North America’s stock markets saw a strong rebound Wednesday as a cocktail of conditions brought investors back to equities. Comments by the Fed’s William Dudley which suggest a September interest rate rise is less likely was coupled with strong US data on durable goods sales. Meanwhile bargain hunters continued to pick up stocks in Canada and the US.
Asian markets had closed higher due to the Chinese interest rate cut but Shanghai was still in the red although less so than in the last few sessions.
European indexes closed lower though as fears about China’s economy continued to knock sentiment.
The S&P/TSX Composite Index closed up 230.7 (1.75 per cent)
The Dow Jones closed up 619.1 (3.95 per cent)
Oil is trending mixed (Brent up at $43.62, WTI down at $38.89 at 4.40pm)
Gold is trending lower (1122.80 at 4.40pm)
The loonie is valued at U$0.7501