Bay Street Likely To Open With Positive Bias
(RTTNews) - Canadian stocks may open with a positive bias on Tuesday as oil shed early gains and slipped into negative territory, and gold prices edged higher.
According to a flash estimate, the Canadian GDP is expected to have expanded by 0.2% from the previous month in August.
The Canadian market ended notably lower on Monday amid concerns about inflation and possible interest rate hikes by central banks amid elevated oil prices.
The benchmark S&P/TSX Composite Index ended with a loss of 311.03 points or 0.87% at 35,489.86, nearly 150 points off the day's low of 35,341.68.
Asian stocks turned in a mixed performance on Tuesday with investors tracking the negative sentiment in Wall Street, and assessing the Middle East situation and oil prices. Markets also digested the quarter percentage rate hike by Reserve Bank of Australia.
The major European markets are up in positive territory, with strength in mining, pharmaceuticals and technology sectors aiding the surge.
In commodities, West Texas Intermediate Crude oil futures are down $1.81 or 1.95% at 90.79 a barrel, after having climbed to $94.74 a barrel earlier.
Gold futures are up $17.00 or 0.4% at $4,185.40 an ounce, while Silver futures are down $0.473 or 0.77% at $61.245 an ounce.
Eurozone Economic Sentiment Weakens
Major European Markets Move Higher As Oil Pares Early Gains
UK Mortgage Approvals Fall To 32-Month Low
Mixed Sentiment In Asian Markets
Sensex, Nifty Come Off Early Lows, But Close Weak For 2nd Straight Session
FTSE 100 Modestly Higher As Miners, Pharma Stocks Move Up
U.S. Dollar Rises Amid Fed Rate Hike Speculation
