TSX Today: What to Watch for in Stocks on Monday, October 27
With oil and copper trending higher but gold easing, the TSX could trade sideways at the open today as investors look to earnings and U.S.-China trade talks.
Firm commodity prices and weaker-than-expected U.S. consumer inflation print drove Canadian stocks higher for the third consecutive session on Friday. The S&P/TSX Composite Index climbed by 167 points, or 0.6%, to settle at 30,353 — extending its weekly gains to 0.8%.
Despite weakness in healthcare and consumer staple sectors, solid gains in technology, financials, and energy stocks helped propel the index higher. The Consumer Price Index (CPI) in the U.S. rose 0.3% in September, slightly below the 0.4% gain recorded in August.
The moderation in price growth strengthened hopes that inflationary pressures are gradually cooling, fueling optimism that the U.S. Federal Reserve could consider more rate cuts in upcoming meetings.
Author's summary: TSX trade sideways due to commodity prices.
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