21.08.202513:41:53UTC+00TSX Holds Near the Flatline

On Thursday, the S&P/TSX Composite index remained relatively stable, surpassing the performance of its U.S. counterparts as markets continued to evaluate the future of North American interest rates. Gains were chiefly led by the mining sector thanks to strengthening bullion prices, with notable increases of around 1% for Wheaton Precious Metals, Agnico Eagle, and Barrick Gold. New data revealed a significant rise in domestic producer prices, which might limit the possibility of further rate reductions by the Bank of Canada. Conversely, leading banks saw slight declines, with TD, RBC, and BMO each losing less than 0.5%. Meanwhile, Air Canada's shares remained unchanged after the company announced plans to resume operations soon. The airline is experiencing a monthly decline exceeding 10%, attributed to disappointing earnings results and the ongoing suspension of guidance due to an extended aircrew strike that grounded flights for several days. Looking ahead, attention turns to Fed Chairman Powell's upcoming address at Jackson Hole, expected to shed light on Fed policy amidst mounting indications of weakening labor markets and persistent inflation.