(Reuters) - Futures tracking Canada's main stock index inched lower on Monday, hurt by a decline in metals prices as the U.S. dollar strengthened on ...
- Futures tracking Canada's main stock index inched lower on Monday, hurt by a decline in metals prices as the U.S. dollar strengthened on growing bets of interest rates staying higher for longer.Material stocks are expected to take a hit after a fall in copper and gold prices as the dollar stood strong after U.S. Federal Reserve officials flagged that interest rates would remain elevated for longer.
The Toronto Stock Exchange's S&P/TSX composite index ended down 11.65 points, or 0.1%, at 19,779.97, on Friday, its lowest closing level since Aug. 24. For the week, it lost 4.1%, its biggest weekly decline since September 2022 as investors worried that borrowing costs would remain high for an extended period. [.TO]
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