stock markets: The loonie was up 0.06 of a U.S. cent at 81.79 cents, according to The Toronto Star. On commodity markets, the July crude contract rose 53 cents to $60.45 a barrel, but the energy sector was mired in negative territory, down 0.53 per cent. The S&P/TSX composite index closed up 37.66 points at 14,770.64, held back largely by the heavily weighted financial and energy sectors. The financial sector was also a weight, down 0.14 per cent. The Fed benchmark rate, which has sat near zero since 2008, is seen as a significant factor in fuelling strength in stock markets since the Great Recession. Meanwhile, gold issues advanced more than one per cent as August bullion shot up $25.20 to $1,202 an ounce.U.S. markets were sharply higher following word from the Fed that it was cutting its forecast for economic growth, a move that could also delay an increase in historically low interest rates.
(news.financializer.com). As
reported in the news.
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