Canadian Stocks Barely Budge As US Preps Rate Hike -- Canadian Commentary

(RTTNews) - Canadian stocks were flat for second day Friday amid growing speculation the Federal Reserve will raise interest rates in the next few months.

The S&P/TSX Composite Index was up 9.16 points, or 0.06 percent, to 14,639.

Financials were flat despite this week's strong bank earnings. Energy shares crept higher along with oil prices.

Federal Reserve Chair Janet Yellen spooked markets a bit with hawkish remarks at the Fed's Jackson Hole retreat.

"In light of the continued solid performance of the labor market and our outlook for economic activity and inflation, I believe the case for an increase in the federal funds rate has strengthened in recent months," Yellen said in prepared remarks.