12:15 PM EDT, 05/05/2025 (MT Newswires) -- The Toronto Stock Exchange is flat at midday with most sectors in the red.

The biggest decliners are healthcare and energy, down 1.7% and 1.6%, respectively.

In commodities, oil traded at a fresh four year low early on Monday after OPEC+ said it will again speed the return of 2.2-million barrels per day of production cuts with a second-straight monthly supply increase of 411,000 bpd in June, a move likely to push the market into surplus even as the global economy slows amid trade wars.

But gold was sharply higher early on Monday as the dollar tumbled ahead of Wednesday's interest-rate decision from the Federal Reserve. Natural gas rose for a second session to near a month high on expectations weakening oil prices will cut into U.S. oil drilling and reduce production of associated gas.

Prime Minister Mark Carney prepares to travel to Washington to meet with Donald Trump on Tuesday. The U.S. president in a television interview over the weekend said it is "highly unlikely" the United States would ever use military force to annex Canada, though he continues to push to make it the 51st state. Trump also repeated claims that the U.S. subsidises the Canadian economy.

In a weekend interview on NBC, Trump also insisted he doesn't plan to fire Fed Chair Jerome Powell although he continued with his criticism over the pace of rate cuts.

Among individual stocks, Parkland (PKI.TO) was up near 6% after NYSE-listed Sunoco on Monday agreed to acquire it in a cash and equity transaction valued at about US$9.1 billion, including assumed debt.