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Bay Street Likely To Open On Mixed Note
(RTTNews) - Canadian shares are likely to open on a mixed note Tuesday morning with investors looking for directional clues as they await the outcome of the U.S.-China trade negotiations.
Energy stocks may find support thanks to higher oil prices.
The Canadian market, which recovered after a weak start on Monday, failed to hold gains and ended the session modestly lower. The benchmark S&P/TSX Composite Index closed down 53.33 points or 0.2% at 26,375.80, off the day's high of 26,464.46.
Optimism over the ongoing US-China talks on trade policies helped limit market's downside.
Asian stocks moved higher on Tuesday ahead of a second day of talks in London between China and the U.S. to resolve tariff disputes and strengthen economic relations. U.S. officials expressed optimism after the first day of negotiations, boosting investor sentiment.
However, regional gains were capped amid caution ahead of key U.S. inflation readings due this week and the Federal Reserve's interest-rate decision, which is slated for June 18.
European stocks are turning in a mixed performance in cautious trade with investors focusing on the ongoing U.S. - China trade talks in London.
In commodities, West Texas Intermediate Crude oil futures are up $0.36 or 0.54% at $65.65 a barrel.
Gold futures are down slightly at $3,354.40 an ounce, while Silver futures are gaining $0.099 or 0.27% at $36.895 an ounce.
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