Bay Street Likely To Open On Negative Note

RTTNews | hace 836
Bay Street Likely To Open On Negative Note

(RTTNews) - Lower U.S. and Canadian futures and falling crude oil prices point to a negative start for Canadian shares on Monday.

Higher bullion prices might push up materials shares and limit market's downside.

Rising concerns over the fallout from the Silicon Valley Bank (SVB) collapse are weighing on sentiment, despite a statement from the Treasury, Federal Reserve and the FDIC that they would "fully protect" depositors with funds in the Silicon Valley Bank.

In addition, Signature Bank, a New York bank, was also closed by regulators over the weekend.

In Canadian company news, Ivanhoe Mines Ltd. (IVN.TO) reported a net profit of $37 million for the fourth-quarter of 2022, compared with a net profit of $24 million a quarter earlier.

Agnico Eagle Mines Limited (AEM), a Canadian gold miner, said on Monday that it has appointed Jamie Porter as Executive Vice President, Finance, and Chief Financial Officer, with effect from May 1. Porter will succeed David Smith, who will retire on April 28.

The Canadian market ended sharply lower on Friday as worries about the potential fallout from the implosions of Silicon Valley Bank and Silvergate Capital triggered widespread selling.

For the second successive day, all the sectoral indices ended in the red. The benchmark S&P/TSX Composite Index ended with a loss of 311.80 points or 1.55% at 19,774.92, the lowest close since early January 2022.

Asian stocks ended mixed on Monday as regulators from across the world moved to assuage investor concerns of a global ripple effect coming from the United States.

China's Shanghai Composite Index jumped 1.2% as Beijing surprised markets by retaining the head of the central bank and finance minister in their posts, prioritizing continuity during a period of uncertainty in the world's second-largest economy.

European stocks are down sharply due to heavy selling in the banking sector on concerns over the fallout from the Silicon Valley Bank (SVB) collapse.

In commodities trading, West Texas Intermediate Crude oil futures are down $3.70 or 4.9% at $72.98 a barrel.

Gold futures are up $37.00 or about 2% at $1,904.20 an ounce, while Silver futures are gaining $1.159 or 5.65% at $21.665 an ounce.

read more
Swiss Market Fails To Hold Early Gains, Settles Flat

Swiss Market Fails To Hold Early Gains, Settles Flat

Despite staying positive till more than a couple of hours past noon, the Switzerland market ended flat on Thursday, with stocks suffering a mild setback in late afternoon trade. The mood was a bit cautious with investors looking for directional clues.
RTTNews | hace 10 minutos
European Stocks Close Mostly Higher

European Stocks Close Mostly Higher

European stocks closed higher on Thursday, reacting to the positive developments on the geopolitical front amid easing tensions between Israel and Iran, and on news about NATO increasing its defense spending target from 2% to 5% of GDP over the next ten years.
RTTNews | hace 29 minutos
U.S. Pending Home Sales Unexpectedly Rebound In May

U.S. Pending Home Sales Unexpectedly Rebound In May

The National Association of Realtors released a report on Thursday showing an unexpected rebound by pending home sales in the U.S. in the month of May. NAR said its pending home sales index jumped by 1.8 percent to 72.6 in May after tumbling by 6.1 percent to a revised 71.3 in April.
RTTNews | hace 3h 38min
U.S. Economy Shrinks More Than Previously Estimated In Q1

U.S. Economy Shrinks More Than Previously Estimated In Q1

Revised data released by the Commerce Department on Thursday showed the U.S. economy shrank by more than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product fell by 0.5 percent in the first quarter compared to the previously reported 0.2 percent dip. Economists had expected the decrease by GDP to be unrevised.
RTTNews | hace 3h 41min
U.S. Durable Goods Orders Soar 16.4% In May, Much More Than Expected

U.S. Durable Goods Orders Soar 16.4% In May, Much More Than Expected

New orders for U.S. manufactured durable goods spiked by much more than expected in the month of May, according to a report released by the Commerce Department on Thursday. The report said durable goods orders soared by 16.4 percent in May after tumbling by a revised 6.6 percent in April.
RTTNews | hace 4h 5min
U.S. Weekly Jobless Claims Unexpectedly Dip To 236,000

U.S. Weekly Jobless Claims Unexpectedly Dip To 236,000

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits unexpectedly fell in the week ended June 21st. The Labor Department said initial jobless claims dipped to 236,000, a decrease of 10,000 from the previous week's revised level of 246,000.
RTTNews | hace 4h 32min
Acuity Q3 Profit Weak, Adj. Profit Beats Street; Stock Gains

Acuity Q3 Profit Weak, Adj. Profit Beats Street; Stock Gains

Shares of Acuity Inc. were gaining around 6 percent in the early morning trading on the NYSE after the industrial technology company's third-quarter profit beat market estimates with strong year-over-year growth in net sales. The third-quarter profit on a reported basis, meanwhile, was lower than last year, hit by a significant charge related to Lighting segment.
RTTNews | hace 4h 38min
Bay Street Likely To Open On Positive Note

Bay Street Likely To Open On Positive Note

Higher Canadian and U.S. futures and firm oil and metal prices point to a positive start for Canadian stocks on Thursday. However, a lack of significant positive triggers could cap market's upside.
RTTNews | hace 5h 29min