TSX edges lower as oil, yields stoke inflation concerns
The S&P/TSX Composite Index edged lower below 36,500 as higher oil prices, rising bond yields and July Canadian producer prices up 12.4% year-on-year weighed on financials.
The S&P/TSX Composite Index edged lower to trade below 36,500 on Thursday as rising oil prices fueled inflation concerns. Oil prices climbed after US President Donald Trump announced a sweeping package of economic measures targeting Iran. 5% each. Gold prices fell as investors took profits following a climb to a more than two-month high, although miners remained mostly higher.
5%, while Barrick added nearly 1%. 4% year-on-year in July, highlighting the impact of higher energy costs on wholesale prices and reinforcing the elevated yield environment. On the trade front, the US and Canada were reportedly nearing a deal.