The Federal Reserve’s rate decision later today will be key. Markets are expecting a quarter-point rate increase but focus will also be on whether the U.S. central bank signals a pause in its lengthy tightening campaign. What investors need to know today:
Canada’s main stock index slid at Tuesday’s opening bell with weaker crude prices weighing on energy stocks. On Wall Street, key indexes also saw modest early declines as traders await tomorrow’s interest rate decision from the Federal Reserve.was down 118.46 points, or 0.57 per cent, at 20,496.64.
“The Fed might choose to remain vigilant and that is something this market is not ready to price in.”Canadian investors got results from Tim Hortons-parent Restaurant Brands International ahead of the opening bell.to US$1.59 billion in the first quarter, from US$1.45 billion a year earlier. Analysts on average had expected revenue of US$1.56-billion, according to Refinitiv IBES data.
Overseas, the pan-European STOXX 600 was down 0.46 per cent by midday. Britain’s FTSE 100 was off 0.25 per cent. Germany’s DAX and France’s CAC 40 lost 0.48 per cent and 0.77 per cent, respectively. Traders will also get the first of two weekly U.S. crude inventory reports later in the session. Analysts polled by Reuters are looking for a third consecutive week of declines, suggesting continued demand.
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