Global Markets

Canadian Markets

Canada’s TSX dropped initially, as oil prices fell over 1 percent, and gold prices rose slightly. The TSX rose after the Federal Reserve cut interest rates by a half of a percent. Canadian market analysts are warning investors that the TSX is at an inflection point, and recommends selling Canadian stock positions as they believe a hard landing for the economy is imminent.

US Markets

American stock markets traded the day in a volatile fashion as investors anticipated the Federal Reserve’s first interest rate cut in over four years.  Markets rose across the board, after the Federal Reserve cut interest rates, as traders and investors examine Powell’s diction for future policy trends.

Japanese Markets

Japan’s Nikkei index saw a modest rebound, buoyed by a softer yen, which lately dictates market direction.

Chinese Markets

Chinese stocks closed higher, driven by gains in the property and financial sectors, indicating some recovery in investor sentiment following regulatory challenges earlier in the year.

European Markets

European shares edged lower as investors opted to remain cautious. The UK stock market notably underperformed, with the British pound appreciating slightly as service sector inflation accelerated in August. This inflationary pressure raises questions about the Bank of England’s potential policy responses, adding another layer of complexity to market dynamics.