Canadian Market Recovers After Early Setback
(RTTNews) - After recovering from an early setback Monday morning that saw the benchmark S&P/TSX drop by more than 130 points, Canadian stocks recovered lost ground and are turning in a mixed performance with investors digesting the nation's inflation data, and looking ahead to fresh economic reports from the U.S. for directional clues.
The benchmark S&P/TSX Composite Index was down 6.07 points or 0.02% at 30,320.39 about a quarter past noon. The index had slipped to 30,192.91 earlier in the session.
Data from Statistics Canada showed Canada's headline inflation rate fell to 2.2% in October from 2.4% in the previous month, edging near the 2% threshold of Bank of Canada's projection. The CPI increased 0.2% in October over the previous month.
Core inflation in Canada inched up to 2.9% in October, the steepest since August 2023. In September, core inflation rate came in at 2.8%. On a monthly basis, core consumer prices rose 0.6% in October after a 0.2% increase in September.
Stantec is down more than 5%. Canadian Energy Services is down nearly 4%. Canada Goose Holdings, CCL Industries, B2Gold Corp., Cineplex, Canfor, Nutrien, Baytex Energy, AtkinsRealis, Lightspeed Commerce and Thomson Reuters are down 2 to 3%.
Dorel Industries is surging more than 7%. Superior Plus is gaining about 5.1%. Sienna Senior Living, Cargojet, SSRMining, Fairfax Financial, Barrick Gold, Extendicare, Northland Power, Maple Leaf Foods and Celestica are up 1.8 to 3%.
U.S. Dollar Inches Higher Amid Increasing Fed Rate Hike Bets As Crude Oil Prices Surge
Canadian Market Headed For Weak Close
Swiss Market Ends Moderately Lower
European Stocks Close Weak
New York Manufacturing Index Pulls Back Sharply But Remains Positive
New York Manufacturing Index Slumps Much More Than Expected In September
Bay Street Likely To Open On Slightly Weak Note
