By Ketki Saxena
Investing.com -- Canada's main stock index, the S&P/TSX Composite index tracked the Dow and S&P500 lower in afternoon trading, ahead of Fed Chair Jerome Powell's discourse - anticipated to be hawkish - at the Jackson Hole in Wyoming on Friday.
The TSX was most pressured by Financials today, ahead of earnings this week from Canada's major banks, expected to reflect decelerated deal-making activities and greater provisions for credit losses.
Toronto stocks were also pressured by crude prices, as worries about a Chinese slowdown continued to weigh.
Miners meanwhile added some support to the commodity-heavy Canadian index, as Gold prices experienced an uptick above $1,900 per ounce.
Canadian Stock Market News
E-commerce giant Shopify (TSX:SHOP) saw its shares rise after Wedbush initiated coverage on it with a 'buy' recommendation.
Bank of Montreal (TSX:BMO) shares experienced downward pressure after CIBC (TSX:CM) revised its target price downwards from $134.00 to $120.00.
Insurance firm Trisura (TSX:TSU) Group rose after TD (TSX:TD) Securities restarted covering it with an encouraging 'buy' rating.
Westport Fuel Systems (TSX:WPRT) announced that CEO David Johnson would be leaving his position effective immediately while also stepping down from board duties. Tony Guglielmin, who serves as chairperson of Westport’s audit committee will fill in temporarily as interim CEO.
Toronto Stocks Moving Markets Today
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