Canadian Stocks May Fight Back -- Canadian Commentary

(RTTNews) - Canadian stocks may rise Monday morning along with other global markets amid higher commodity prices.

Analysts say the U.S. Federal Reserve is all but certain to raise interest rates this week, and may avoid raising them altogether for the rest of the year.

The S&P/TSX composite index shed 52.98 points to 14,450.69 on Friday, stung by weaker energy and health care stocks.

However, energy stocks may rebound today amid signs OPEC brothers and Iran will curb output in order to stabilize the market.

"We had a long bilateral meeting with [Iran's president Hassan] Rouhani. We're close to a deal between OPEC producer countries and non-OPEC," Venezuelan President Nicolas Maduro told a news conference at the end of a a summit of the Non-Aligned Movement.

Crude oil for December was up 62 cents at $43.64 a barrel, rebounding from a monthly low.

The leader of Canadian union Unifor reportedly said thousands of factory employees will strike at two General Motors Co. plants if the sides miss a Monday night deadline for a new contract.

Meanwhile, TMX Group (TMX.TO) said it had not been removed from the S&P/TSX Index.

Wayne Smith, the head of Statistics Canada, is resigning.