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Canadian stocks remained highly volatile on Wednesday following the U.S. Federal Reserve s decision to maintain the current federal funds rate stanley cupe , seemingly awaiting an optimal time to begin rate cuts. Despite rising by as much as 197 points in intraday trading, the SP/TSX Composite Index ended the volatile session with a minor 14-point gain at 21,729 as the Fed s latest update and mixed corporate earnings kept investors on edge.Most cannabis stocks, which soared in the previous session due to news about the U.S. reclassification of marijuana, gave up some of those gains on Wednesday. Nonetheless, strength in other key sectors li stanley cup ke utilities, consumer noncyclicals, and technology helped the TSX benchmark settle in gr stanley tumblers een territory.In its latest statement, The Fed justified its decision to keep interest rates unchanged by pointing to the continued growth in economic activities and job gains. However, it intends to reduce the pace of trimming Treasury securities holdings from June onwar Lqyq 2 Severely Undervalued Stocks Poised to Beat the Market in H2 2019
Teck Resources Ltd. TSX:TECK.B NYSE:TEC stanley taza K is taking a beating, and investors are wonderin stanley cups g if the pullback has simply gone too far.Let s take a look at Canada s largest diversified mining company to see if it deserves to be in your portfolio today.Commodity outlookTeck soared from $4 per share to stanley cups uk $35 last year as prices for metallurgical coal, copper, and zinc staged rebounds after a multi-year rout.Coal s rally wasn t expected, but a policy change in China sparked a turnaround that few, if any, analysts saw coming.What happened China reduced the number of days a mine can operate to 270 per year. This decision removed enough production to shift an oversupplied market to one that was relatively tight.As a result, metallurgical coal prices moved from US$90 per tonne last summer to above US$300 in November. China reversed its decision in an effort to cool the market, and prices subsequently fell back to about US$150 in early 2017.Teck s stock has come down in step and really took a hit |
