The Canadian market ended sharply higher on Monday, extending gains to a third straight session, thanks to firm commodity prices and rising optimism about interest rate cuts by several central banks, including the Federal Reserve and the Bank of India, by the later part of the second quarter, or early third quarter.
Higher Canadian and U.S. futures, and rising crude oil and bullion prices point to a positive start on Bay Street Monday morning. Optimism about rate cuts by the Fed and several central banks in Europe is also expected to aid market's rise.
The Canadian market is up firmly in positive territory Monday afternoon with stocks from several sectors posting strong gains thanks to sustained buying support amid rising hopes of interest rate cuts by several central banks, including the Fed, European Central Bank and the Bank of Canada.
The Canadian market ended sharply higher on Monday, extending gains to a third straight session, thanks to firm commodity prices and rising optimism about interest rate cuts by several central banks, including the Federal Reserve and the Bank of India, by the later part of the second quarter, or early third quarter.
The Canadian market ended on a firm note on Friday on easing concerns about the outlook for Fed interest rates after data showed a slowdown in U.S. employment growth.