(Updates with morning prices)
By Ragini Mathur
Oct 7 (Reuters) - Canada's main stock index was nearly
flat on Tuesday, taking a breather after its recent
record-breaking rally, as focus shifted to Prime Minister Mark
Carney and U.S. President Donald Trump's meeting scheduled later
in the day.
Toronto's S&P/TSX composite index was down 0.1% at
30,502.53 points, after seven consecutive sessions of gains and
multiple record highs.
Carney is making his second visit to the White House in five
months, facing increasing pressure to address U.S. tariffs on
steel, autos and other goods hurting Canada's economy.
A Canadian government official and several analysts,
however, played down the chances of an imminent trade deal with
Trump.
"Our focus has shifted onto the fact that our Prime Minister
is visiting Mr. Trump today to presumably talk about tariffs but
I'm not sure that the market is expecting too much to come out
of that", said Michael Sprung, president at Sprung Investment
Management.
On TSX, nine out of ten sectors were trading in the red,
with consumer staples leading the declines, falling
0.8%.
Sprung added that investors might be a bit more defensive
and consider "taking a little bit off the table" where there are
significant profits.
On the positive side, information technology stocks
rose 0.8%, building on the gains from the previous
session.
Healthcare sector also rose 1.6% after declining
in the previous two sessions.
With the U.S. government shutdown ongoing and a dearth of
fresh economic data, investors will be closely monitoring
Federal Reserve commentary from officials, including Vice Chair
Michelle Bowman and several regional Fed presidents.
Market participants are also awaiting this week's Canadian
employment report, which will provide crucial insights into the
country's economic health and likely influence the Bank of
Canada's upcoming monetary policy decisions.