Bay Street Likely To Open Higher

RTTNews | vor 767 Tagen

(RTTNews) - Higher crude oil and gold futures point to a positive start for the Canadian market Monday morning.

The focus will be on the upcoming policy meetings of the U.S. Federal Reserve, European Central Bank and the Bank of Japan.

TC Energy Corporation (TRP.TO) announced today that it has entered into an agreement to sell a 40% stake in its Columbia Gas Transmission and Columbia Gulf Transmission systems for C$5.2 billion.

CGI Inc (GIB.A.TO) shares will be in focus on reports the company is planning to invest C$1 billion over three years on the expansion of its artificial intelligence services and solutions.

On the economic front, preliminary data on Canada's wholesale sales for the month of June is due at 8:30 AM ET.

The Canadian market ended on a firm note on Friday, although investors appeared a bit reluctant to make big moves ahead of the Federal Reserve's monetary policy meeting.

The benchmark S&P/TSX Composite Index ended the day's session with a gain of 110.64 points or 0.54% at 20,547.51. The index gained about 1.4% in the week.

Asian stocks closed mostly higher on Monday amid bets that the U.S. Federal Reserve would pause its tightening campaign after delivering a 25-bps hike this week. Chinese stocks closed lower, weighed down by losses posted by property developers due to liquidity concerns.

European stocks are subdued with weak Eurozone business activity data and an inconclusive election result in Spain rendering the mood cautious.

The HCOB Flash Eurozone Composite PMI Output Index, which gauges activity in the manufacturing and services sector, fell to an eight-month low of 48.9 in July from 49.9 in June.

French and German PMI data also came in weaker than expected, raising fears of a recession.

In commodities, West Texas Intermediate Crude oil futures are up $0.48 or 0.61% at $77.55 a barrel.

Gold futures are up $2.50 or 0.13% at $1,969.10 an ounce, while Silver futures are down marginally at $24.830 an ounce.

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | vor 1Std 35 Minuten

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | vor 1Std 54 Minuten

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | vor 2Std 37 Minuten

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | vor 3Std 7 Minuten