Bay Street May Open On Mixed Note
(RTTNews) - Canadian shares are likely to open on a mixed note Tuesday morning with investors tracking the trend in the commodities market, and awaiting fresh economic data from the U.S. Some profit taking is likely at a few counters in technology and materials sectors after recent strong upmove.
Investors will also be following the progress in Ukraine peace talks.
The Canadian market climbed to a near two-week high on Monday, extending Friday's gains, amid expectations of another U.S. Federal Reserve rate cut in December after dovish comments from a couple of Fed officials.
The benchmark S&P/TSX Composite Index settled with a gain of 443.70 points or 1.47% at 30,604.35, led by gains in technology and materials stocks.
Asian stocks ended broadly higher on Tuesday, with Chinese and Hong Kong markets turning in a fine performance after U.S. President Donald Trump announced an April visit to China at Xi Jinping's invitation following a productive phone call.
European stocks are turning in a mixed performance with a positive bias, as investors look ahead to a fresh batch of U.S. economic data for directional clues.
In commodities, West Texas Intermediate Crude oil futures are down $0.21 or 0.37% at $58.63 a barrel.
Gold futures are gaining $36.70 or 0.89% at $4,130.90 an ounce, while Silver futures are up $0.714 or 1.4% at $51.040 an ounce.
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