By Ketki Saxena
Investing.com -- At the opening bell in Toronto, the S&P/TSX Composite Index was at 18,752.10 points, down 0.34% shortly after the opening bell, as investors await the Bank of Canada’s decision tomorrow, and as crude prices continued to slide.
Another slide in crude prices also weighed on the commodity-heavy Canadian index, as worries of slowing demand rose to the forefront following reports that Chinese cities are adopting new COVID-19 restrictions to prevent the spread of the highly infectious BA.5.2.1 subvariant.
The Canadian index was also pressured by broad-based losses in metals, related to worries of lower industrial demand from China, the world’s second-largest economy.
U.S. indices, meanwhile rebounded slightly as investors adjusted rate-hike bets ahead of tomorrow’s inflation data. However, markets remain bearish driven by the likelihood of an aggressive move from the Federal Reserve later this month, and as worries of a recession continue to dominate investor sentiment.
Yields meanwhile retreated, the VIX was slightly higher, and the dollar continued to strengthen, on the cusp of reaching parity with the Euro.
Here’s a snapshot of markets at the open:
Indices:
- S&P/TSX 60: -0.40%
- S&P/TSX Venture: -0.42%
- S&P 500: +0.19%
- Dow Jones: +0.25%
- Nasdaq: +0.31%
Commodities:
- Crude: -5.72% at 98.14
- Brent: -5.42% at 101.30
- Natural Gas: +1.315 at 6.510
- Gold: -0.35% at 1725.7
- Silver: -1.46% at 18.852
- Copper: -3.15% at 3.3225
Bonds and Currrrencies:
- Canada 5 year: -0.064 points at 3.106%
- Canada 10 year: -0.069 points at 3.175%
- U.S. 10 year: - 0.087 points at 2.904%
- USD Index: +0.04% at 108.06
- USD/CAD: +0.20% at 1.3031
Cryptocurrency: