Despite the release of significantly cooler-than-expected domestic consumer inflation data, Canadian equities remained mixed on Tuesday as sliding crude oil and natural gas prices weighed on energy stocks. The S&P/TSX Composite Index ended the volatile session with a minor decline of 32 points, or 0.1%, at 24,439.
Despite solid intraday gains in the shares of healthcare, utility, and real estate companies, big declines in shares of commodity-linked market sectors dragged the TSX into the red for the day.
The growing possibility of more rate cuts in Canada
According to Statistics Canada’s latest report, the Consumer Price Index (CPI) climbed by 1.6% year-over-year in September 2024, slowing from the 2% increase seen in the previous month. Interestingly, this marked the smallest annual CPI increase since February 2021 due mainly to a sharp decline in gasoline prices. The latest CPI figures raise the possibility that the Bank of…
