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TSK ekes out gain after August GDP report, U.S. markets rise ahead of rate decision

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TORONTO — Canada's main stock index eked out a small gain on Tuesday despite weakness in metals and utilities stocks, while U.S. markets rose the day before the central bank is set to make a decision on interest rates.

In New York, the Dow Jones industrial average was up 123.91 points at 33,052.87. The S&P 500 index was up 26.98 points at 4,193.80, while the Nasdaq composite was up 61.76 points at 12,851.24.

The report wasn’t really a surprise, said Greg Taylor, chief investment officer at Purpose Investments. On Wednesday, the U.S. Federal Reserve is slated to announce its interest rate decision. Analysts have been saying the central bank will likely hold its key rate, echoing the Bank of Canada.

 

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