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2025-09-13 01:39:18
Canadian stocks fell slightly on profit-taking. Despite an increased likelihood of a Federal Reserve rate cut next week, Canadian stocks remained in negative territory on Friday. After hitting record highs in the previous few sessions, the Canadian stock market is currently undergoing a brief correction. Technology, consumer discretionary, consumer staples, and industrial stocks were the main losers. Energy stocks received some support from rising oil prices, while other sectors were mixed. Shortly after midday, the benchmark S&P/TSX Composite Index fell 124.29 points, or 0.42%, to 29,283.60. U.S. Consumer Price Index (CPI) and Producer Price Index (PPI) data released earlier this week further reinforced market expectations of a rate cut by the Federal Reserve at its upcoming meeting on September 16-17. Recent Canadian inflation data also raises the possibility of a rate cut by the Bank of Canada, which is scheduled to announce its monetary policy on Wednesday, September 17.
