Tuesday, November 20, 2007
Canadian stock prices jumped at the opening Tuesday after a tamer-than-expected inflation reading fuelled speculation that the Bank of Canada would cut interest rates next month.
The TSX composite index was 97 points in the first few minutes of trading, outpacing gains on Wall Street, where pressure came from renewed worries about the mortgage and housing sectors, and retailer Target’s quarterly profit drop.
Firming commodity prices also buoyed the TSX.
On Wall Street, the Dow industrials rose 86 points, with the Nasdaq ahead 0.6 per cent on Hewlett-Packard’s quarterly results, outlook and stock buyback.