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TSX Hits Record High as Fed Chief Signals Rate Cuts
Canada’s main stock index surged to a new all-time high on Friday, driven by a broad-based rally. The catalyst? U.S. Federal Reserve Chair Jerome Powell’s endorsement of imminent interest rate cuts.
At 10:41 a.m. ET (14:41 GMT), the S&P/TSX Composite Index reached 22,574.65, surpassing its previous record. Energy and financial sectors led the gains, fueled by optimism that rate cuts could bolster the economy and stave off recession.
This marks a significant milestone for Canadian investors, with the TSX adding 1% for the week, its third consecutive week of gains.
Stay tuned for further updates as the market responds to Powell’s remarks!
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