TSX to Slip with Oil Prices
Canada's benchmark index looks headed for a negative start after oil prices fell as the supply glut remains a concern. Stock futures for the December quarter on the S&P TSX index were down 0.20% recently.
Oil prices were down on Thursday, with Brent crude edging off 0.36% to US$43.98/barrel and the WTI dropping 1.10% to US$40.30/barrel, as data on inventories in the recent weeks failed to show any tightening of supply. Although Goldman Sachs reportedly sees more downside due to climbing storage utilization.
Investors are still digesting the minutes of the U.S. Federal Reserve's meeting released Wednesday. The bank signaled a rate increase in December.
The TSX surged by 229 points at closing on Wednesday, led higher by material, industrial, and healthcare stocks.
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