TORONTO — Losses in the financial sector dragged Canada's main stock index lower Tuesday, while U.S. markets were mixed. Rising bond yields in Canada and the U.S.
TORONTO — Losses in the financial sector dragged Canada's main stock index lower Tuesday, while U.S. markets were mixed.
Bond yields have been rising on increasing expectations that interest rates will remain higher for longer as recent economic data has proven surprisingly strong, said Marshall. Central banks have to remain vigilant as they seek to bring down the last bit of stubborn inflation, he said. Chipmaking giant Nvidia Corp., which blew expectations out of the water last earnings season and helped fuel the artificial-intelligence rally of 2023’s first half, is set to report after the bell Wednesday.
Earnings season for the Canadian banks is set to kick off Thursday, starting with TD and RBC. There are expectations that banks will need to set aside further provisions for bad loans, said Marshall.
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