Bay Street Likely To Open On Cautious Note

(RTTNews) - Despite the optimism surrounding US-Iran peace agreement, the Canadian market is likely to see cautious moves by investors on Tuesday, tracking weak crude oil prices and largely subdued bullion movements.

Also, the focus will be on the Federal Reserve's monetary policy announcement, due on Wednesday. The Fed's two-day monetary policy meeting gets underway today.

In corporate news, Groupe Dynamite Inc. (GRGD.TO) has reaffirmed its annual revenue growth guidance. For fiscal 2026, the Group still expects revenue growth of 22% to 25%, with comparable store sales growth of 11% to 14%.

The company, however, has revised up the adjusted EBITDA margin outlook for the year. Groupe Dynamite now projects an adjusted EBITDA margin of 38.25% to 39.50%, compared with the earlier guidance of 37.75% to 39.25%.

The Canadian market closed notably higher on Monday, reacting to U.S. President Donald Trump's announcement that a framework agreement has been reached between the U.S. and Iran which was confirmed by Iran as well.

The benchmark S&P/TSX Composite Index ended with a gain of 337.79 points or 0.97% at 35,275.64.

Asian stocks ended mixed on Tuesday as investors paused to assess the durability of the relief rally fueled by the long-awaited U.S.-Iran preliminary deal to end their conflict. Also, the mood was a bit cautious with investors looking ahead to the U.S. Federal Reserve's monetary policy announcement on Wednesday.

The major European markets are up firmly in positive territory this afternoon with investors largely continuing to cheer the progress in Middle East peace efforts.

In commodities trading, West Texas Intermediate Crude oil futures are down $2.43 or 3.01% at $78.32 a barrel.

Gold futures are up $10.00 or 0.23% at $4,361.60 an ounce, while Silver futures are gaining $0.250 or 0.35% at $70.430 an ounce.