Canadian Market Slightly Higher In Cautious Trade

(RTTNews) - Energy, technology and materials stocks are finding some support in the Canadian market, where the mood remains quite cautious Monday morning as investors look ahead to crucial U.S. consumer price inflation data and the Federal Reserve's monetary policy announcement this week.

The Fed is unlikely to make any change in interest rate, but the bank's accompanying statement is in focus for clues about future policy stance.

The benchmark S&P/TSX Composite Index was up 50.65 points or 0.23% at 22,057.65 a little while ago.

On Friday, the Canadian market ended notably lower, hurt by sharp losses in materials and real estate sectors. Fading hopes of a rate cut by the Federal Reserve in September following data showing a stronger than expected growth in U.S. non-farm payroll employment weighed as well.

The benchmark S&P/TSX Composite Index ended down by 222.10 points or 1% at 22,007.00, slightly off the day's low of 22,002.68.

RB Global Inc (RBA.TO) is gaining nearly 7%. Ero Copper (ERO.TO) is up 5.8% and Brookfield Renewable Corporation (BEPC.TO) is gaining 4.1%.

Precision Drilling Corporation (PD.TO), Celestica Inc (CLS.TO), Cargojet (CJT.TO), Tourmaline Oil Corp (TOU.TO) and Wheaton Precious Metals (WPM.TO) are up 2 to 4%.

Agnico Eagle Mines (AEM.TO), Franco-Nevada Corporation (FNV.TO), Kinaxis Inc (KXS.TO), Imperial Oil (IMO.TO), Descartes Systems Group (DSG.TO) and West Fraser Timber (WFG.TO) are up 1 to 2%.

Dayforce (DAY.TO) is down about 3.7%. Alimentation Couche-Tard (ATD.TO), Brp Inc (DOO.TO), Rogers Communications (RCI.B.TO), Endeavour Mining Plc (EDV.TO), Boralex (BLX.TO) and ATS Corporation (ATS.TO) are lower by 1.2 to 2.6%.