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Canadian Stocks In Snooze Mode -- Canadian Commentary

Canadian stocks were set for a weak open Tuesday, having eased from record highs over the past few sessions.

The rally in the energy sector has stalled amid concerns that U.S. production will outpace demand.

U.S. total shale output is estimated to rise by more than 80,000 barrels per day (bpd) to 6.17 million bpd, the U.S. Energy Information Administration said yesterday.

And today, global watchdog International Energy Agency said that warmer weather around the world will hurt demand in the next few months.

The TSX Composite Index starts the day just above 16,000, as traders weigh a smattering of corporate headlines.

Bombardier Commercial Aircraft (BBD_B.TO, BBD_A.TO) has signed a letter of intent with Cairo-based EgyptAir Holding Company for up to 24 CS300 aircraft. This includes firm orders for twelve CS300 aircraft with purchase rights for an additional 12 aircraft. The deal could be worth $2.2 billion.

Premium Brands Holdings(PBH.TO) said revenues rose sharply in the third quarter.

Marijuana company Canopy Growth (WEED.TO) reported a quarter loss despite rising sales.

Cenovus Energy (CVE.TO) has reached a deal to sell its Weyburn oil facility for $940 million to Whitecap Resources (WCP.TO).

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