Bay Street May Pause For Another 'Buy' Signal -- Canadian Commentary

(RTTNews) - Early signals are mixed for Canadian stocks Friday morning after strong gains earlier in the week.

The Bay Street rally paused in the previous session and traders may be reluctanct to keep buying ahead of a closely-watched speech from US Federal Reserve boss Janet Yellen.

Yellen, who speeks at 1:15 pm ET, is expected to echo recent remarks from Fed officials indicating a willingness to raise interest rates this summer.

Energy stocks may come under some pressure as crude oil prices slumped below $50.

Oil traders locked in recent gains ahead of a crucial OPEC meeting on June 2.

Trouble drug maker Valeant (VRX.TO) rejected joint takeover bid from Takeda and TPG in spring, according to the Globe and Mail.

Loblaw (L.TO) is looking to sell its 212 retail fuel sites located adjacent to grocery stores in the Loblaw network.

Cameco Corp. (CCO.TO) will restructure its Inkai JV partnership with KazAtomProm.