The Canadian market is notably higher Wednesday afternoon, supported by strong gains in the energy sector after crude oil prices rose sharply after data showed a larger-than-expected drop in U.S. crude inventories last week.
Canadian shares may open higher Wednesday morning, tracking firm crude oil prices. Data on Canadian inflation is also likely to set the trend for the market early on in the session.
Save for a very brief while at the start, the Canadian stock market stayed weak on Tuesday and eventually ended the session notably lower.
The Canadian market is languishing in negative territory Tuesday afternoon, led by losses in energy and healthcare sections, in cautious trade.
Canadian shares are likely to open with a somewhat negative bias Tuesday morning, tracking weakness in European markets and lower bullion prices.
After trending lower over the past few sessions, Canadian stocks showed a modest move back to the upside during trading on Monday.
After a positive start and a subsequent fall from higher levels that very nearly dragged it down into negative territory, the Canadian market recovered Monday morning, thanks to strong gains in the energy sector.
Canadian shares may open higher Monday morning, tracking positive cues from Europe, where stocks are moving up as optimism about growth outweigh concerns about the spread of coronavirus cases.