TSX Modestly Higher; Dollarama Rises On Earnings, Outlook

RTTNews | 1h 24min ago

(RTTNews) - The Canadian market remains firmly placed in positive territory around mid-afternoon on Wednesday. Easing oil prices and lower bond yields contribute to the positive mood in the market.

Consumer discretionary, consumer staples, utilities and financials stocks are among the notable gainers. Energy stocks are under pressure as oil prices are down sharply.

The benchmark S&P/TSX Composite Index, which rose to 35,781.75 earlier in the session, was up 119.11 points or 0.33% at 35,701.18 a little while ago.

Consumer discretionary stock Dollarama is up 5.5% after reporting second-quarter sales of C$2,026.6 million compared to C$1,723.8 million in the prior year. Net earnings stood at C$349.3 million, or C$1.29 per share, compared to C$321.5 million, or C$1.16 per share, in the previous year.

The company now expects comparable store sales of 4% to 4.5% for the Canadian segment in the fiscal, instead of previously announced 3% to 4%.

Gildan Activewear, Canadian Tire Corporation, Brp Inc. Linama Corp. and Magna International are up 1.5%-3%.

Consumer staples stocks Empire Company, Loblaw, Metro, The NorthWest Company and Weston George are gaining 1%-2.3%.

Among the stocks in the financials index, Fairfax Financial Holdings, Intact Financial Corporation, EQB, Brookfield Corporation, Onex Corporation and National Bank of Canada are up 1%-2.5%.

In economic news, data from Canada Mortgage and Housing Corporation showed housing starts in Canada were largely flat month-over-month at a seasonally adjusted annual rate of 229,000 units in August 2026, the lowest since March 2025 and below market forecasts of 240,000 units.

Building permits in Canada decreased to -17.3% in July from 18.3% in June, data from Statistics Canada showed.

Fed Raises Interest Rates For First Time Since July 2023

For the first time since July of 2023, the Federal Reserve announced on Wednesday that it has decided to raise interest rates. The Fed said it decided to raise the target range for the federal funds rate by 25 basis points to 3.75 to 4 percent in support of its dual mandate.

RTTNews | 1h 15min ago

Swiss Market Ends On Firm Note

After a flat start, Swiss stocks edged higher and stayed positive right through the trading session to settle on a firm note on Wednesday. A sharp drop in oil prices and lower bond yields helped lift sentiment. Investors awaited the Federal Reserve's monetary policy announcement.

RTTNews | 1h 37min ago

European Stocks Close Broadly Higher As Oil Prices Drop

European stocks closed broadly higher on Wednesday as weak oil prices and lower bond yields helped lift sentiment. Investors digested the latest batch of regional economic data and looked ahead to the Federal Reserve's monetary policy announcement, due later in the day.

RTTNews | 1h 53min ago

U.S. Business Inventories Climb Much More Than Expected In July

A report released by the Commerce Department on Wednesday showed business inventories in the U.S. increased by much more than expected in the month of July. The Commerce Department said business inventories climbed by 0.8 percent in July following a revised 0.1 percent uptick in June. Economists had expected business inventories to rise by 0.3 percent.

RTTNews | 4h 53min ago

U.S. Housing Market Index Pulls Back To One-Year Low In September

Homebuilder sentiment in the U.S. has deteriorated by much more than anticipated in the month of September, according to a report released by the National Association of Home Builders on Wednesday. The report said the NAHB/Wells Fargo housing market index fell to 32 in September after inching up to 35 in August. Economists had expected the index to edge down to 34.

RTTNews | 5h 2min ago

U.S. Import Prices Rebound More Than Expected In August

A report released by the Labor Department on Wednesday showed import prices in the U.S. increased by much more than expected in the month of August. The Labor Department said import prices climbed by 0.7 percent in August after falling by a revised 0.3 percent in July.

RTTNews | 5h 16min ago

U.S. Retail Sales Jump 1.2% In August, Much More Than Expected

Retail sales in the U.S. shot up by much more than expected in the month of August, according to a report released by the Commerce Department on Wednesday. The Commerce Department said retail sales jumped by 1.2 percent in August after falling by a revised 0.5 percent in July. Economists had expected retail sales to increase by 0.7 percent.

RTTNews | 5h 31min ago

Bay Street Set To Open On Firm Note

The Canadian market is likely to open on a positive note Wednesday morning with materials stocks set to attract buying thanks to strong precious metals prices. A notable drop in crude oil prices could ease concerns about inflation. The focus is on the Federal Reserve's monetary policy announcement.

RTTNews | 6h 57min ago

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