By Ketki Saxena
Investing.com -- The commodity-heavy TSX rallied by afternoon trading, supported by rising crude oil prices, despite the resolution of a failed coup attempt involving Russian mercenaries over the weekend led investors to believe that no immediate danger is perceived regarding global oil supplies from Russia.
US stocks meanwhile traded mixed ahead of core personal consumption expenditures price index, a significant inflation report scheduled for later this week, the outcome of which could potentially influence next month's policy meeting at the Federal Reserve.
The Biggest Stories on Bay Street
Enbridge (TSX:ENB) Inc is seeking assurance from a U.S. judge that its contentious cross-border pipeline will not be closed down prior to being rerouted around an Indigenous band's territory in Wisconsin. Enbridge is essentially asking that Line 5 is allowed to stay operational until rerouting is completed.
Hut 8 Mining (TSX:HUT) announced that it has secured a $50 million credit facility with a subsidiary of Coinbase Global Inc. The credit facility is set to mature 364 days after the date of the initial borrowing and obligations under this agreement are backed by Hut 8's interest in specific Bitcoins held in custody by Coinbase (NASDAQ:COIN) Custody Trust Company, LLC
Northwest Healthcare Properties REIT (TSX:NWH_u)Properties Real Estate Investment Trust shares declined after BMO (TSX:BMO) lowered its rating for the stock from "outperform" to "market perform".
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A preliminary estimate by Statistics Canada revealed that factory sales within the country likely increased by 0.8% in May compared to April figures; meanwhile, wholesale trade is expected to have risen by 3.5%.