By Ketki Saxena
Investing.com -- Canada’s main stock index the S&P/TSX composite index was set for its worst day in a month after hotter-than-expected CPI data raised worries that the Bank of Canada may need to raise interest rates further to quell inflation.
Markets are now pricing in 42% chances of a rate hike in October.
Wall Street indices meanwhile also slipped as investors await a decision from the US Federal Reserve this week.
For earnings, view our earnings calendar.
Canadian Stock Market News
Shares of Equinox Gold Corp (TSX:EQX). slid after the company announced a deal to raise US$150 million in an offering of convertible debt. Equinox announced that it has finalized a deal to issue US$150 million in 4.75% unsecured convertible senior notes due 2028.
Toronto Stocks Moving Markets Today
Top Gainers on the TSX Today:
Top Losers on the TSX Today:
In Canadian Economics
Canada’s annual inflation rate in August came in hotter than expected. Headline inflation jumped to 4.0%, compared to analyst expectations for a 3.8% reading, and compared to a 3.3% reading in July. Two of the three core inflation metrics, the Canadian central bank's preferred measure of inflation, also rose.
For all Canadian economic releases, view our economic calendar.
All currencies CAD, unless stated otherwise.