Despite early weakness among technology and material shares dragging down Canada’s main stock index on Tuesday. The market balanced risk sentiment with supply concerns and the prospect of higher demand as China relaxes its COVID restrictions. The energy sector saw growth on the continued stability of oil prices. The utilities market ended the trading day lower.
Investors are waiting for US inflation data and the minutes from the European Central Bank meeting this week for cues on monetary policy tightening.
It was a rough start on Wall Street, early losses were spurred by a profit warning from Target (down 2 per cent) that renewed concerns about the economic outlook. However, by close, markets had moved solidly into the green.
Today in the Markets
| TSX | 20,928.21 | +109.12 |
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| TSXV | 722.77 | +4.14 |
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| CSE | 321.57 | -0.21 |
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| DJIA | 33,180.14 | +264.36 |
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| NASDAQ | 12,175.23 | +113.86 |
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| S&P 500 | 3,160.68 | +39.25 |
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The Canadian dollar traded for 79.82 cents US compared to 79.66 cents US on Monday.
US crude futures traded 1.24 per cent higher at $120.00 a barrel, while the Brent contract rose 1.28 per cent to $121.10 a barrel.
The price of gold was up $14.85 US to $1,854.20.
In world markets, the Nikkei was up 28.06 points to 27,943.95 the Hang Seng was down 122.23 points to 21,531.67 the FTSE was down 9.29 points to 7,598.93, and the DAX was down 97.19 points to 14,556.62.
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