Canadian Stocks Show Moderate Move To The Upside

(RTTNews) - After ending the previous session roughly flat, Canadian stocks moved moderately higher during the trading day on Wednesday.

The S&P/TSX Composite Index fluctuated over the course of the session but maintained a positive bias before closing up 79.43 points or 0.4 percent at 20,166.20.

Financial stocks led the upward move on the day, with the S&P/TSX Capped Financial Index climbing by 1.2 percent.

The strength in the sector came amid continued optimism about the outlook for U.S. interest rates following yesterday's dovish comments from Federal Reserve Governor Christopher Waller.

Healthcare and energy stocks also saw some strength during the session, while utilities and consumer staple stocks moved to the downside.

Overall trading activity remained relatively subdued, however, as traders looked ahead to key U.S. inflation readings on Thursday.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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