By Ketki Saxena
Investing.com -- Canada's main stock index, the S&P/TSX composite traded in the red today, ahead of Canadian CPI data tomorrow that will offer further guidance on the Bank of Canada's next move.
The big event this week will be the U.S. Federal Reserve's monetary policy meeting on Wednesday, at which it is widely expected to keep rates on hold.
On Wall Street meanwhile, the major indices eked out a gain supported by energy and Apple (NASDAQ:AAPL).
Canadian Stock Market News
Hut 8 (TSX:HUT)'s previously announced merger with US Bitcoin Corp has received final approval from the Supreme Court of British Columbia. The new entity will be known as Hut 8 Corp (New Hut) and is expected to have a market capitalization of about US$990 million.
Kerrisdale Capital announced that it is short on Tilray (TSX:TLRY), Inc., describing the company as a "failing cannabis player." Kerrisdale also alleges that Tilray is obscuring losses by issuing shares instead of recording cash expenses to one of its largest suppliers.
Shares of Bank of Montreal (TSX:BMO) fell as it announced over the weekend that it will be shuttering its indirect retail auto finance business, as well as cutting an unspecified number of jobs.
Canopy Growth (TSX:WEED) Corporation announced it would be raising $50 million through a private placement with institutional investors, offering 22,929,468 units at a price per unit of US$1.09 for gross proceeds of US$25 million.
For earnings, view our earnings calendar.
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For all Canadian Stocks Moving Markets today, view our Canada Markets Page.
In Canadian Economics
Statistica Canada reports that the Industrial Product Price Index rose 1.3% month over month in August and was down 0.5% year over year. The Raw Materials Price Index meanwhile increased 3.0% on a monthly basis in August and was down 4.3% year-over-year.
Canadian housing starts fell 1% in August on a monthly basis. The seasonally adjusted annualized rate of housing starts fell to 252,787 units from a revised 255,232 units in July.
For all Canadian economic releases, view our economic calendar.
All currencies CAD, unless stated otherwise.