Unlock Premium Data: Up to 50% Off InvestingProCLAIM SALE

TSX Declines as Debt-Ceiling Talks Reach no Resolution

Published 2023-05-23, 02:17 p/m
© Reuters
GSPTSE
-

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.

The Biggest Stories on Bay Street

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 

Canadian Stocks Moving Markets Today 

Top Gainers: 

  • Africa Oil Corp (TSX:AOI)
  • Ballard (TSX:BLDP)
  • MEG Energy Corp (TSX:MEG)

Top Losers: 

  • Wesdome Gold (TSX:WDO)
  • Ivanhoe Mines (TSX:IVN)
  • MTY Food (TSX:MTY)

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. 

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.