The S&P/TSX Composite index closed at the 21,942 level on Monday, recording slight losses as investors treaded cautiously ahead of key data releases in Canada and the US. Eyes were on Canada’s GDP data for insights into potential rate cut timing and pace by the BoC, while similar anticipation surrounded US PCE figures and GDP numbers.
Healthcare equities led the decline with average losses of 2.69%, followed by a 0.71% decline in the tech sector.
Conversely, energy stocks mitigated the index’s decline with an average increase of over 1.97%, buoyed by Russia’s retaliatory actions against Ukraine targeting its energy infrastructure, resulting in higher oil prices.
