Canadian stock market's benchmark S&P/TSX Composite Index drifted lower on Monday, weighed down by losses in materials and consumer discretionary sectors. Thanks to higher oil prices, energy stocks gained significant ground, limiting market's downside.
The mood in the market remained cautious amid uncertainty about U.S. and Iran holding another round of discussions to end the conflict in the Middle East. Also, investors looked ahead to the monetary policy announcement from central banks, including the Federal Reserve, Bank of Canada, European Central Bank, Bank of England and the Bank of Japan.
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Market Analysis
May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.