Canada’s stock market is moving cautiously. Investors are watching global tensions closely. The main trigger right now is the possible US Iran peace talks.
The S&P TSX composite index is up just 0.2 percent. It remains mostly flat during the session. The S&P TSX 60 index is also unchanged.
On Tuesday, the TSX closed at 34,102.36. It gained 0.7 percent. This was its highest level since March 2. Gains in financial stocks helped offset weakness in energy shares.
TSX index steady as financial stocks gain and energy sector weakens
Financial stocks are supporting the market. Strong US bank earnings are boosting sentiment. Investors are seeing stability in the banking sector.
Energy stocks are under pressure. Oil prices are still below the 100 USD mark. This is limiting gains in the broader index.
The mixed sector performance is keeping the TSX range bound. Investors are waiting for clearer signals before taking big positions.
US stocks mixed as Nasdaq jumps 1 percent and Dow falls 0.5 percent
US markets are showing mixed trends. The Dow Jones is down by 236 points. This is a fall of 0.5 percent.
The S&P 500 is up by 0.4 percent. The Nasdaq is leading with a 1 percent gain. Tech stocks continue to show strength.
The Nasdaq has gained 14 percent over the last 10 sessions. This is its longest winning streak since 2021. The S&P 500 is also near record highs.
Strong earnings from US banks are supporting the market. Data shows consumers are still spending. This is helping the economy stay stable despite global tensions.
Oil below 100 USD and gold down 1 percent as Iran ceasefire hopes grow
Oil prices remain below the key 100 USD level. This is happening even as supply concerns remain. The Strait of Hormuz is still a major risk point.
US President Donald Trump has said the Iran conflict may end soon. Talks for a ceasefire are expected to resume within 2 days. A temporary ceasefire is already in place till April 21.
Gold prices are falling slightly. Spot gold is down 1 percent at 4,795.63 USD. Gold futures are also down 0.7 percent.
Despite this, gold is still up around 1.6 percent over the past week. Earlier, rising oil prices had pushed inflation fears higher. This reduced gold’s appeal.
The US dollar is slightly stronger. This is also putting pressure on gold prices.