TSX snaps green streak & ends May in red, bond market & loonie gain

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TSX snaps green streak & ends May in red, bond market & loonie gain

 TSX snaps green streak & ends May in red, bond market & loonie gain
Image source: Copyright © 2021 Kalkine Media Pty Ltd.

The seven-day green streak of the TSX Composite Index ended Tuesday, May 31, after it fell by 190.06 points, 0.91 per cent. All the sectors closed in the red, energy down 2.8 per cent.

This meant that the index posted a second straight monthly loss. At 20,729.34 points, the benchmark index’s loss for May came in at 0.16 per cent.

The Bank of Canada is expected to hike the interest rate again Wednesday, June 1.

One-year price chart (May 31). Analysis by © 2022 Kalkine Media®

Volume actives

ARC Resources Ltd saw nearly 54 million shares traded, making it the most active stock. It was followed by Manulife Financial Corporation that saw 23 million shares switch hands, and Athabasca Oil Corporation saw 22 million shares traded.

Movers and laggards

Wall Street updates

The Dow closed lower by 222.84 points, 0.67 per cent, at 32,990.12 points, while the S&P 500 gave away 26.09 points, 0.63 per cent, to end at 4,132.15 points. Nasdaq’s benchmark was down 49.74 points, 0.41 per cent, to 12,081.39.

Commodities gain

Gold lost 0.38 per cent to US$ 1,848.40. The price of Brent oil rose 4.46 per cent and was at US$ 122.84/bbl and that of crude oil fell 2.5 per cent to US$ 114.67/bbl.

Currency news

The loonie gained 0.09 per cent compared to the US dollar while USD/CAD ended at 1.2644. The US Dollar Index was at 101.77 against the basket of major currencies, up 0.1 per cent.

Money market

The US 10-year bond yield was up 1.8 per cent to 2.862 and the Canada 10-year bond yield was up 2.27 per cent to 2.908.

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