Bay Street Likely To Open On Mixed Note
(RTTNews) - Canadian shares are likely to open on a mixed note on Tuesday, tracking global stocks and commodity prices. The focus will be on U.S. consumer price inflation data, and the upcoming monetary policy announcement from the Federal Reserve.
The Fed is widely expected to leave interest rates unchanged on Wednesday. The focus is on the central bank's accompanying statement and projections.
Market is also awaiting reports on U.S. producer price inflation, retail sales and industrial production this week.
The Canadian market ended marginally down on Monday, despite recovering from early lows. Consumer discretionary, healthcare, energy and materials shares were the major losers.
The mood was cautious right through the day's session with investors looking ahead to the monetary policy meeting of the Federal Reserve, and a slew of crucial economic data, for direction.
The benchmark S&P/TSX Composite Index ended down 13.18 points or 0.06% at 20,318.36, recovering from a low of 20,209.28.
Asian stocks ended broadly higher on Tuesday after a cautious session as investors awaited cues from key U.S. CPI report and the Federal Reserve's rate decision.
European stocks are turning in a mixed performance in cautious trade ahead of key economic data, and rate decisions by major central banks.
In commodities, West Texas Intermediate Crude oil futures are down $0.37 or 0.52% at $70.95 a barrel.
Gold futures are gaining $9.80 or 0.51% at $2,003.50 an ounce, while Silver futures are up $0.197 or 0.84% at $23.255 an ounce.
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