Bay Street Likely To Open On Mixed Note
(RTTNews) - Canadian shares look headed for a mixed start Thursday morning, tracking the trend in commodity markets. Activity is likely be stock specific in the market, and trading for much of the day's session may remain a bit lackluster.
The Canadian market ended on a negative note on Wednesday, coming off record highs and snapping a five-session winning streak, as technology stocks tumbled following a sell-off in U.S. semiconductor stocks amid prospects of tighter trade curbs on Chinese companies.
The benchmark S&P/TSX Composite Index, which fell to 22,808.17 in the session, ended with a loss of 144.22 points or 0.63% at 22,851.17.
Asian stocks fell broadly on Thursday as tech shares came under heavy selling pressure on signs of worsening trade tensions between the China and the United States.
Media reports suggested that Washington was mulling tighter curbs on exports of advanced semiconductor technology to China.
Separately, Republican presidential nominee Donald Trump suggested Taiwan should pay the U.S. for defense in a controversial interview.
European are up ahead of the monetary policy announcement from the European Central Bank (ECB). Markets expect the ECB to keep its key rates on hold after cutting the rates for the first time in five years in June. The main refinancing rate was lowered by 25 basis points to 4.25%.
The bank is also set to refrain from providing more information about its future course of action amid concerns about the strength of wage growth and underlying inflation.
In commodities, West Texas Intermediate Crude oil futures are down $0.11 or 0.13% at 82.74 a barrel.
Gold futures are up $8.50 or 0.35% at $2,468.40 an ounce, while Silver futures are gaining $0.228 or 0.75% at $30.605 an ounce.
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Canadian Market Likely To Open On Mixed Note
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