By Ketki Saxena
Investing.com -- The TSX tracked Wall Street lower this morning following a debt ceiling meeting between President Joe Biden and House Speaker Kevin McCarthy that yielded no resolution.
The commodity heavy Canadian index gained some support from crude prices following comments from the Saudi energy minister warning short-sellers to "watch out" and leading to speculations of further OPEC+ output cuts.
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Bausch Health (TSX:BHC) Companies shares rose after Jefferies brokerage increased its price target to $9.5 from $7.
Africa Oil Corp (TSX:AOI) announced their announcement to withdraw from a Kenya-based project which led Barclays (LON:BARC) to adopt a bullish stance on the stock.
MEG Energy (TSX:MEG) received an upgrade from Scotiabank (TSX:BNS), boosting the stock
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In Canadian Economics
Statistics Canada reported that April's industrial product price index dropped by 0.2%, marking it at 3.5% lower than April of last year. The Raw Materials Price Index for April rose by 2.9% monthly but fell by10 .8 % year-over-year.