MID-DAY: Wall Street blooms on positive US economic outlook; Gold and oil pull ahead from Thursday dip
The Dow is gaining strength from a positive outlook on the US economy.
The US Federal Bank Chair noted America’s economy is doing well enough to push for a gradual increase of the interest rate. The chair said he expects the economy to continue seeing healthy growth throughout the year.
Following this report, the Dow is growing 119 points to 25,776.
Across the border, the TSX is getting a healthy boost from gold and oil gains, up 73 points to 16,400.
Gold is rallying back from a major dip yesterday, up to 1,213 an ounce.
The price of US crude is gaining to 69.06 a barrel.
Meanwhile investors will be looking for hints on the Bank of Canada’s stance on its own interest rate when Governor Stephen Poloz interviews with CNBC this afternoon.