Equities in Canada’s largest centre were mostly unchanged on Tuesday as investors awaited the U.S. Federal Reserve’s policy meeting for its outlook on interest rate and economic growth amid the trade war.
The TSX Composite Index faded 53.64 points soon after Tuesday’s opening bell to 24,731.47.
The Canadian dollar edged up 0.01 cents to 69.95 cents U.S.
On the economic slate, Statistics Canada’s Consumer Price Index (CPI) rose 2.6% on a year-over-year basis in February, up from a 1.9% increase in January. On a seasonally adjusted monthly basis, the CPI rose 0.7% in February.
ON BAYSTREET
The TSX Venture Exchange poked higher 1.33 points to 632.02.
All 12 TSX subgroups were still buoyant by the close Monday, with gold and materials each climbing 1.6%, while energy gushed 1.4%.
ON WALLSTREET
Stocks edged lower Tuesday as a selloff that has engulfed Wall Street in recent weeks resumed after two straight winning sessions.
The Dow Jones Industrials sank 171.25 points to 41,670.38,
The S&P 500 docked 54.09 points, or 1%, to 5,621.02
The NASDAQ plummeted 299.76 points, or 1.7%, to 17,508.90.
Tesla, one of the stocks hardest hit during the market’s recent correction, was down yet again on Tuesday. The stock fell 5% after RBC Capital Markets lowered its price target on the electric vehicle name, citing rising competition in the EV space. It’s declined 36% over the past month.
Those moves follow a second-straight winning session on Wall Street. That marks a turn after several tough weeks on Wall Street as some soft economic data and President Donald Trump’s on-again-off-again tariff policy left investors wary of the U.S.’ financial health.
Prices for the 10-year Treasury eked lower Tuesday, lowering yields to 4.31% from Monday’s 4.30%. Treasury prices and yields move in opposite directions.
Oil prices added 12 cents to $67.70 U.S. a barrel.
Prices for gold hiked $29.10 an ounce to $3,035.20 U.S.
