Stocks trading in Canada’s busiest market didn’t move much on Tuesday, but that doesn’t mean there wasn’t plenty of action on Bay Street. Investors on Tuesday lost a little more hope of an interest rate cut this year after reading new U.S. producer inflation data that came down hotter than expected. A sharp drop among energy and industrials shares was too much for any gains made by the mining and healthcare on the TSX.
The Dow returned to form after its first losing session in nine, snapping what was its longest winning streak since December. With one inflation report in hand, traders now look to Wednesday’s consumer inflation report.
The Canadian dollar traded for 73.25 cents U.S. compared with 73.15 cents U.S. on Monday.
U.S. crude futures traded $0.96 lower at $78.16 a barrel, and the Brent contract lost $0.87 to $82.49 a barrel.
The price of gold was up US$18.34 to US$2,356.89.
In world markets, the Nikkei was up 176.60points to 38,356.06, the Hang Seng was down 41.35 points to 19,073.71, the FTSE was up 13.14 points to 8,428.13, and the DAX was down 25.80 points to 18,716.42.
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