CANADA STOCKS-TSX declines as investors brace for Fed
* TSX down 33.66 points, or 0.22 percent, at 15,476.88 * Six of the 10 main index sectors decline * Energy shares track U.S. crude oil price lower By John Tilak TORONTO, Sept 17 (Reuters) - Canada's main stock index fell on Wednesday as investors anxiously awaited release of a U.S. Federal Reserve policy statement at the conclusion of a two-day Fed meeting later in the day. Investors will search the statement for changes in the U.S. central bank's outlook on interest rates, with market expectations swinging back and forth on how fast the Fed will move to raise rates. The volatility of global markets has increased in recent weeks as the Fed statement approached, with the Canadian benchmark stock index trading sideways after a strong runup since the start of the year. "Investors will look for more clarity on the timing and quickness of (the Fed's) next policy move," said Stan Wong, director of wealth management and portfolio manager at ScotiaMcLeod. "Forward guidance from the Fed today is especially crucial to investor sentiment." "Market participants are paying a lot of attention to whether the Fed continues to say they will wait for 'a considerable time' between ending the quantitative easing, which should happen next month, and raising interest rates," Wong added. The Toronto Stock Exchange's S&P/TSX composite index was down 33.66 points, or 0.22 percent, at 15,476.88. Wong said that the recent selloff in energy shares on the Toronto market might have been overdone, offering investors a buying opportunity. "With the U.S. economy on track to continue to grow and the global economy hopefully following suit, energy prices should go higher," he said. Six of the 10 main sectors on the Canadian index were in the red on Wednesday. Shares of energy producers gave back 0.7 percent, reflecting weakness in the price of U.S. crude oil. Suncor Energy Inc lost 0.5 percent to C$43.24 and Canadian Natural Resources Ltd shed 0.4 percent to C$45.54. The materials sector, which includes mining stocks, declined 0.4 percent, with commodity prices showing choppiness. Goldcorp Inc fell 0.8 percent to C$27.55 and Potash Corp was down 0.4 percent at C$38.50. ($1=$1.10 Canadian) (Editing by Peter Galloway)
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