MID-DAY: More big bank reports coming this week; Canada federal budget details released Tuesday
The TSX is getting a boost from financial and material stocks to push it to a three-week high. The Bay Street index is up 61 points to 15,699.
On Wall Street it’s another strong day as the Dow is up 155 points to 24,465. Although, traders will be watching on Tuesday when the Federal Reserve’s new chair speaks more about the financial forecast for the US. While policymakers have said they don’t have plans to add anymore interest rate hikes, some analysts are expecting a fourth hike, likely when the members of the reserve meet in March.
Gold is continuing growth from this morning, gaining 3.60 to 1333.
Oil is up 0.04 to 63.59.
The Loonie has slipped to 78.70 cents US.
Canadian financial sectors could get another boost as Scotiabank, TD and The National Bank of Canada are all reporting quarterly results this week. The feds are also releasing budget details on Tuesday.