A look at Tuesday morning’s market action
World stocks were little changed as investors turned cautious ahead of a slew of economic data that may determine how deeply the U.S. Federal Reserve will cut interest rates. TSX futures were in negative territory as investors looked to tomorrow’s policy announcement by the Bank of Canada, which“The absence of the American markets revived the worries that we might see a rebound in U.S.
In Asia, Japan’s Nikkei closed 0.04 per cent lower, while Hong Kong’s Hang Seng slipped 0.23 per cent.Brent oil prices declined as sluggish economic growth in China, the world’s biggest crude importer, increased demand concerns while a halt to Libyan production and exports provided a floor. Futures fell 1.2 per cent to US$76.62 a barrel.
“The weaker than expected Chinese manufacturing PMI over the weekend likely exacerbated concerns about the Chinese economy’s performance,” said Charalampos Pissouros, senior investment analyst at brokerage XM.
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