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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.
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.
For earnings, view our earnings calendar.
The Canada Energy Regulator announced that it has approved Trans Mountain Corp.'s application to modify the pipeline's route.
For all Canadian economic releases, view our economic calendar.
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