Investors returned from a long weekend taking stock of domestic inflation data with raised expectations for an exceptionally large interest rate cut next week. While energy led the drop on the TSX in Tuesday trading, most other sectors provided some gains. Statistics Canada reported that the consumer price index rose 1.6 per cent on a year-over-year basis in September 2024, down from a 2.0 per cent increase in August. On a seasonally adjusted monthly basis, the index was unchanged last month at 0.0 per cent.
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U.S. markets fell, taking a breather from the rally that lifted Wall Street to record highs, while traders sifted through the latest earnings reports.
The Canadian dollar traded for 72.46 cents U.S. compared to 72.66 cents U.S. on Friday.
U.S. crude futures traded $3.38 lower at $70.45 a barrel, and the Brent contract lost $3.37 to $74.09 a barrel.
The price of gold was up US$14.81 to US$2,664.21.
In world markets, the Nikkei was up 304.75 points to 39,910.55, the Hang Seng was down 774.08 points to 20,318.79, the FTSE was down 43.38 points to 8,249.28, and the DAX was down 22.10 points to 19,486.19.
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(Top image generated with AI)