Canadian Stocks May Pause After Recent Rally -- Canadian Commentary

(RTTNews) - Canadian stocks will look to extend a recent win streak Wednesday morning, but traders may choose to lock in profits as commodity prices eased a bit.

Crude oil futures have leveled off near $48 a barrel after surging to their highest since October. Stubborn wildfires are preventing Canada's oil sands operators from full production.

Gold was down $1.50 at $1275 an ounce, while silver continue to fall back toward $17 an ounce.

Yesterday it was revealed that billionaire George Soros bought a 1.7 percent stake in Barrick Gold Corp. (ABX.TO) worth $264 million.

CIBC's (CM.TO) trading floor has been hit by sexual harassment allegations, according to the Globe and Mail.

Meanwule, the Panama Papers reveal SNC-Lavalin (SNC.TO) paid a secret Caribbean-registered company to obtain hundreds of millions of dollars in business in Algeria, according to the CBC.

The S&P/TSX Composite Index gained 23.61 points, or 0.17 percent, to 13,917.10 on Tuesday, adding to Monday's triple-digit advance.