Bay Street Likely To Open On Mixed Note; Fed Decision Eyed

(RTTNews) - The Canadian market is likely to open on a mixed note on Wednesday, and the mood is likely to remain a bit cautious with investors looking ahead to the Federal Reserve's monetary policy announcement later in the day.

Markets are also awaiting more details about Iran peace deal, and the signing of the agreement by Tehran and Washington later this week in Switzerland.

Canadian stocks closed higher on Tuesday, extending three consecutive sessions of gains, as markets continued to carry the optimism from Sunday's announcement on an initial U.S.-Iran deal to end their conflict, which is scheduled to be signed on Friday.

The benchmark S&P/TSX Composite Index settled at 35,389.58, up by 113.94 points or 0.32%.

Asian stocks closed mixed on Wednesday as investors awaited the Federal Reserve's monetary policy announcement, due later in the day, and Friday's signing of the U.S.-Iran interim peace agreement.

European stocks are mostly subdued in lackluster trades with investors looking ahead to monetary policy announcements from the Federal Reserve, the Bank of England (Thursday) and the Swiss National Bank (Thursday), and awaiting the signing of U.S.-Iran peace deal.

Canadian stocks closed higher on Tuesday, gaining for a on Tuesday, extending three consecutive sessions of gains, as markets continued to carry the optimism from Sunday's announcement on an initial U.S.-Iran deal to end their conflict, which is scheduled to be signed on Friday.

After opening higher than yesterday's close, today the benchmark S&P/TSX Composite Index lost momentum early in the session but regained ground and traded positive throughout the rest of the session before settling at 35,389.58, up by 113.94 points (or 0.32%).

In commodities, West Texas Intermediate Crude oil futures are up $0.74 or 0.97% at $76.79 a barrel.

Gold futures are down $11.90 or 0.27% at $4,342.50 an ounce, while Silver futures are down $0.163 or 0.23% at $69.850 an ounce.