TSX rises broadly on Janet Yellen nod

U.S. President Barack Obama applauds after announcing his nomination of Janet Yellen to head the...

U.S. President Barack Obama applauds after announcing his nomination of Janet Yellen to head the Federal Reserve at the White House in Washington October 9, 2013. (REUTERS/Jonathan Ernst)

Reuters

, Last Updated: 7:07 PM ET

Canada's main stock index rose broadly on Wednesday as investors were encouraged by the nomination of a new Federal Reserve chief and on signs of hope for a resolution to the government shutdown south of the border.

The Toronto Stock Exchange's S&P/TSX composite index unofficially closed up 37.92 points, or 0.3%, at 12,730.33.

Strains in short-term interest rates and funding markets increased on Wednesday in the feud over the U.S. debt ceiling, but the dollar rallied after the Federal Reserve said the decision not to reduce bond purchases in September was a close call for some policymakers.

On Wall Street, the Dow and S&P 500 ended modestly higher as Republicans and Democrats in Congress said they saw signs of hope for a break in the fiscal impasse in the ninth day of government shutdown.

Dow Jones industrial average rose 26.65 points or 0.18%, to 14,803.18, the S&P 500 gained 0.97 point or 0.06%, to 1,656.42 and the Nasdaq Composite dropped 17.057 points or 0.46%, to 3,677.776.


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