The Toronto Stock Exchange advanced on Tuesday morning as the Fed’s Janet Yellen spoke at Congress and said that when the bank stops using the word “patient” then rate rises will be more likely, but for now the US labour market is still a concern and therefore it is unlikely that any move in monetary policy will happen for at least two Fed meetings. This afternoon though it was domestic issues dominating the market with a speech by BoC governor Stephen Poloz and weaker BMO earnings and oil prices.
The S&P/TSX Composite Index closed down 35.29 (0.23 per cent)
The NYSE closed higher.
Oil is trending slightly lower (Brent $58.56, WTI $49.01 at 4.15pm)
Gold is trending higher.
The loonie is valued at U$0.80063 (4.15pm)