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Bay Street Braces For Commodity Slump -- Canadian Commentary

Canadian stocks are poised for a rough open Tuesday, unable to sustain gains from the previous session.

Commodity prices have fallen sharply as the U.S. dollar strengthened. Rising interest rates and a brewing trade war between the U.S. and China have put a scare into global markets.

Steel makers and Energy stocks may perform badly today.

Oil has also suffered from speculation that OPEC will ramp up production after this week's meeting in Vienna. Russian output is also expected to increase after a prolonged supply quota.

WTI light sweet oil was down $1 to $64.83 a barrel, nearing the lowest since April. Prices have tumbled from a recent 4-year peak near $75.

UrtheCast Corp. (UR.TO) appointed Donald Osborne as CEO.

In the banking sector, RBC's Greg Mills, global head of equities, will depart at end of July. The bank named co-heads to replace Mills. It's part of a broader re-organization.

Bombardier may rise after a Goldman Sachs analyst upgraded the stock to a "buy" on signs of a turnaround.

Marijuana stocks remain in focus as legal pot gets a hearing in Canada's Senate. The House of Commons passed a bill for recreational weed toking yesterday.

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