S&P/TSX composite closes lower despite boost to energy and mining stocks

Energy and mining stocks got a boost from rising commodity prices Monday but Canada's main stock index closed down overall to kick off a short trading week.Trading volumes were light coming off of last week’s rally, which saw the S&P/TSX composite nudge to a new all-time closing high on Thursday before taking a breather on Friday.

“Oil is strong and getting stronger, and gold of course has been making big moves, even briefly hittingUS$2,000 an ounce last week," said Brian Madden, chief investment officer with First Avenue Investment Counsel Inc. Last week saw a big run on Wall Street, with all three main U.S. stock indexes setting records on Thursday. Markets were buoyant in the wake of last Wednesday's interest rate decision by the U.S. Federal Reserve, which indicated it still could cut rates three times this year.

"And the thing that could throw cold water on the rally would be if the Fed and the Bank of Canada do indeed stay 'higher for longer,' to borrow the popular phrase."

Portugal Últimas Notícias, Portugal Manchetes

Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.

Energy stocks help S&P/TSX composite creep higher, U.S. stock markets mixedTORONTO — Strength in energy stocks helped Canada's main stock index creep higher in late-morning trading, while U.S. stock markets were mixed. The S&P/TSX...
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »

Energy stocks help lift S&P/TSX composite higher, U.S. stock markets downTORONTO — Strength in the energy stocks helped lift Canada's main stock index higher in late-morning trading, while U.S. stock markets moved lower. The S&P...
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »

Energy transition stocks get lots of love from investors, TSX Venture list showsCALGARY — Canadian-based mining companies that are betting on the global energy transition saw a surge of investor interest in 2023, according to the latest ...
Fonte: YahooFinanceCA - 🏆 47. / 63 Consulte Mais informação »