Canada’s main stock index kicked off the trading week on another positive note on Monday, riding a wave of optimism around interest-rate cuts in the United States. However, lower crude prices and a drop in the energy sector kept the gains on the TSX in check, along with a decline among healthcare and telecom shares.
Wall Street is eagerly anticipating Federal Reserve Chairman Jerome Powell’s speech in Jackson Hole, Wyoming, on Friday for further insight into the potential for rate cuts. In the meantime, traders will analyze the minutes from the Federal Reserve’s latest meeting, which are scheduled for release on Wednesday.
The Canadian dollar traded for 73.32 cents U.S. compared with 73.06 cents U.S. on Friday.
U.S. crude futures traded $2.33 lower at $74.32 a barrel, and the Brent contract lost $2.00 to $77.68 a barrel.
The price of gold was down US$1.34 to US$2,504.77.
In world markets, the Nikkei was down 674.05 points to 37,388.62, the Hang Seng was up 139.41 points to 17,569.57, the FTSE was up 45.53 points to 8,356.94, and the DAX was up 99.29 points to 18,421.69.
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 generated with AI)