Markets

TSX May Start Higher As Commodities Rise

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Canada's benchmark index looked set for another day of gains, helped by rising precious metal and oil prices .

The rise in oil prices came following the United States sanctioned Venezuela's state oil company and the Federal Reserve turned dovish, saying it would take a patient attitude towards future rate hikes. As well, sanctions on Venezuela's Petroleos De Venezuela SA cut exports form the oil exporter.

Meanwhile, gold rose to the highest in nine months after the Federal Reserve backed off its hawkish interest-rate policy and the US dollar fell.

In stocks, investors will keep an eye on Resolute Forest Products (RFP.TO), which reported preliminary Q4 results, and Endeavour Silver (EDR.TO), which said it will concentrate its 2019 exploration budget on three properties in Chile.

The TSX gained 21 points on Wednesday, with energy stocks leading the advance.

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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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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