A divide across Canada’s main stock index sent it lower in Monday trading, while commodity prices also fell. Utilities, financial and mining stocks led the losers, while the tech, industrial and energy markets gathered some growth. Traders await economic and inflation data this week to adjust their rate cut expectations from Canadian and U.S. central banks.
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After a record-breaking week south of the border, key stock U.S. benchmarks were little changed. Amazon saw an increase in exposure, having joined the 30-stock Dow Jones Industrial Average, replacing Walgreens Boots Alliance. The Dow closed at an all-time high on Friday, the S&P broke above 5,100 for the first time in intra-day, and the NASDAQ had touched a 52-week high.
The Canadian dollar traded for 74.03 cents compared with 74.05 cents U.S. on Friday.
U.S. crude futures traded $1.21 higher at $77.57 a barrel, and the Brent contract added $0.93 to $82.55 a barrel.
The price of gold was down US$2.15 to US$2,032.14.
In world markets, the Nikkei was up 135.03 points to 39,233.71, the Hang Seng was down 91.12 points to 16,634.74, the FTSE was down 21.98 points to 7,684.30, and the DAX was up 3.90 points to 17,423.23.
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