Markets

TSX Pushes Higher As Industrials, Utilities Continue Rally; Up 113 Points Mid-Afternoon

The TSX was ahead 113 points in the mid-afternoon session, slightly adding to its midday gains, as investors continued to take courage from Fed Chair Janet Yellen's statement and from strong data out of the U.S.

U.S. Fed Chair Janet Yellen reportedly said in her speech late Thursday that the bank is still open to the possibility of increasing key rates this year even after disappointing the markets when it decided to keep rates near zero in the much-awaited September meeting. Yellen, however, stated two conditions: that inflation remains stable and the economy, strong. Supportive of her statement, however, reports said the U.S. GDP for Q2 has been revised upward on the back of increased consumer spending and construction.

Health care remained the weakest group, shedding 3.32%. Miners fell 1.52%, with gold and copper prices still under pressure from a strong dollar. On the positive side, industrials and utilities led with gains of 2.29% and 1.95%, respectively. The heavyweight financials advanced 1.54%.

Total volume traded so far exceeded 189.7 million shares. Bombardier (BBD-B.TO) was the most actively moving stock.

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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