By Ketki Saxena
Investing.com -- At the opening bell in Toronto, the S&P/TSX Composite Index was at 19,802.77 points, up 0.3% in the day’s trading, as inflation worries faced a relative reprieve this morning due to a slight easing in the U.S. Producer Price Index.
U.S. bond yields retreated, the dollar eased, and the VIX fell as equities rebounded from yesterday’s tumble, which saw the TSX close the day in correction territory, and the S&P500 in a bear market.
Despite today’s breather on PPI, investor sentiment will be dominated this week by the Federal Open Market Committee meeting, which kicks off today. A 50 or even 75 basis point hike is expected from the U.S. central bank tomorrow.
The commodity heavy Canadian index was also supported by gains in crude, with concerns of tight supply aggravated by a drop in output and exports from Libya, as it grapples with a political crisis. Other OPEC+ producers are struggling to meet their production quotas, leaving the market unable to make up the shortfall from the Russian Embargo.
Here’s a snapshot of the market at the open.
Indices:
- S&P/TSX 60: +0.20%
- S&P/TSX Venture Composite: -0.27%
- S&P 500: +0.16%
- Dow Jones: +0.18%
- Nasdaq: +0.13%
- VIX (Wall Street’s fear guage): -0.35%
Commodities:
- Crude: +1.39% at $122.61
- Brent: +1.50% at $124.11
- Natural Gas: -13.65% at $7.434
- Gold: -0.58% at $1821.20
- Silver: -0.39% at $21.172
- Copper: -0.40% at $4.1945
Cryptocurrency:
Bonds and Currencies:
- Canada 5 year: +0.008 points at 3.516%
- Canada 10 year: +0.001 points at 3.515%
- United States 10-Year: -0.017 points at 3.354%
- US Dollar Index Futures: flat at 105.08
- USD/CAD: +0.31% at 1.2936