Canada's main stock index edged lower on Wednesday as lower oil prices weighed on energy shares and investors took stock of recent market gains, with some taking profit after the U.S. Federal Reserve began its interest rate cutting campaign.

Asian markets have forged higher after the Federal Reserve kicked off its efforts to prevent a recession in the U.S. with a bigger-than-usual cut to interest rates

Do rate cuts with the stock market at or near all-time highs provide bulls additional fuel or do they portend trouble ahead? Dow Jones Market Data ran back the tape.