Bay Street Likely To Open On Mixed Note
(RTTNews) - Canadian shares are likely to open on a mixed note on Wednesday, tracking somewhat subdued European stocks and mixed commodities prices.
Data on Canadian motor vehicle sales for the month of March is due at 8:30 AM ET. Car registrations in Canada increased to 109,871 units in February from 103,380 units in January.
The Canadian market ended sharply lower on Tuesday as hotter-than-expected inflation data raised bets the Bank of Canada will tighten its policy by hiking interest rates.
The benchmark S&P/TSX Composite Index ended with a loss of 297.90 points or 1.45% at 20,242.07, recording its biggest single session drop in about three weeks.
Asian stocks ended mixed on Wednesday amid concerns about China's uneven economic recovery and little progress in U.S. debt ceiling talks.
European stocks are turning in a mixed performance amid worries over the U.S. debt ceiling and the potential for a catastrophic debt default.
The mood is cautious following hawkish comments from some Federal Reserve officials, and on growing concerns over China's economic recovery.
In commodities, West Texas Intermediate Crude oil futures are up $0.15 or 0.21% at $71.01 a barrel.
Gold futures are down $1.00 or 0.05% at $1,992.00 an ounce, while Silver futures are lower by $0.028 or 0.11% at $23.865 an ounce.
Oil Prices Extend Losses Amid Easing Supply Concerns
European Shares Drift Lower In Cautious Trade
Bank Of Japan Raises Rate To 1.25%; Highest Since 1995
Asian Shares Mostly Higher As Tech Stocks Surge
Yen Falls Following BoJ Rate Decision
European Shares Poised For Cautious Start
Yen Falls Against Majors
