Bay Street May Open With Negative Bias

RTTNews | Před 1149 dny

(RTTNews) - Canadian shares are likely to open with a negative bias on Monday, weighed down by lower commodity prices.

With the Federal Reserve's interest rate decision due on Wednesday, the mood is likely to be largely cautious.

In earnings news, Cargojet (CJT.TO) reported third-quarter net income of $83.4 million (net loss of $1.9 million excluding warrant valuation gain) compared to net loss of $12.9 million in 2021 (net income of $23.9 million excluding warrant valuation loss).

Capstone Copper Corp (CS.TO) posted adjusted net loss of $19.3 million, or $0.02 per share in the third quarter of this financial year. The company posted adjusted net income of $35.3 million or $0.09 per share in the year-ago quarter.

The Canadian market ended on a firm note on Friday despite suffering set back after a positive start. The benchmark S&P/TSX Composite Index, which dropped to 19,282.70 early on in the session, ended with a gain of 119.08 points or 0.62% at 19,417.19. The index gained 2.95% in the week.

On the economic front, a report from Statistics Canada said the Canadian economy likely expanded by 0.4% quarter-on-quarter in Q3 of 2022, pointing to a 0.1% growth in September from August, according to preliminary estimates. Regarding August, the GDP also expanded by 0.1%, above preliminary estimates of a stall.

Asian stocks rose broadly on Monday amid renewed bets the U.S. Federal Reserve may slow the pace of interest-rate increases at its December meeting.

Chinese and Hong Kong shares underperformed regional peers as weak economic data added to concerns about slowing growth.

European stocks are turning in a mixed performance in cautious trade with data showing a surge in eurozone inflation soaring to a record high in October weighing on sentiment. Markets are also looking ahead to the Fed interest rate decision.

In commodities trading, West Texas Intermediate Crude oil futures are down $1.55 or 1.77% at $86.35 a barrel.

Gold futures are down $2.30 or 0.14% at $1,642.50 an ounce, while Silver futures are lower by $0.022 or 0.11% at $19.125 an ounce.

Yen Rises Against Majors

The Japanese yen strengthened against other major currencies in the Asian session on Tuesday.

RTTNews | Před 1 h 10 min

Europe Car Sales Increase In November

Europe's new car registrations increased for the fifth straight month in November, driven by robust growth in battery electric cars sales, data from the European Automobile Manufacturers' Association, or ACEA, showed Tuesday. Car registrations grew 2.1 percent year-on-year in November but slower that the 5.8 percent rise seen in October.

RTTNews | Před 2 h 54 min

European Economic News Preview: German Import Price Data Due

Import prices from Germany and revised GDP data from Spain are the top economic news due on Tuesday. At 2.00 am ET, Destatis is scheduled to issue Germany's import price data. Economists expect import prices to grow 0.2 percent month-on-month in November, the same rate as in October. In the meantime, producer price figures are due from Sweden.

RTTNews | Před 3 h 26 min

Cautious Optimism Expected In European Markets

Stock markets in Europe are expected to trade on a cautiously optimistic note on Tuesday amidst rising geopolitical tensions, Fed rate cut hopes, thin holiday trade as well as mixed reactions to tech valuations.

RTTNews | Před 4 h 4 min

RBA Minutes: Policymakers Discussed Rate Hike Scenario

Policymakers of the Reserve Bank of Australia discussed scenarios in which policy tightening may need to be considered, the minutes of the meeting held on December 8 and 9 showed Tuesday. Members became less confident that monetary policy remains restrictive, the minutes showed. Policymakers assessed that inflationary pressures could be a little more persistent than had been previously estimated

RTTNews | Před 4 h 8 min

Australian Market Sharply Extends Early Gains In Mid-market

The Australian stock market is sharply expending the early gains in mid-market trading on Tuesday, adding to the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,750 level, with gains across most sectors led by financial and technology stocks.

RTTNews | Před 6 h 35 min

Indian Shares Look Headed For Another Positive Start

It's likely to be a firm start for Indian shares on Tuesday with investors set to track positive cues from Wall Street and Asian markets. A drop in oil prices is also likely to aid sentiment.

RTTNews | Před 6 h 43 min

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, as the markets extend their gains boosted continued strength among technology stocks. Major currencies in the region also strengthened against the US dollar. Asian markets closed mostly higher on Monday.

RTTNews | Před 6 h 47 min

EURUSD	1.17843	GBPUSD	1.35099	AUDUSD	0.66873
USDJPY	155.868	USDCAD	1.37168	USDCHF	0.78871