TSX Set for Slide with Oil; Fed Meeting Eyed
Canada's benchmark index looks set to open lower on Monday amid falling oil prices . The market is also on the lookout for the U.S. Federal Reserve's two-day policy meeting on December 15 and 16.
Stock futures for the December quarter on the S&P TSX index slipped 0.20% recently.
Prices for Brent and WTI crude fell as investors feared the problem in oversupply could worsen, with the OPEC having no plans of cutting production. Brent was last down 2.95% at US$36.81/barrel, while the WTI crude dropped 1.80% to US$34.98/barrel.
Investors are also anticipating the Fed's meeting tomorrow and on Wednesday, and the bank is expected to raise key rates after nearly a decade.
The TSX closed down near 240 points, with energy and financial stocks as the main decliners.
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