TSX to Continue Losing Streak As Copper, Oil Drag
Canada's benchmark index looks set for another day of losses, tracking world markets, as oil and copper prices drop on a firm dollar and on concerns over global economic growth. Stock futures for the December quarter on the S&P TSX index were off 0.04% recently.
Copper was last down 0.50% at US$2.284/pound, while Brent crude slipped 0.17% to US$47.67/barrel after poor jobless claims data from the U.S. and manufacturing activity report from China raised concerns over the health of the world economy.
As well, investors are on the lookout for U.S. Federal Reserve Chair Jane Yellen's speech on inflation later in the day, hoping to get guidance on when the bank would tighten its monetary policy.
The TSX settled lower on Wednesday, shedding 107 points, with the energy and industrial sectors as the biggest drag.
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