Canada’s main stock index ended on the higher side of flat on Tuesday as tensions between Russia and Ukraine intensified, following President Vladimir Putin’s update to the nuclear doctrine, which negatively impacted global risk assets.
Investors around the world expressed concern after Putin approved a new nuclear policy, indicating that Russia might consider a nuclear strike if it faced a conventional missile attack backed by a nuclear power.
Two days after the Biden administration permitted Ukraine to use US weapons for strikes deeper within Russia, Ukraine hit a Russian weapons arsenal across the border for the first time.
Statistics Canada reported that the consumer price index rose by 2.0 per cent year-over-year in October, an increase from 1.6 per cent in September. On a seasonally adjusted basis, the index saw a monthly rise of 0.3 per cent in October.
Investors have their calendars marked for Wednesday’s important earnings reports from retailers and especially chipmaker Nvidia (NASDAQ:NVDA), given the interest in the demand signals for its Blackwell AI chips.
The Canadian dollar traded for 71.60 cents US compared to 71.33 cents US on Monday.
US crude futures traded $0.24 higher at US$69.40 a barrel, and the Brent contract added $0.02 to US$73.32 a barrel.
The price of gold was up US$22.43 to US$2,631.56.
In world markets, the Nikkei was up 193.58 points to 38,414.43, the Hang Seng was up 87.06 points to 19,663.67, the FTSE was down 10.30 points to 8,099.02, and the DAX was down 128.88 points to 19,060.31.
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(Top image generated with AI)