TSX to Slide to Open Week
The TSX remained positive 53.97 points to finish off Friday at 20,351.06, a loss on the week of 68.5 points, or 0.34%.
June futures on the S&P/TSX index slid 0.07% Tuesday morning.
The Canadian dollar fell 0.15 cents to 73.90 cents U.S.
Scotiabank raised its rating on Meg Energy to sector outperform from sector perform.
Canadian markets were shuttered Monday for Victoria Day.
In the economic docket, Statistics Canada says the industrial product price index for April fell 0.2%, and was 3.5% lower than April 2022. The Raw Materials Price Index rose 2.9% monthly basis in April and fell 10.8% year over year.
ON BAYSTREET
The TSX Venture Exchange regained 3.76 points Friday to 612.79, resulting in a loss of five points on the week, or 0.8%.
ON WALLSTREET
Stock futures slipped Tuesday after a key debt ceiling meeting between President Joe Biden and House Speaker Kevin McCarthy.
Futures for the Dow Jones Industrials fell 30 points, or 0.1%, at 33,331.
Futures for the S&P 500 pointed lower 2.5 points, or 0.1% to 4,202.50.
Futures for the NASDAQ Composite ducked 8.75 points, or 0.1%, to 13,893.75.
McCarthy and Biden met at the White House Monday evening, in a discussion that the House speaker described as “productive” and “professional.” These latest talks – taking place with just 10 days until June 1, the earliest date that the U.S. could default – seemed to have a more positive tone following the hourlong discussion.
Investors have been closely eyeing debt-limit negotiations in Washington, hoping for more certainty as the so-called X-date of June 1 draws closer.
On the economic front, investors will follow data on the manufacturing and services sectors as well as new home sales.
In Japan, the Nikkei 225 docked 0.4%, while in Hong Kong, the Hang Seng fell 1.3%.
Oil prices gained 59 cents to $72.64 U.S. a barrel.
Gold prices dumped $16.90 to $1,959.80 U.S. an ounce.
Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.
