TORONTO — Gains in base metals, utilities and industrials helped lead Canada's main stock index higher Wednesday, after the Bank of Canada announced a highly anticipated interest rate cut, while U.S. markets rallied, with the Nasdaq gaining almost two per cent.In New York, the Dow Jones industrial average was up 96.04 points at 38,807.33. The S&P 500 index was up 62.69 points at 5,354.03, while the Nasdaq composite was up 330.86 points at 17,187.90.
The August gold contract was up US$28.10 at US$2,375.50 an ounce and the July copper contract was up seven cents at US$4.61 a pound.GENEVA — U.N. Secretary-General António Guterres called Wednesday for a “windfall” tax on profits of fossil fuel companies to help pay for the fight against global warming, calling them the “godfathers of climate chaos.”Small-cap stocks are still trailing the broader markets year to date, but some on Wall Street see potential for upside in the group.
"The current upcycle started in late'23, so we are only in quarter 3, implying strength likely till mid-26E," Bank of America wrote on Monday.These stocks now have dividend yields above 7%. The post Dividend Deals: 2 Top TSX Stocks That Still Look Undervalued appeared first on The Motley Fool Canada.Whitecap Resources is a TSX dividend stock that offers you a tasty monthly dividend yield and a growing payout in 2024.
The Bank of Canada has lowered its key interest rate to 4.75 per cent, marking the bank's first rate cut since March 2020.Bank governor Tiff Macklem said in opening remarks that the bank's monetary policy no longer needs to be as restrictive."We've come a long way in the fight against inflation. And our confidence that inflation will continue to move closer to the two per cent target has increased over recent months," Macklem said.Economists were largely expecting the move.