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TSX May Open Flat Ahead of Yellen Testimony

Canada's benchmark index looked set to open slightly changed on Tuesday, taking cues from U.S. markets, as traders remain cautious ahead of testimony by U.S. Federal Reserve Chair Janet Yellen.

Action Economics ( AE ) said Yellen is giving a testimony before the Senate, following the elevated headline and core PPI readings. AE said the 0.6% January U.S. PPI headline rise with a 0.4% core price gain beat estimates, with a solid 1.0% goods price rise led by a 4.7% energy price surge but a flat food price figure, alongside a firm 0.3% service price rise that was lifted by a 1.1% pop for transportation and warehousing services and a 0.9% January rise for trade services.

The TSX gained 27 points on Monday, led by industrials and financials.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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