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Stockhouse @ the Bell: TSX up as Fed minutes indicate no rush to hike interest rates

Stockhouse Editorial
0 Comments| August 20, 2014


TORONTO _ The Toronto stock market closed higher as traders got some reassurance about interest rates from the minutes of the latest meeting of the U.S. Federal Reserve.

The S&P/TSX composite index rose 84.78 points to 15,561.95. The Canadian dollar was down 0.23 a cent at 91.15 cents US as the greenback strengthened after the release of the minutes.

They indicated that the Fed is in no rush to hike rates. However, they also showed greater dissension among Fed members on how fast the labour market is improving, a key element in determining when the Fed will raise rates from near zero, where they've been since the financial crisis.

The Dow Jones industrials gained 59.54 points to 16,979.13, the Nasdaq declined 1.03 points to 4,526.48 and the S&P 500 index climbed 4.91 points at 1,986.51.

Attention now turns to Friday when Fed chairwoman Janet Yellen speaks to the central bank's annual economic symposium.

For news about small stocks that made big moves in Wednesday’s trading, please read the
Stockhouse Canadian Small and Micro-cap Stock Report


Tags: ENERGY OIL & GAS INTEGRATED

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