By Ketki Saxena
Investing.com – Canada’s main stock index, the S&P/TSX Composite, traded on a negative note as risk sentiment remained uncertain ahead of earnings from Canadian banks, and key US economic data.
The commodity heavy Canadian index was also pressured by weak crude prices ahead of an OPEC+ meet, weighing on the heavyweight energy sector.
Wall Street meanwhile traded on a mixed note as investors await the U.S. Federal Reserve’s preferred inflation gauge, PCE data for October.
Markets will also be keenly watching a host of Fed officials due to speak this week, including Fed Chair Jerome Powell.
Toronto Stock Market News
Shares of Shopify (TSX:SHOP) rose after the company reported strong Black Friday sales data with sales merchants totaling $4.1 billion and up 22% from the year prior.
Lion Electric (TSX:LEV) Co. announced it will cut 10% of its total workforce, or 150 jobs as it seeks to reduce cost and improve profitability.
Baytex Energy Corp (TSX:BTE). announced it has signed a deal to sell some assets in Southwest Saskatchewan.. Baytex will sell some of its Viking assets for $153.8 million, with net proceeds used to reduce its bank debt.
For earnings, view our earnings calendar.
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In Canadian Economics
No major Canadian economic data
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All currencies Canadian Dollar unless noted otherwise.