Bay Street Likely To Open On Positive Note

RTTNews | hace 327

(RTTNews) - Higher crude oil and bullion prices point to a positive start for the Canadian market on Thursday. Investors are likely to track quarterly earnings updates from Canadian and U.S. companies.

Rogers Communications Inc. (RCI.A.TO) reported adjusted net income of $762 million for the quarter ended September 30, 2024, compared with $679 million in the year-ago quarter.

FirstService Corporation (FSV.TO) reported operating earnings of $125.9 million for the third-quarter of this financial year, up from $73.6 million in the year-ago quarter.

Mullen Group (MTL.TO) reported a net income of $38.3 million for the quarter ended September 30, 2024, compared with $39.1 million a year ago.

Celestica Inc (CLS.TO) reported revenue of $2.50 billion for the third quarter of 2024, up 22% from $2.04 billion in the corresponding quarter of the previous year.

The Canadian market ended weak on Wednesday, hurt by losses in technology, energy and materials stocks. Despite the Bank of Canada's decision to cut interest rates by 50 basis points, the mood in the market remained bearish amid concerns about the outlook for economic growth and due to persisting Middle East tensions.

The benchmark S&P/TSX Composite Index ended down 143.08 points or 0.58% at 24,573.62, about 20 points off the day's low of 24,453.40. The index remained in negative territory right through the day's session.

The Canadian central bank cut rates by a half point today, as widely expected, reducing its target for the overnight rate by 50 basis points to 3.75%, with the Bank Rate at 4% and the deposit rate at 3.75%.

Asian stocks ended mostly lower on Thursday as rising yields on uncertainty over the U.S. election outcome weighed on the tech sector. Tesla's forecast-beating earnings provided some comfort for investors, helping limit regional losses.

European stocks are up in positive territory, reacting to strong earnings from a slew of companies, and dovish comments from Bank of England Governor Andrew Bailey.

In commodities, West Texas Intermediate crude oil futures are up $0.50 or 0.7% at $71.27 a barrel.

Gold futures are gaining $20.50 or 0.75% at $2,749.90 an ounce, while Silver futures are up $0.421 or 1.25% at $34.260 an ounce.

U.S. Homebuilder Confidence Holds Steady In September

Homebuilder confidence in the U.S. held steady in the month of September, according to a report released by the National Association of Home Builders on Tuesday. The report said the NAHB/Wells Fargo Housing Market Index came in at 32 in September, unchanged from August. Economists had expected the index to inch up to 33.

RTTNews | hace 26 minutos

U.S. Industrial Production Unexpectedly Inches Slightly Higher In August

Industrial production in the U.S. unexpectedly edged slightly higher in the month of August, according to a report released by the Federal Reserve on Tuesday. The Fed said industrial production crept up by 0.1 percent in August after falling by a downwardly revised 0.4 percent in July. Economists had expected industrial production to slip by 0.1 percent.

RTTNews | hace 44 minutos

U.S. Import Prices Unexpectedly Increase In August

A report released by the Labor Department on Tuesday showed import prices in the U.S. unexpectedly increased in the month of August. The Labor Department said import prices rose by 0.3 percent in August after inching up by a downwardly revised 0.2 percent in July. Economists had expected import prices to edge down by 0.1 percent.

RTTNews | hace 1h 0min

Canadian Market Drifts Lower In Cautious Trade

The Canadian market is down in negative territory Tuesday morning, as data showing an increase in the nation's consumer price inflation dimmed the extent of rate cuts this year although the Canadian central bank is widely expected to lower interest rate by 25 basis points on Wednesday.

RTTNews | hace 1h 26min

U.S. Retail Sales Climb 0.6% In August, Much More Than Expected

The Commerce Department released a report on Tuesday showing retail sales in the U.S. rose by much more than expected in the month of August. The report said retail sales climbed by 0.6 percent in August, matching an upwardly revised increase in July. Economists had expected retail sales to inch up by 0.2 percent compared to the 0.5 percent growth originally reported for the previous month.

RTTNews | hace 2h 27min

U.S. Industrial Production Unexpectedly Inches Up 0.1% In August

Industrial production in the U.S. unexpectedly edged slightly higher in the month of August, according to a report released by the Federal Reserve on Tuesday.

RTTNews | hace 3h 53min

Eurozone Industrial Production Recovers In July

Eurozone industrial production recovered at a moderate pace in July due to the rebound in consumer and capital goods output despite tariff threats, official data showed Tuesday. Industrial production registered a monthly growth of 0.3 percent, in contrast to the 0.6 percent decrease in June, Eurostat reported. However, the rate was slightly weaker than the forecast of 0.4 percent.

RTTNews | hace 4h 20min

U.S. Import Prices Unexpectedly Rise 0.3% In August

A report released by the Labor Department on Tuesday showed import prices in the U.S. unexpectedly increased in the month of August.

RTTNews | hace 4h 35min

EURUSD	1.18708	GBPUSD	1.36553	AUDUSD	0.66838
USDJPY	146.332	USDCAD	1.374	USDCHF	0.78592