TSX set to snap eight-day losing streak, Industrials rise

Oct 30 - Canada's main stock index seemed on track to snap an eight-day losing streak as TSX moved higher on Monday after Air Canada's annual profit forecast lifted the industrial sector while investor sentiment was optimistic ahead of a week full of scheduled economic data.

Air Canada said it expects 2023 core profit towards the higher range of its previous forecast after strong demand for international travel helped the carrier beat third-quarter profit estimates. Markets will closely monitor Canada's GDP for August and manufacturing data for October slated for later in the week.

Investors will also be keeping tabs on the U.S. Federal Reserve's crucial monetary policy meeting on Wednesday, where the central bank is widely expected to keep interest rates unchanged, boosting shares of rate-sensitive sectors.Consumer staples sector made the most gains, up 1.7%, while the materials sector was the only outlier, down 2.4% as a sell-off in First Quantum shares weighed on the sub-index.

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

In the Market-Treasury market braces for seismic SEC ruleExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Stock market news today: US stocks rise as eyes turn to big week of eventsInvestors are bracing for the Federal Reserve decision and Apple earnings later in the week.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »

The most oversold and overbought stocks on the TSX on Oct. 30A look at equities with price momentum in both directions
Source: globeandmail - 🏆 5. / 92 Read more »

World Bank sees oil prices lower in 2024, but wider Middle East war could spike themMarket News
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

UK mortgage approvals fall to lowest since January as rate hikes biteMarket News
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »

London stocks rise on strong earning reports; BoE decision in focusMarket News
Source: KitcoNewsNOW - 🏆 13. / 78 Read more »