India, Aug. 12 -- Canadian stocks moved higher on Tuesday as US Fed rate cut expectations persist strongly based on today's US inflation data.
After opening higher than previous the close, the benchmark S&P/TSX Composite Index saw further upside to reach an intraday high of 27,954.02 by mid-afternoon. Then, inching down but staying positive, the index managed to settle at 27,921.26, up by 146.03 points (or 0.53%)
Data revealed by the US Labor Department revealed core consumer prices in the US rose by 0.3% from July, while the annual core consumer price inflation rate accelerated to 3.1% in July.
In July, the Consumer Price Index (CPI) in the US increased 0.2%, month-over-month, while the US annual inflation rate remained at 2.7%.
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