By Ketki Saxena
Investing.com -- The TSX tracked Wall Street lower on hawkish minutes from the U.S Federal Reserve June meeting, and robust US ADP non-farm payrolls.
Rate-sensitive technology and real estate were amongst the biggest losers on the TSX today. The commodity-heavy Canadian index was also pressured by a decline in copper and crude prices, on weak global economic growth prospects coupled with lukewarm demand from China.
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Aritzia (TSX:ATZ) shares fell after BofA Global Research downgraded its rating from "neutral" to "underperform".
Magna International (TSX:MG) shares rose following an upgrade by BofA who changed their recommendation from "neutral" to "buy".
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Statistics Canada reported that merchandise imports rose by about 3%, whereas exports took a hit with a decrease of around 3.8%, weighed by exports of energy and grain. As a result, Canada’s merchandise trade balance saw a deficit worth $3.4 billion, compared to a $894 million surplus in May.