By Ketki Saxena
Investing.com -- Canada's main stock index tracked Wall Street lower today as Treasury yields continued to hold near their highest levels since 2007, and as the threat of a government shutdown and weak US economic data, including consumer confidence and new home sales, weighed on risk sentiment.
The commodity-heavy TX was also pressured by metal prices on concerns over China's property sector as Evegrande shares continued to tumble.
Crude prices meanwhile traded on a moderately positive note as worries of tight supply outweighed concerns of a slowing global economy.
Canadian Stock Market News
Activist investor Engine Capital, which has previously pushed for changes at Parkland Corp (TSX:PKI). now recommends the company allocate a total of around $800 million for share buybacks in 2024 and 2025, in order to take advantage of the stock's undervaluation.
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In Canadian Economics
The Canada Energy Regulator announced that it has approved Trans Mountain Corp.'s application to modify the pipeline's route.
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