With the Federal Reserve starting its two-day meeting Wednesday the markets gained some optimism in Tuesday’s trading session.
Toronto and New York both saw strong gains along with Europe, which improved sentiment following a weak start.
Asian markets had closed generally lower with China’s stumbling economy and a change of leader in Australia weighing on investors. Tokyo did better with the Bank of Japan reaffirming its monetary policy.
It’s the Fed that is the real focus this week though with interest rates the big news potentially. If the committee vote for an increase it may signal economic disaster for some emerging economies according to experts.
The S&P/TSX Composite Index closed up 109.4 (0.82 per cent)
The Dow Jones closed up 228.9 (1.40 per cent)
Oil is trending higher (Brent $46.60, WTI $44.70 at 4.35pm)
Gold is trending higher (1103.90 at 4.35pm)
The loonie is valued at U$0.7544