Bay Street Seen Opening On Mixed Note

(RTTNews) - Canadian shares are seen opening on a mixed note Tuesday morning with investors tracking the trend in the commodities market, and continuing to assess the impact of U.S. President Donald Trump's fresh tariff threats.

The mood is likely to remain a bit cautious ahead of the monetary policy announcements from the Bank of Canada and the Federal Reserve on Wednesday.

In company news, Aya Gold & Silver today said it expects a production of 6.2 million to 6.8 million silver-equivalent ounces this year, up from 5 million in 2025.

In economic news, data from Statistics Canada showed wholesale sales in Canada increased 2.1% in December, after declining by 1.8% a month earlier.

Canadian stocks closed marginally down on Monday, due largely to profit taking after recent gains. Additionally, fresh U.S. tariff threats hurt a bit.

The benchmark S&P/TSX Composite Index settled with a loss of 51.66 points or 0.16% at 33,093.32.

On Saturday, U.S. President Donald Trump threatened to impose 100% tariffs on goods imported from Canada if Canada goes ahead with a free trade deal with China. Trump also stated that he cannot allow Canada to become a "drop-off port" for China to send goods and products into the U.S.

Asian stocks moved up on Tuesday after Wall Street's strong overnight performance. Investors shrugged off geopolitical and U.S. government shutdown worries to focus on upcoming big tech earnings and the Federal Reserve's interest rate decision.

European stocks are broadly higher today with several counters from banking and industrials sectors attracting buyers. The mood, however, remains a bit cautious with investors assessing recent tariff threats by Trump, and looking ahead to the Federal Reserve's monetary policy announcement.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.35 or o.58% at $60.98 a barrel.

Gold futures are up $2.50 or 0.05% at $5,085.00 an ounce, while Silver futures are down $3.054 or 2.61% at $112.450 an ounce.