CANADA STOCKS-TSX to open lower on resources, budget eyed
TORONTO Jan 27 (Reuters) - Toronto's main stock market index could open lower on Tuesday as weak oil and gold prices weigh on the resource-heavy market.
Investors could take a cautious stance ahead of the release of Canada's budget after the markets close.
Canada's minority Conservative government will present a budget to deal with the effects of the global economic crisis. [ID:nN23482302]
Presenting its action plan in the Speech from the Throne, formally starting a new session of Parliament on Monday, the government said its economic stimulus plan would promote long-term growth while avoiding a return to permanent deficits.
The government has also said the budget will contain C$7 billion in infrastructure funds for the next two years, contribute C$2 billion in social housing spending, while C$1 billion is earmarked to help single-industry towns.
The budget will project a deficit of C$64 billion over the next two years.
Toronto's main stock index .GSPTSE rebounded on Monday as a rally in the financial and energy sectors offset pressure from the materials group. [ID:nN26405950]
Here is some of the news that may affect the index:
OIL REVERSES, FALLS TOWARD $45 BEFORE US API DATA Continued...