Bay Street Seen Opening On Cautious Note

RTTNews | Před 828 dny

(RTTNews) - The Canadian market is likely to open on a cautious note on Tuesday, tracking weak European stocks and lower crude oil prices.

The focus is on U.S. inflation data, due later in the week. The reports on U.S. consumer and producer price inflation, which are due to be released on Wednesday and Thursday, respectively, could have a significant impact on the outlook for interest rates.

Fed Chair Jerome Powell said following last week's rate hike that the central bank would take a "data-dependent approach" to future monetary policy decisions.

Weak trade data from China is also likely to weigh on sentiment.

In earnings news, George Weston Limited (WN.TO) reported adjusted net earnings of $282 million for the first quarter of 2023, flat compared to the same period in 2022.

Keyera Corporation (KEY.TO) reported first-quarter net earnings of $138 million, compared with $114 million in the year-ago quarter.

SNC-Lavalin Group (SNC.TO) reported first-quarter net ncome of 28.4 million, or $0.16 per share, compared to $24.8 million, or $0.14 per share in the first quarter of 2022.

The Canadian market ended modestly higher on Monday, led by gains in technology and consumer directory sectors. The mood was cautious as investors awaited more data for directional clues.

The benchmark S&P/TSX Composite Index ended with a gain of 43.12 points or 0.21% at 20,585.15 after moving in a tight range between 20,544.15 and 20,627.77.

Asian stocks ended mostly lower today on disappointing trade data from China. Also, investors were wary of making significant moves ahead of key U.S. inflation numbers.

European are down firmly in negative territory as investors await key inflation data from the U.S. for clues about the Federal Reserve's likely stance on policy tightening.

In commodities, West Texas Intermediate Crude oil futures are down $0.77 or 1.07 percent at $72.39 a barrel.

Gold futures are gaining $6.20 or 0.32% at $2,039.40 an ounce, while Silver futures are down $0.074 or 0.29% at $25.760 an ounce.

Canadian Market Remains In Negative Territory After Weak Start

The Canadian market, which opened on a weak note Thursday morning, continues to languish in negative territory well past noon, weighed down by losses in technology and industrials sectors.

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Swiss Market Ends Modestly Higher After Mild Struggle

The Switzerland market recovered after a flat start on Thursday, and after staying positive till well past noon, suffered a setback but regained some strength to eventually end the day's session modestly higher.

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Major European Markets Close On Positive Note

Amid expectations of a rate cut from the Federal Reserve in September, and hopes the meeting between the Presidents of the U.S. and Russia will help end the war in Ukraine, the major European markets closed on a positive note on Thursday, although the U.K. market underperformed other major markets in the region.

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U.S. Producer Price Growth Far Exceeds Estimates In July

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RTTNews | Před 7 h 15 min

U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 9th. The report said initial jobless claims dipped to 224,000, a decrease of 3,000 from the previous week's revised level of 227,000.

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UK GDP Rises More Than Expected

The UK economy expanded more than expected in the second quarter but the overall growth softened as US frontloading propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 pe

RTTNews | Před 8 h 28 min

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Thursday morning, reacting to data showing a bigger than expected increase in U.S. producer price index, and mixed batch of earnings data from Canada. Oil prices are up, while metals are exhibiting weakness.

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S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Global Ratings upgraded India's sovereign ratings on Thursday citing a buoyant economic growth, enhanced monetary policy conditions and the government's fiscal consolidation commitment, while the higher tariffs from the U.S. administration is estimated to have only limited impact on the economy. India's sovereign credit ratings were raised to 'BBB' from 'BBB-', with a 'stable' outlook.

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EURUSD	1.16492	GBPUSD	1.3527	AUDUSD	0.64966
USDJPY	147.774	USDCAD	1.38145	USDCHF	0.80723