Canada’s main stock index endured a steep decline on Monday, thanks to a downturn in tech and financial stocks. Most investors stayed cautious, awaiting upcoming economic data from Canada and the United States later in the week. While the utilities sector saw the biggest drop on the TSX, energy was the top performer.
Wall Street also could not keep the momentum from Friday’s rally alive as U.S. indices essentially wiped out gains made before the weekend. Traders await key economic releases to watch this week, including the Federal Reserve meeting minutes on Wednesday and the consumer price index report on Thursday.
The Canadian dollar traded for 73.36 cents U.S. compared with 73.67 cents U.S. on Friday.
U.S. crude futures traded $2.92 higher at $77.30 a barrel, and the Brent contract rose $3.04 to $81.09 a barrel.
The price of gold was down US$2.92 to US$2,647.82. In world markets, the Nikkei was up 697.12 points to 39,332.74, the Hang Seng was up 362.91 points to 23,099.78, the FTSE was up 22.99 points to 8,303.62, and the DAX was down 26.57 points to 19,094.36.
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(Top image generated with AI)