Canada’s main stock index fell backward Monday, driven by a drop in energy shares, as investors await the U.S. Federal Reserve’s interest rate decision later this week to determine the direction of global monetary policy. The telecom sector was the only market to score any meagre gains for the TSX.
U.S. markets were divided again as Wall Street prepared for a busy week of corporate earnings, which will influence whether tech stocks can rebound. The FAANG stocks are scheduled to report their quarterly results in the coming days. Another significant event this week is the Fed meeting, with the central bank set to release a new policy statement Wednesday.
The Canadian dollar traded for 72.20 cents U.S. compared with 72.28 cents U.S. on Friday.
U.S. crude futures traded $1.27 lower at $75.89 a barrel, and the Brent contract also lost $1.27 to $79.86 a barrel.
The price of gold was down US$12.44 to US$2,383.91.
In world markets, the Nikkei was up 801.22 points to 38,468.63, the Hang Seng was up 217.03 points to 17,238.34, the FTSE was up 6.64 points to 8,292.35, but the DAX was down 96.88 points to 18,320.67.
The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.
(Top image: File)