Canada CPI leaves TSX little changed above 36,000
S&P/TSX Composite trades little changed above 36,000 after Canada CPI rose 3.0% (vs 2.9% forecast), while core measures also edged higher.
The S&P/TSX Composite Index traded little changed above 36,000 on Monday following the release of CPI data, after reaching a record high on Friday. 9%. Core inflation measures tracked by the Bank of Canada also edged higher, largely reinforcing expectations that the central bank will keep interest rates unchanged this year. Major banks edged higher ahead of their earnings reports next week.
On the geopolitical front, tensions in the Middle East persisted, with little sign of a near-term resolution. Oil prices edged higher, supporting energy stocks, with Canadian Natural adding over 1%. Retail stocks posted losses, with ATD, Loblaw and Dollarama losing about 1%. 5%.