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Canada’s main stock index spent another day in the red on Tuesday, as the price of oil fell below US$100 a barrel, forcing losses among energy shares.

The utilities and telecom sectors led the gainers on the TSX, followed by the financial and health care markets.

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U.S. indexes also closed lower, continuing from the retreat from the previous session, ahead of key bank earnings and consumer price data. Traders are stressed about the state of the global economy as central banks across the globe move aggressively to calm inflation.

Inflation data scheduled for a Wednesday release is expected to show U.S. consumer prices rose 8.8 per cent in June from a year earlier. This would be a new 40-year high, putting even more pressure on the Federal Reserve to tame soaring prices.

Today in the Markets

TSX 18,678.64 -138.16 TSX
TSXV 592.70 -13.68 TSXV
CSE 263.61 +0.91 TSXV
DJIA 30,981.53 -192.51 DJIA
NASDAQ 11,264.73 -107.87 NASDAQ
S&P 500 3,818.80 -35.63 S&P 500

The Canadian dollar traded for 76.76 cents US compared to 76.96 cents US on Monday.

US crude futures traded 8.13 per cent lower at $95.63 a barrel, while the Brent contract lost 7.47 per cent to $99.10 a barrel.

The price of gold was down US$8.40 US to $1,723.30.

In world markets, the Nikkei was down 475.64 points to 26,336.66 the Hang Seng was down 279.46 points to 20,844.74, the FTSE was up 13.27 points to 7,209.86, and the DAX was up 73.04 points to 12,905.48.

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