TSX down 0.1
Hudbay Minerals rises on Q1 profit beat
Canada March wholesale trade down 1.1
U.S. producer prices surge in April

May 14 Reuters Canada39;s main stock index was little changed on Tuesday, as a rise in material and healthcare stocks was offset by strongerthanexpected producer prices data from the U.S. that dampened hopes of interest rate cuts this year.

At 1019 a.m. ET 1419 GMT, the Toronto Stock Exchange39;s SPTSX composite index was down 28.09 points, or 0.13, at 22,231.08.

The materials sector, which includes precious and base metals miners and fertilizer companies, rose 1.0, tracking higher copper and gold prices.

The healthcare index led sectoral gains with a 2.9 rise, after medical cannabis producer Tilray Brands surged more than 9.

Shares in BlackBerry also climbed 16.8 to the top of TSX, following a meme stocks trading frenzy reminiscent of a similar rally in January 2021.

U.S. producer prices increased more than expected in April amid strong gains in the costs of services and goods, indicating that inflation remained at elevated levels early in the second quarter.

Meanwhile, U.S. Federal Reserve Chair Jerome Powell said he expects inflation to continue declining through 2024 as it did last year, though his confidence in that has fallen after prices rose faster than expected through the first quarter.

Investors will now turn their attention to the highly anticipated U.S. consumer price figures due Wednesday.

More hot inflation data could…