Bay Street Likely To Open Lower

RTTNews | vor 23 Tagen

(RTTNews) - Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.

U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners that haven't got letters yet.

Trump also said he would make an announcement regarding Russia, raising the prospect of more sanctions on the major oil producer.

Data from Statistics Canada showed employment in Canada increased by 83,100 in June. The unemployment rate in Canada decreased to 6.9% in June from 7% in May.

Average hourly earnings in Canada increased to C$ 37.22 in June of 2025 over the previous month.

A separate data from Statistics Canada showed building permits in Canada increased to 12% in May from -6.8% in April of 2025.

On Thursday, the Canadian market climbed to a new high despite ongoing concerns about tariffs. The benchmark S&P/TSX Composite Index, which touched an intraday high of 27,120.00 post noon, settled at 27,082.30, gaining 109.98 points or about 0.41%.

In a Truth Social post Wednesday evening, Trump announced a 50 percent tariff on copper is due to go into effect on August 1st.

Trump also posted several more letters to world leaders on Truth Social revealing plans to increase tariffs.

Asian shares ended weak in cautious trade on Friday after Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners that haven't got letters yet.

The major European markets are down in negative territory with notable losses, hurt by renewed fears of a global trade war following U.S. President's latest tariff announcements.

In commodities, West Texas Intermediate Crude oil futures are up $0.74 or 1.11% at $67.31 a barrel.

Gold futures are gaining $34.80 or 1.02% at $3,360.50 an ounce, while Silver futures are up $1.030 or 2.76% at $38.335 an ounce.

European Economic News Preview: Eurozone Sentix Investor Confidence Due

Investor confidence from the euro area and unemployment from Spain are the top economic news due on Monday. At 2.30 am ET, the Federal Statistical Office publishes Swiss inflation data for July. Economists forecast consumer prices to rise 0.1 percent year-on-year, the same rate of increase as seen in June.

RTTNews | vor 54 Minuten

European Shares Seen Tad Higher At Open

European stocks may open on a positive note Monday as investors keep an eye on the latest batch of earnings and watch further developments on the tariff front.

RTTNews | vor 1Std 12 Minuten

Sensex, Nifty Give Up Early Gains; IT And Pharma Stocks Drag

Indian shares were little changed on Monday, giving up some early gains, with rising trade tensions with the U.S., mixed earnings results and continued foreign fund outflows keeping investors on edge.

RTTNews | vor 2Std 30 Minuten

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in choppy mid-market trading on Monday, also adding to the losses in the previous two sessions, following the broadly negative cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is falling below the 8,650.00 level, with weakness in energy, financial and technology stocks partially offset by strong gains in mining stocks.

RTTNews | vor 3Std 9 Minuten

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Monday, following the negative cues from Wall Street on Friday, amid concerns about the economic impact of US President Donald Trump's unilateral "reciprocal tariffs" and aggressive trade stance on the global economy. However, the weaker than expected US monthly jobs data increased optimism about a potential interest rate cut by the US Fed in September.

RTTNews | vor 3Std 51 Minuten

Sensex, Nifty Seen Tad Higher At Open

Indian shares look set to open on a positive note Monday after two consecutive sessions of losses.

RTTNews | vor 4Std 19 Minuten

Thai Stock Market Expected To Open In The Red Again On Monday

The Thai stock market has moved lower in consecutive trading days, falling more than 25 points or 2 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,220-point plateau and it's likely in for a rough ride again on Monday.

RTTNews | vor 4Std 53 Minuten

Indonesia Bourse May Turn Lower Again On Monday

The Indonesia stock market on Friday halted the two-day slide in which it had dropped almost 140 points or 1.9 percent. The Jakarta Composite Index now sits just shy of the 7,540-point plateau although it's likely to head south again on Monday.

RTTNews | vor 5Std 23 Minuten

EURUSD	1.15749	GBPUSD	1.32884	AUDUSD	0.64843
USDJPY	147.556	USDCAD	1.37687	USDCHF	0.80713

Advertisement

Bay Street Likely To Open Lower