TSX Eyes Mixed Session On Geopolitical Uncertainty, Commodity Moves
(RTTNews) - Canadian stocks are likely to open on mixed note on Tuesday with investors assessing geopolitical developments and tracking commodity markets.
U.S. President Donald Trump's speech at the U.N. General Assembly could throw some light on what lies ahead with regard to the Middle East conflict. Investors also await a potential meeting between Trump and Iranian President Masoud Pezeshkian in New York.
With oil prices continuing to fall, energy stocks may struggle for support. Weak materials stocks could hurt several stocks in the materials sector. Tech stocks may see some profit taking.
The Canadian market closed notably higher on Monday, led by gains in technology, financials and real estate sectors.
The benchmark S&P/TSX Composite Index settled at 36,009.40, near the day's high, gaining 202.75 points or 0.57%.
Asian stocks closed higher on Tuesday, tracking Wall Street's overnight gains. Falling oil prices and softening U.S. Treasury yields aided sentiment.
European stocks are turning in a mixed performance today with investors focusing on geopolitical news. Trump's speech at the U.N. General Assembly later today is eyed. The focus is also on a potential meeting between Trump and Iranian President Masoud Pezeshkian in New York.
In commodities trading, West Texas Intermediate Crude oil futures are down $2.61 or 2.7% at 93.17 a barrel.
Gold futures are down $13.40 or 0.68% at $4,370.50 an ounce, while Silver futures are down $0.050 or 0.07% at 66.365 an ounce.
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