Strength in utility and telecom stocks helped lift Canada’s main stock index higher on Thursday, while U.S. stock markets moved lower.In New York, the Dow Jones industrial average finished down 9.98 points at 33,119.57. The S&P 500 index fell 5.56 points at 4,258.19, while the Nasdaq composite was down 16.18 points at 13,219.83.
“We saw some selling pressure on those longer-duration equity securities, the technology and probably the main cap names that tend to do better when the yields are falling, not rising.” “There’s a lot of volatility after this recent meeting. This higher-for-longer narrative was not digested well by the broad U.S. equity market,” he said. “And now, it’s what’s next? Are they going to raise another core point? Are they going to pause for good now?”
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