A look at Tuesday morning’s market action
Dow, S&P and Nasdaq futures were all hovering just below the flat line in the early premarket period. All three finished up on Monday, with the Dow marking its sixth consecutive day of gains. Canada’sKey for Canadian investors will be Statistics Canada’s report on June inflation, due ahead of the opening bell. The numbers come a week after the Bank of Canada again hiked interest rates amid continued concerns that easing price pressures could stall in the months ahead.
She noted that marks a dramatic slowdown from a peak rate of 8 per cent a year ago. Much of that slowing, she said, came from lower energy prices. In Asia, Japan’s Nikkei advanced 0.32 per cent. Hong Kong’s Hang Seng dropped 2.05 per cent amid weakness in tech and real estate stocks.Crude prices saw modest early gains following the previous session’s declines as traders await readings on U.S. inventories.
Later Tuesday, traders will get the first of two weekly readings on U.S. crude inventories with the release of fresh numbers from the American Petroleum Insitute.Analysts are expecting to see a decline in crude stockpiles for the week.Spot gold gained 0.2 per cent to US$1,959.35 per ounce by early Tuesday morning. U.S. gold futures were up 0.3 per cent to US$1,963.10.The Canadian dollar was down slightly in early trading while its U.S.
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