TSX To Open Lower Amid Concerns Over U.S. Tech Stocks
The benchmark Canadian index is likely to open lower on Monday, tracking stock futures and global markets, on concerns over U.S. technology shares.
Meanwhile, BMO notes in its Monday morning note that the TSX rallied 0.9% last week, but was a "middling" performer globally, lagging solid gains in the Nikkei (+2.5%) and CAC (+1.7%), while outperforming all three major U.S. indices. It says that puts the TSX up a solid 6.2% year-to-date, among the top performing major markets. Most TSX sectors were in the black, with energy (+2.4%), consumer discretionary (+1.7%) and industrials (+1.7%) leading the way, BMO says. Health care (-3.2%) and telcos (-1.3%) were the laggards, it adds.
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