Bay Street Likely To Open On Positive Note

RTTNews | vor 170 Tagen

(RTTNews) - Canadian shares are likely to open higher Wednesday morning, tracking positive global cues, and encouraging earnings from National Bank of Canada.

The market is also likely to react positively to news about U.S. and Ukraine agreeing on a minerals deal. U.S. President Donald Trump's $4.5 trillion tax-cut and border security agenda may also lift sentiment. The agenda will be sent to the U.S. Senate after passing the Republican-controlled House of Representatives.

The National Bank of Canada reported first-quarter net income of $997 million, up 8% from $922 million in the first quarter of 2024. First-quarter diluted earnings per share stood at $2.78 compared to $2.59 in the first quarter of 2024.

George Weston Ltd. (WN.TO) reported adjusted net earnings of $415 million for the fourth-quarter of 2024, an increase of $73 million, or 21.3%, compared to earnings in the year-ago quarter.

The Canadian market closed higher on Tuesday as a firm show by Bank of Montreal thanks to encouraging results, and gains in consumer staples and real estate sectors outweighed weakness in energy, materials and technology sectors.

Worries about imminent tariffs by Trump administration limited the market's upside.

The benchmark S&P/TSX Composite Index closed up 52.72 points or 0.21% at 25,203.98, recovering well from an early low of 24,946.06.

Asian markets ended mixed on Wednesday as inflation and trade war fears offset Chinese AI optimism.

Tariff worries prevailed as U.S. President Donald Trump ordered a probe into potential tariffs on copper imports to boost U.S. production of the critical metal.

Treasury yields rebounded but the dollar remained undermined by growth worries. Gold lingered near one-week lows despite rising bets on earlier Fed rate cuts.

European stocks are up firmly in positive territory with investors reacting to earnings updates and news about U.S. and Ukraine agreeing on a minerals deal

In commodities, West Texas Intermediate crude oil futures are down $0.19 or 0.27% at $68.74 a barrel.

Gold futures are gaining $9.70 or 0.33% at $2,928.70 an ounce, while Silver futures are up $0.319 or 1% at $32.145 an ounce.

U.S. Business Inventories Rise In Line With Estimates In June

A report released by the Commerce Department on Friday showed business inventories in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said business inventories rose by 0.2 percent in June after coming in unchanged in May. The uptick matched expectations.

RTTNews | vor 48 Minuten

U.S. Consumer Sentiment Unexpectedly Deteriorates In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index fell to 58.6 in August from 61.7 in July. Economists had expected the index to inch up to 62.0.

RTTNews | vor 1Std 6 Minuten

U.S. Industrial Production Pulls Back Slightly In July

A report released by the Federal Reserve on Friday showed a modest decrease by U.S. industrial production in the month of July. The Fed said industrial production edged down by 0.1 percent in July after climbing by an upwardly revised 0.4 percent in June. Economists had expected industrial production to come in unchanged.

RTTNews | vor 1Std 35 Minuten

New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

The Federal Reserve Bank of New York released a report on Friday showing regional manufacturing activity unexpectedly grew at a faster rate in the month of August. The New York Fed said its general business conditions index climbed to 11.9 in August from 5.5 in July, with a positive reading indicating growth. Economists had expected the index to fall to 0.5.

RTTNews | vor 2Std 0 Minuten

U.S. Consumer Sentiment Index Unexpectedly Decreases In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday.

RTTNews | vor 2Std 26 Minuten

U.S. Import Price Growth Exceeds Estimates In July

The Labor Department released a report on Friday showing import prices in the U.S. increased by more than expected in the month of July. The report said import prices climbed by 0.4 percent in July after a downwardly revised 0.1 percent dip in June. Economists had expected import prices to inch up by 0.1 percent, matching the 0.1 percent uptick originally reported for the previous month.

RTTNews | vor 2Std 33 Minuten

U.S. Retail Sales Climb 0.5% In July, In Line With Estimates

A report released by the Commerce Department on Friday showed retail sales in the U.S. increased in line with economist estimates in the month of July. The Commerce Department said retail sales climbed by 0.5 percent in July after jumping by an upwardly revised 0.9 percent in June.

RTTNews | vor 3Std 6 Minuten

U.S. Industrial Production Edges Slightly Lower In July

A report released by the Federal Reserve on Friday showed a modest decrease by U.S. industrial production in the month of July.

RTTNews | vor 3Std 14 Minuten

EURUSD	1.17037	GBPUSD	1.35573	AUDUSD	0.6512
USDJPY	147.141	USDCAD	1.38105	USDCHF	0.80658