Bay Street Seen Opening On Weak Note

RTTNews | vor 865 Tagen
Bay Street Seen Opening On Weak Note

(RTTNews) - Lower Canadian and U.S. futures, and weak cues from Asian and European markets point to a negative start on Bay Street Tuesday morning.

The focus will be on Fed Chair Jerome Powell's speech, due this morning, and the crucial U.S. inflation data, due later this week.

The Canadian market ended just modestly higher on Monday despite a steady start and a subsequent good move up north.

Optimism surrounding China's reopening, and expectations that the Federal Reserve will slow down the pace of interest rate hikes contributed to the positive spell early on in the session. But the mood turned cautious past mid afternoon following some slightly hawkish comments from a couple of Fed officials.

The benchmark S&P/TSX Composite Index ended with a gain of 42.56 points or 0.21% at 19,857.07, well off the day's high of 19,987.54.

Asian stocks ended on a mixed note Tuesday, with hawkish remarks from two Federal Reserve officials and fears of a coming recession weighing on markets.

European stocks are down in negative territory this afternoon, weighed down by comments from two Fed officials who said the central bank would likely raise interest rates to above 5% and hold them there for some time in order to keep inflation under control.

In commodities trading, West Texas Intermediate Crude oil futures for February are up $0.36 or nearly 0.5% at $74.99 a barrel.

Gold futures are down $1.30 or 0.07% at $1,876.50 an ounce, while Silver futures are down $0.266 or 1.11% at $23.605 an ounce.

read more
Euro Slips On Trump's Tariff Proposal

Euro Slips On Trump's Tariff Proposal

The euro fell against its major counterparts on Friday, as President Donald Trump proposed tariffs on imports from the European Union starting on June 1.
RTTNews | vor 16Std 40 Minuten
Swiss Market Ends Weak On Tariff Concerns

Swiss Market Ends Weak On Tariff Concerns

After opening on a positive note and staying above the flat line till about an hour past noon, the Switzerland market tumbled on Friday, hurt by U.S. President Donald Trump's threat that imports from the European Union will face 50% tariffs from June 1st.
RTTNews | vor 17Std 32 Minuten
European Stocks Closed Weak On Trump's Fresh Tariff Threat

European Stocks Closed Weak On Trump's Fresh Tariff Threat

European stocks closed on a weak note on Friday despite staging a fairly strong recovery past mid afternoon. After staying modestly higher till noon, the major European markets tumbled after U.S. President Donald Trump threatened to impose 50% tariffs on imports from the European Union from June 1st.
RTTNews | vor 17Std 48 Minuten
TSX Recovers After Early Setback; Materials Stocks Move Higher

TSX Recovers After Early Setback; Materials Stocks Move Higher

After a weak start and a subsequent drop to lower levels, the Canadian market recovered well and is down just marginally a little past noon on Friday. The early setback was due to U.S. President Donald Trump's threat that 50% tariffs will be imposed on imports from the European Union beginning June 1st.
RTTNews | vor 18Std 57 Minuten
U.S. New Home Sales Spike From Downwardly Revised Level In April

U.S. New Home Sales Spike From Downwardly Revised Level In April

The Commerce Department released a report on Friday showing new home sales in the U.S. in the month of April spiked compared to a significantly downwardly revised level in March. The report said new home sales soared by 10.9 percent to an annual rate of 743,000 in April after jumping by 2.6 percent to a downwardly revised rate of 670,000 in March.
RTTNews | vor 20Std 30 Minuten
Germany Logs Stronger Growth On Tariff Threats

Germany Logs Stronger Growth On Tariff Threats

The German economy grew at a stronger-than-estimated pace in the first quarter as higher tariff threats by the U.S. administration led to the frontloading of orders for the country's goods, lifting exports and industrial production. Gross domestic product grew 0.4 percent, which was double the initial estimate of 0.2 percent, a detailed report from Destatis revealed on Friday.
RTTNews | vor 21Std 36 Minuten
Bay Street Likely To Open On Negative Note On Tariff Concerns

Bay Street Likely To Open On Negative Note On Tariff Concerns

Canadian shares look headed for a weak start Friday morning as tariff concerns resurfaced after U.S. President Donald Trump threatened 50% tariffs on EU goods from June 1. Weak oil prices could hurt energy stocks and add to market's downside.
RTTNews | vor 22Std 43 Minuten
FTSE Pares Early Gains, Up Marginally In Cautious Trade

FTSE Pares Early Gains, Up Marginally In Cautious Trade

U.K. stocks moved higher Friday morning, reacting to data showing a notable rise in retail sales, and survey showing strong consumer confidence. However, stocks pared gains subsequently in cautious trade and the market was up just marginally a little past noon.
RTTNews | vor 23Std 45 Minuten