S&P/TSX gains 100 points, U.S. markets mixed ahead of inflation reports

TORONTO — Broad-based strength led by base metals helped Canada's main stock index gain more than 100 points on Tuesday, while U.S. markets muddled to a mixed close ahead of highly anticipated inflation data coming this week.

Wednesday's U.S. consumer inflation report, plus more inflation data later in the week, will give more data points for the U.S. Federal Reserve to consider as it weighs when to start cutting its overnight rate. Markets have pared back their expectations for how many times the central bank could cut this year to three, but even that may be a lofty goal, said Zechner.

“It’s a long path back to two per cent , and it’s taking longer than maybe they expected,” Zechner said.However, the strength in commodities has been helping Canadian markets “play catch-up,” he said.

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