Bay Street May Open On A Slightly Positive Note
(RTTNews) - Canadian shares look headed for a slightly positive start on Tuesday, tracking steady European markets amid hopes of a Russia-Ukraine peace deal after U.S. President Donald Trump described his meeting with Ukrainian President Volodymyr Zelenskyy and several other European leaders as "very good."
Trump also said that he's begun arranging a meeting between Zelenskyy and Russian President Vladimir Putin within the next couple of weeks.
Federal Reserve's Jackson Hole Symposium that gets underway on Thursday could shed light on whether the U.S. central bank will cut interest rates in September.
Data on Canadian inflation, due at 8:30 AM ET, is likely to make a significant impact on market's mood.
Weak crude oil prices may weigh on energy stocks and limit market's upside.
The Canadian market ended slightly up on Monday as investors focused their attention on US-Ukraine negotiations, and awaited the nation's inflation data.
The benchmark S&P/TSX Composite Index settled at 27,922.85, up by 17.36 points or 0.06%.
Asian stocks ended mostly lower on Tuesday as investors awaited keynote speeches from top central bankers, including Fed Chair Jerome Powell for signals on the path of interest rates.
The major European markets are up in positive territory, riding on optimism about a potential Russia-Ukraine peace deal.
In commodities trading, West Texas Intermediate Crude oil futures are down $0.70 or 1.07% at $62.72 a barrel.
Gold futures are gaining $4.20 or 0.13% at $3,382.20 an ounce, while Silver futures are up $0.076 or 0.2% at $38.105 an ounce.
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