Canadian stocks traded on a mixed note for the third consecutive session on Tuesday as investors looked forward to the outcome of the U.S. Federal Reserve’s ongoing monetary policy meeting. The S&P/TSX Composite Index posted minor gains of 23 points, or 0.1%, yesterday to settle at 21,861.
Despite handsome gains in healthcare, consumer cyclical, and technology stocks after the release of notably softer-than-expected domestic consumer inflation numbers, weak metals prices drove the shares of mining companies lower — limiting the commodity-heavy TSX benchmark’s upward movement.
Consumer inflation is easing in Canada
According to Statistics Canada’s latest report, Canada’s Consumer Price Index saw a slight decrease in its year-over-year growth rate last month to 2.8% from January’s 2.9%. Even as gasoline prices climbed up last month, factors like lower prices for cellular services, store-bought food, and internet services…
