By Ketki Saxena
Investing.com -- Canada's main stock index, the S&P/TSX Composite index climbed to a two-week high, tracking Wall Street higher ahead of key economic data this week, including the nonfarm payrolls report for August due Friday. Markets also remain optimistic following US Federal Reserve Chair Jerome Powell's speech at Jackson Hole last week, with markets pricing in an 80% chance that the Fed will hold its interest rate at a range of 5.25% to 5.50% at its next meeting in September.
The TSX also gained support from commodity prices, with oil prices climbing as China announced its decision to slash stamp duty charges associated with stock trading by half., a move designed to aimed to rejuvenate the capital markets and bolster investor confidence. The materials sector meanwhile tracked metal prices higher.
Canadian Stock Market News
All eyes this week will be on Canadian banks, with Bank of Montreal (TSX:BMO), Bank of Nova Scotia (TSX:BNS), and National Bank of Canada (TSX:NA) reporting quarterly earnings.
View all released and upcoming earnings reports on our earnings calendar.
Canadian Stocks Moving Markets Today
Top Gainers on the TSX Today:
Top Losers on the TSX Today:
In Canadian Economics
Unifor - representing about 18,000 Canadian autoworkers working at General Motors Company (NYSE:GM), Ford Motor Company (NYSE:F), and Stellantis recently disclosed that between 98% to 99% of members voted favorably towards strike action, taking a cute from their U.S counterparts to take strike action if union negotiators fail to secure new collective agreements before existing ones expire.
View all economic data releases on our economic calendar.
All currencies CAD unless noted otherwise.