A decline in energy and mining stocks tracking lower oil and metal prices pushed the TSX lower on Tuesday. Canada’s energy sector could come under more pressure because of a decline in oil prices as markets still await an Israeli response to the Iranian rocket attacks that had triggered a rally in crude last week. The industrials sector was the top gainer with tech a close second.
Sponsored by
On Wall Street, the Nasdaq and S&P 500 rebounded after a losing session. U.S. markets have been volatile this month given the escalating conflict in the Middle East. The S&P is up by a little more than 1.3 per cent in October after a 2 per cent gain in September. Traders are also weighing the impact that Hurricane Milton will have on the freight and insurance industries, among others.
The Canadian dollar traded for 73.25 cents U.S. compared with 73.36 cents U.S. on Monday.
U.S. crude futures traded $3.22 lower at $73.92 a barrel, and the Brent contract lost $3.37 to $77.56 a barrel.
The price of gold was down US$20.51 to US$2,622.79.
In world markets, the Nikkei was down 395.20 points to 38,937.54, the Hang Seng was down 2,172.99 points to 20,926.79, the FTSE was down 113.01 points to 8,190.61, and the DAX was down 37.63 points to 19,066.47.
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)