TSX composite posts small gain Tuesday, U.S. stock markets mixed

In Canada, the latest data on inflation showed more of a slowdown than analysts expected as headline inflation dipped to 3.8 per cent in September. Meanwhile in the U.S., fresh retail sales data came in stronger than anticipated.In New York, the Dow Jones industrial average was up 13.11 points at 33,997.65. The S&P 500 index was down 0.43 points at 4,373.20,while the Nasdaq composite was down 34.24 points at 13,533.75.

While the U.S. banks recently kicked off the third-quarter earnings season with stronger-than-expected headline numbers, they belied signs of consumers beginning to pull back or falter, especially in lower income brackets, said Chiu. Inflation continues to stabilize but is still too high, and the central banks are walking a thin line, said Chiu. She sees rates remaining higher for longer, and notes the lagged effect of higher rates is increasingly taking a toll on the consumer, but pointed out that analysts have been surprised many times since the banks started raising rates.

“I think it’s too early to say what the Fed’s next move will be. But the market is anticipating a hold … in the current period.”

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