Canadian Shares Likely To Open On Positive Note

RTTNews | vor 646 Tagen

(RTTNews) - Bay Street looks headed for a positive start on Thursday, tracking firm crude oil prices and rising expectations the Federal Reserve is nearing the end of its tightening cycle.

Canadian Imperial Bank of Commerce (CM.TO) posted net income of $1,430 million in the third quarter of the current financial year, compared to $1,666 million in the corresponding quarter last year.

Laurentian Bank (LB.TO) reported third-quarter net income of $49.3 million, compared to $55.9 million in the year-ago quarter.

On the economic front, data from the Canadian Federation of Independent Business showed Canada's CFIB Business Barometer long-term optimism index increased by 0.4 points from the previous month to 54.8 in August.

The Canadian market ended marginally up on Wednesday after a somewhat lackluster session. The benchmark S&P/TSX Composite Index ended with a gain of 39.91 points or 0.2% at 20,330.32, after scaling a low of 20,309.42 and a high of 20,403.36 intraday.

Despite easing concerns about U.S. interest rates after data showed a slowdown in private sector growth and a drop in second-quarter GDP growth, the mood in the Canadian market was a bit cautious with investors awaiting Canadian GDP data.

Asian stocks ended mixed on Thursday as investors digested key data from China and Japan and looked ahead to forthcoming inflation readings in Europe and the U.S. for additional clues on the outlook for interest rates.

Weak U.S. economic data released overnight dampened the dollar's strength while oil prices were little changed in Asian trade after climbing on Wednesday on bullish inventory data and hurricane jitters.

European stocks are broadly higher amid hopes that the Federal Reserve is nearing the end of its tightening cycle, and more stimulus measures from the Chinese government.

In commodities, West Texas Intermediate Crude oil futures are up $0.78 or 0.96% at $82.41 a barrel.

Gold futures are down $1.40 or 0.07% at $1,971.60 an ounce, while Silver futures are lower by $0.159 or 0.64% at $24.575 an ounce.

U.S. Dollar Higher After Strong Jobs Data

The U.S. dollar firmed against its major counterparts in the New York session on Friday, following the release of better-than-expected nonfarm payrolls report for May.

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Swiss Market Ends Modestly Higher

After a flat start and a subsequent modest upmove, the Switzerland market turned subdued and fell into negative territory by noon on Friday, but recovered gradually to finally end the day's session on a positive note.

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European Markets Close Higher

The major European markets closed slightly higher on Friday, supported by data showing stronger-than-expected jobs growth in the U.S., and an upward revision in eurozone first-quarter GDP. Weak industrial production data from Germany and France, and persisting concerns about U.S. tariffs limited markets' upside.

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CPSC Recalls: 3.8 Mln Dumbbells, 1.7 Mln Air Conditioners, Golf Cars, CO Detectors, Casters, E-Bikes

The U.S. Consumer Product safety Commission or CPSC has announced various recalls including around 3.8 million units of dumbbells by Johnson Health Tech Trading, 1.7 million air conditioners by Midea America Corp., around 352 thousand units of Yamaha golf cars including previously recalled ones, and around 50 thousand units of Apollo America's Combination Smoke and Carbon Monoxide or CO Detectors.

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TSX Pares Some Gains After Hitting Fresh Record High

Canadian stocks are up in positive territory in late morning trade on Friday, amid slightly easing concerns about tariffs following somewhat encouraging phone calls between the U.S. President Donald Trump and Chinese Premier Xi. Investors are also digesting the nation's jobs data, as well the non-farm payrolls data from the U.S.

RTTNews | vor 1 Tagen

U.S. Job Growth Slightly Exceeds Estimates In May

Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment shot up by 139,000 jobs in May after jumping by a downwardly revised 147,000 jobs in April.

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U.S. Employment Jumps Slightly More Than Expected In May

Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday.

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Bay Street May Open Slightly Higher; U.S., Canadian Jobs Data In Focus

Higher Canadian and U.S. futures point to a slightly positive start on Bay Street Friday morning. The focus is on the crucial jobs data from Canada as well as the U.S. Lingering concerns about trade tensions may weigh on sentiment and limit market's upside.

RTTNews | vor 1 Tagen

EURUSD	1.13988	GBPUSD	1.35319	AUDUSD	0.64986
USDJPY	144.822	USDCAD	1.36936	USDCHF	0.82199

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Canadian Shares Likely To Open On Positive Note