Oil Giant Earnings May Disrupt Eerie Quiet Over Canadian Stocks
- Cenovus, Encana, Suncor all to report earnings Oct. 30-31
- S&P/TSX Composite Index rose 50% of the time this month
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October has been a busy month for Canada: a federal election, the first anniversary of legalized weed, easing U.S.-China trade tensions and earnings announcements are trickling in. But the stock market seems to have ignored all that.
With 18 trading sessions out of the way in October, the S&P/TSX Composite Index has barely moved from the end of September with nine up and nine down days. Volatility is at a three-month low and trading volume is on track for the lowest level since July 2017. That’s in contrast to the U.S., where the S&P 500 is hovering near its record high.