Canada’s main stock index sunk lower on Tuesday, weighed down by the energy sector leading a broad decline. Traders have been holding off on any major moves amid broader uncertainty around a US debt deal.
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Back from the Memorial Day holiday, US markets were mixed and the S&P 500 dipped after the Biden administration and Republican lawmakers reached a tentative deal on raising the debt ceiling. President Biden and House Majority Leader McCarthy reached an agreement to avoid a default over the weekend and Congress set to vote on the legislation as soon as Wednesday.
The Canadian dollar traded for 73.51 cents US, compared to 73.56 cents US on Monday.
US crude futures traded $2.98 lower at $69.69 a barrel, and the Brent contract lost $3.24 to $73.83 a barrel.
The price of gold was up US$16.75 to US$ 1,958.52.
In world markets, the Nikkei was up 94.62 points to 31,328.16, the Hang Seng was up 44.67 points to 18,595.78, the FTSE was down 110.43 points to 7,516.77, and the DAX was down 43.82 points to 15,908.91.
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