Canadian markets add points

Some analysts believe another 25-point interest-rate hike is already built into stock valuations, but a high wage index increase could change the pace of the U.S. Federal Reserve’s interest rate hikes.

The Dow added 26.99 points to 10,164.92. Microsoft inched up, and Lucent continued to add share price after its announcement to sell off its telephone networking business.

Meanwhile, all telecom companies added price today, as Deutsche Telecom is rumored to be looking for an American partner to create a global company. The Nasdaq slipped by 29.65 to 4,754.43. Some chip-makers saw their prices slide after runs ups earlier in the week. The S&P dropped more than 10 points to close at 1381.76. Decliners trailed gainers by 17-13 on the NYSE and 23-21 on the Nasdaq.

In Canada, the TSE closed higher, with 10 of the 14 sub sectors making gains. Nortel and BCE added C$4.40 to $172.50, and $1.75 to $166.75 respectively. Laidlaw slipped 35 cents to $5.45 on heavy volume amid rumors that Onex might be an interested suitor. Oils and gas inched up while the price of crude climbed. Two hot techs, Research in Motion and Certicom jumped as well. The index closed up 104.5 to 9,516.1.

The CDNX cracked 4,000, adding 119.05 to 4,026. Prime Spot media doubled its price to 16 cents on heavy volume. Electrobusiness, described with an “unclassified business type” on the CDNX website, swelled by 1,066% to C$1.90.