S&P/TSX composite up Wednesday, U.S. stock markets also rise after rate decision

TORONTO — U.S. markets got a boost from the Federal Reserve's latest interest rate announcement, moving higher in the afternoon while Canadian markets followed suit.

For investors, “there’s a lot to like” in the Fed’s announcement today, said Mike Archibald, vice-president and portfolio manager with AGF Investments Inc. The central bank upgraded its growth outlook, noted Archibald — new projections from the central bank forecast stronger growth and inflation would persist into next year, which is why it expects fewer cuts in 2025.“You’re seeing your risk-on type sectors outperforming,” said Archibald, such as discretionary, communications, services, industrials and financials in the U.S.Cuts are still likely to come mid-year, said Archibald.

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S&P/TSX composite creeps higher after inflation report, U.S. stock markets riseTORONTO — Canada's main stock index eked out a gain Tuesday after a new report on inflation surprised to the downside, while U.S. markets rose ahead of Wednesday's interest rate announcement. The S&P/TSX composite index was up 23.
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