Composite Index .GSPTSE rose 1.5% to 36,633.12.
Thomson Reuters and trade data add to the backdrop
- "There are signs of stabilisation in the bond market and in stocks... This does not mean that inflation concerns have gone away or that bonds won't sell off again. After a rough start to September, it could be time to take a breather," said Kathleen Brooks, research director at XTB.
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