CANADA STOCKS-TSX may open lower on resources prices, Fed eyed

Wed Feb 24, 2010 8:08am EST
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TORONTO Feb 24 (Reuters) - Canada's main stock market index may open lower for a third day on Wednesday as weak gold and energy prices weigh on the commodity-laden index.

Investors are also expected to remain cautious ahead of Federal Reserve Chairman Ben Bernanke's semiannual testimony on monetary policy and the state of the economy before the U.S. House Financial Services Committee.

Toronto's main stock index fell for a second straight session on Tuesday, knocked down by weak U.S. consumer confidence data that cast doubt on the strength of the economic recovery.[ID:nN23120756]

Here is some of the news that may affect the market.


Gold fell more than 1 percent to $1,089.75 an ounce as prices slipped below $1,100, sparking technical selling, and amid caution ahead of Federal Reserve chair Ben Bernanke's congressional testimony later on Wednesday. [ID:nLDE61N0Y5]


Oil shed over 30 cents to near $78.50 on Wednesday as investors fretted over signs of weakness in any global recovery and waited for U.S. figures later for clearer indications on crude inventories and imports. [ID:nSGE61N078]

CANAM GROUP   Continued...