Canada’s main stock index hit a record high on Monday while investors looked ahead to a week filled with crucial domestic and US economic data. Industrials was the chief gainer on the TSX while the energy market provided the biggest drop.
US stock futures rose, with the Dow also hitting a fresh high during trading as Wall Street began a shortened week due to Thanksgiving. Real estate stocks gained attention following President-elect Donald Trump’s nomination of hedge fund manager Scott Bessent for US Treasury secretary. Throughout the week, several retailers and tech companies are expected to announce their quarterly earnings. Traders are once again focusing on interest rate projections. Investors are waiting for the release of October’s personal consumption expenditure price index, the Federal Reserve’s preferred measure of inflation, on Wednesday. The minutes from the Fed’s latest policy meeting are also set to be released before Thanksgiving.
The Canadian dollar traded for 71.52 cents US compared to 71.51 cents US on Friday.
US crude futures traded US$2.18 lower at US$69.06 a barrel, and the Brent contract lost US$2.04 to US$73.13 a barrel.
The price of gold was down US$88.37 to US$2,627.96.
In world markets, the Nikkei was up 496.29 points to 38,780.14, the Hang Seng was down 78.98 points to 19,150.99, the FTSE was up 29.60 points to 8,291.68, and the DAX was up 82.61 points to 19,405.20.
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)