Oversupply fears have pushed the price of crude and energy stocks lower again on Tuesday but the Toronto Stock Exchange managed a slim gain at the close. Meanwhile the 2-day meeting of the Fed’s monetary committee is being keenly watched worldwide as expectation of a summer rise in US interest rates could be on the cards. Globally only Asia had a positive end to the day with regional optimism boosted by stimulus; Europe’s main indexes closed lower ahead of the Fed’s announcement tomorrow.
The S&P/TSX Composite Index closed up 56.08 (0.38 per cent)
The NYSE closed mixed (only Nasdaq closed higher)
Oil is trending lower (Brent $53.50, WTI $43.13 at 4.20pm)
Gold is trending lower
The loonie is valued at U$0.7827 (at 4.20pm)