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Bay Street May Open Flat Or Slightly Weak

Canadian shares are likely to open flat or slightly lower Monday morning, tracking weak commodity prices.

U.S. Treasury Secretary Janet Yellen's comments that a slightly higher interest rate environment would be a positive for the economy might weigh on the market.

The Canadian stock market ended on a firm note on Friday, with the benchmark S&P/TSX Composite Index closing above the 20,000 mark for the first time. The index, which hit a fresh record high of 20,050.36 in early trades, ended the session with a gain of 87.80 points or 0.44% at 20,029.19.

Asian stocks turned in a mixed performance on Monday with investors weighing comments on interest rates by U.S. Treasury Secretary Janet Yellen, the weaker-than-expected U.S. nonfarm payrolls data, and disappointing Chinese trade data.

European stocks are modestly higher Monday afternoon after opening slightly weak.

In commodities, West Texas Intermediate Crude futures are down $0.10 or 0.14% at $69.52 a barrel.

Gold futures are down $4.10 or 0.22% at $1,887.90 an ounce, while Silver futures are lower by $0.196 or 0.7% at $27.710 an ounce.

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