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Markets & Finance

Wary of U.S. Economy, Canada Shares Inch Up

The TSE 300 managed a 31.7 point gain to close at 8041.7. This was actually a negative close considering the favorable Fed move (50-basis-point cuts in both the Fed funds and discount rates and maintaining easing bias). The bearish reversal in the DJIA was a weight. The concern is that the Fed will continue to cut aggressively as they are very worried about the state of the U.S. economy.

European markets were trading higher, after selling off on Monday. London's Financial Times-Stock Exchange 100 index ended up 152.40 points, or 2.68%, to 5,842.90. Germany's DAX Index added 5.70 points, or 0.09%, to 6,070.38. In Paris, the CAC 40 gained 56.41 points, or 1.03%, to 5,544.13.

Asian markets ended mixed. Japan's Nikkei 225 index advanced 181.01 points, or 1.30%, to 14,054.03. In Hong Kong, the Hang Seng index lost 9.08 points, or 0.07%, to 13,250.09.

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