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TSX Again in Green

Equities in Toronto again experienced gains Wednesday, led by consumer and industrial stocks.

The TSX climbed 55.86 points to conclude business Wednesday at 20,278.94.

The Canadian dollar eased back 0.1 cents at 73.77 cents U.S.

Consumer staples stocks ruled the day, as North West Company towered over the competition, hiking $4.63, or 15.3%, to $34.83, while Empire Company had respectable gains of 77 cents, or 2.2%, to $35.51.

Industrials rumbled along, as Brookfield Business units captured 52 cents, or 2.5%, to $21.56, while Canadian National Railway chugged higher $2.41, or 1.6%, to $150.68.

In utilities, Hydro One gained 74 cents, or 2.1%, to $36.27, while Superior Plus moved ahead 29 cents, or 2.8%, to $10.58.

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Energy stocks faded, though, as Birchcliff Energy sagged 44 cents, or 5.2%, to $8.10, while Parex Resources dropped $1.24, or 4.8%, to $24.78.

In the materials sector, Dundee Precious Metals dumped 39 cents, or 4.6%, to $8.15, while K92 Mining handed back 14 cents, or 2.3%, to $6.01.

Gold was also on the downslide, with Torex Gold Resources handing back 63 cents, or 4.2%, to $14.31, while Wesdome Gold dipped 31 cents, or 3.8%, to $7.92.

ON BAYSTREET

The TSX Venture Exchange recovered 6.11 points, or 1.1%, to 582.90.

Seven of the 12 TSX subgroups pointed upward by the closing bell, led by consumer staples, up 1.3%, while industrials and utilities each gained 0.7%.

The five laggards were weighed most by energy, going south 1%, while materials lost 0.5%, and gold, duller by 0.4%.

ON WALLSTREET

The Dow Jones Industrial Average fell Wednesday as traders absorbed a hotter-than-expected August core inflation print.

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The 30-stock blue-chip index listed lower 70.46 points to close Wednesday at 34,575.53.

The S&P 500 index regained 5.54 points to 4,467.44.

The NASDAQ index moved positive 39.96 points to 13,813.58.

3M was the biggest laggard in the Dow list, dropping more than 5%. Caterpillar shares were lower by more than 2%.

August’s core inflation print in the consumer price index increased 0.3% and 4.3% respectively, against estimates for 0.2% and 4.3%.

Federal Reserve officials focus more on the core number as it provides a better indication of where inflation is heading over the long term.

Meanwhile, the headline numbers rose 0.6% last month, and were up 3.7% from a year ago. Economists surveyed by Dow Jones were looking for respective increases of 0.6% and 3.6%.

Wall Street has mostly priced in a pause in rate hikes at the Fed’s meeting next week. Fed funds futures pricing data as of Wednesday morning indicate a 97% probability of rates remaining the same.

Prices for the 10-year Treasury regained former strength, lowering yields to 4.25% from Tuesday’s 4.27%. Treasury prices and yields move in opposite directions.

Oil prices shed eight cents to $88.76 U.S. a barrel.

Gold prices faded $4.10 to $1,931.00 U.S. an ounce.