By Ketki Saxena
Investing.com -- Canada's main stock index, the S&P/TSX composite index traded on a moderately positive note today, tracking the S&P 500 and the Nasdaq higher, boosted by megacaps.
Risk sentiment however remained uncertain as investors digest the US Federal Reserve's higher-for-longer rate narrative following the US Central Bank's hawkish hold last week, and await remarks from Fed policymakers in the week ahead.
The commodity-heavy Canadian index was also pressured by crude prices, as Russia relaxed its fuel ban and Fed fears weighed.
Canada Stock Market News
Shares of cannabis companies such as Canopy Growth (TSX:WEED) and Tilray (TSX:TLRY) were sharply higher ahead of a key vote on marijuana banking reform on Wednesday when the Senate Committee on Banking, Housing and Urban Affairs will conduct a session on the Secure and Fair Enforcement Regulation (SAFER) Banking Act.
Air Canada (TSX:AC) announced that it has ordered 18 Boeing (NYSE:BA) 787-10 Dreamliner aircraft in order to replace aging and less efficient aircraft in its fleet.
Canfor (TSX:CFP) Corp. announced that a Swedish company in which it owns a 70% stake has signed a deal to buy a sawmill from Sweden's Ingarp Träskydd for $6 million. The mill has 50 million board feet in annual capacity.
For earnings, view our earnings calendar.
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In Canadian Economics
After signing a labour agreement with Ford, Canadian union Unifor will begin talks on Tuesday with General Motors (NYSE:GM) to stave off a strike by Canadian autoworkers. 54% of workers at Ford voted in favour of a new three-year collective agreement over the weekend.
For all Canadian economic releases, view our economic calendar.
All currencies CAD, unless stated otherwise.