Bay Street May Open On Mixed Note
(RTTNews) - Canadian shares are likely to open on a mixed note Tuesday morning with investors tracking the trend in the commodities market, and awaiting fresh economic data from the U.S. Some profit taking is likely at a few counters in technology and materials sectors after recent strong upmove.
Investors will also be following the progress in Ukraine peace talks.
The Canadian market climbed to a near two-week high on Monday, extending Friday's gains, amid expectations of another U.S. Federal Reserve rate cut in December after dovish comments from a couple of Fed officials.
The benchmark S&P/TSX Composite Index settled with a gain of 443.70 points or 1.47% at 30,604.35, led by gains in technology and materials stocks.
Asian stocks ended broadly higher on Tuesday, with Chinese and Hong Kong markets turning in a fine performance after U.S. President Donald Trump announced an April visit to China at Xi Jinping's invitation following a productive phone call.
European stocks are turning in a mixed performance with a positive bias, as investors look ahead to a fresh batch of U.S. economic data for directional clues.
In commodities, West Texas Intermediate Crude oil futures are down $0.21 or 0.37% at $58.63 a barrel.
Gold futures are gaining $36.70 or 0.89% at $4,130.90 an ounce, while Silver futures are up $0.714 or 1.4% at $51.040 an ounce.
Canadian Dollar Advances Against Majors
German Inflation Steady At 2.3% In November
India Economic Growth Climbs To 8.2%, Strongest Since Early 2024
Swiss Market Ends Flat
European Stocks Close On Positive Note Despite Shaky Start
TSX Scales New Record High As Strong GDP Data, Fed Rate Hopes Lift Sentiment
Swiss Economy Shrinks As Estimated
