S&P/TSX composite rises nearly 500 points, U.S. market gains tempered by Fed minutes [Advisor.ca (Canada)]
Meta Platforms, Inc. - Class A (META)
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Source: Advisor.ca
Canada's main stock index rose nearly 500 points on Wednesday, while U.S. markets lost some steam after the release of U.S. Federal Reserve minutes. “Ever since the Fed meeting minutes came out, we seem to have hit a bit of a slump,” said Michael Currie, senior investment advisor at TD Wealth. The minutes showed many U.S. central bank officials want to see inflation fall further before they would support additional interest rate cuts this year. Lower rates can give a boost to the American economy and prices for investments, but that comes at the cost of potentially worsening inflation. “The main talk is that they're saying there were some new members of the committee this time, and there's definitely some dissension,” Currie said. The Dow Jones industrial average was up 129.47 points at 49,662.66. The S&P 500 index was up 38.09 points at 6,881.31, while the Nasdaq composite was up 175.25 points at 22,753.64. Nvidia climbed 1.6% after Meta Platforms announced a long-term par
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