(RTTNews) - It's likely to be a mixed start for stocks on Bay Street on Tuesday with investors reacting to the nation's inflation data and weighing the developments on the geopolitical front.
Data from Statistics Canada showed consumer price inflation rate increased to 2.8% in April from 2.4% in March. Annual core inflation rate eased to 2.1% in April, the softest since January 2025, from 2.5% in the prior month.
A separate data from Statistics Canada showed house price index in Canada decreased to -0.4% in April from -0.2% in March.
Building Permits MoM in Canada increased to 10.30 percent in March from -7.80 percent in February of 2026.
Canadian stocks tumbled on Friday as the U.S.-China summit concluded with no announcement on a possible Chinese mediation to end the U.S.-Iran war. The lack of progress in peace efforts leaves the Hormuz crisis unresolved.
The benchmark S&P/TSX Composite Index traded firmly negative throughout the session before settling at 33,833.35, down by 434.92 points or 1.27%.
The market remained closed on Monday for Memorial Day.
Asian markets turned in a mixed performance on Tuesday as technology heavyweights tracked overnight declines in their U.S. peers.
Oil prices eased but remained at elevated levels after Tehran reportedly sent a new peace proposal via Pakistan and U.S. President Donald Trump said he has postponed a planned attack on Iran at the request of Qatar, Saudi Arabia and the United Arab Emirates.
The major European markets are up in positive territory amid some hopes of a potential U.S.-Iran peace deal.
In commodities trading, West Texas Intermediate Crude oil futures are down $0.37 or 0.34% at $108.29 a barrel.
Gold futures are down $12.90 or 0.28% at $4,545.10 an ounce, while Silver futures are down $0.919 or 1.2% at $76.525 an ounce.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
