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2026-09-17 21:56:11
[S&P/Tronx Composite Index Rises Nearly 1% as Gold Mining Stocks Strengthen] ⑴ The S&P/Tronx Composite Index rose nearly 1% on Thursday, trading near 36,000, as a jump in gold prices supported mining stocks. ⑵ Gold prices rebounded as the recent oil price rally lost momentum, limiting a surge in bond yields. ⑶ This followed reports that Saudi Arabia aims to restore about half of the capacity of its east-west pipeline within days and to full capacity within six weeks. ⑷ Agnico Eagle, Barrick, and WPM rose about 2%. ⑸ The pause in the oil price rally also supported credit-sensitive stocks, as easing inflationary pressures helped lower bond yields. ⑹ Major bank stocks traded above flat, with CIBC and National Bank rising about 0.5%. ⑺ Meanwhile, the Federal Reserve raised interest rates, and members of the Federal Open Market Committee projected in their Summary of Economic Projections that another rate hike might be needed this year. Federal Reserve Chairman Kevin Warsh said inflation remained high, and data released last week showed that U.S. core inflation rose more than expected in August.
