Bay Street Likely To Open Slightly Higher, But Weak Metal Prices Could Weigh

RTTNews | hace 3

(RTTNews) - Canadian stocks may open with a slightly positive bias on Monday with investors looking ahead to the crucial U.S. inflation data due this week. The focus is also Trump administration's trade negotiations with China, and on the upcoming talks between the U.S. and Russia, aimed at bringing an end to the war in Ukraine.

Weak metal prices could hurt materials stocks and limit market's gains.

Data on Canadian building permits for the month of June is due at 8:30 AM ET.

In earnings news, Franco-Nevada (FNV.TO) reported earnings per share of $1.24 for the second-quarter of this fiscal, compared to $0.75 a year ago.

Barrick Mining Corporation (ABX.TO) today announced the declaration of an enhanced dividend of $0.15 per share for the second quarter of 2025.

MAG Silver Corp (MAG.TO) reported record net income of $33,444 ($0.32 per share) for the second quarter of this financial year, compared to net income of $21614 ($0.21 per share) in the year-ago quarter.

The Canadian market closed roughly flat on Friday amid mixed economic data indicating a decrease in payroll employment and an unchanged jobless rate against the backdrop of the ongoing tariff war with the US.

The benchmark S&P/TSX Composite Index ended with a loss of 2.59 points or 0.01% at 27,758.68, a little over 100 points down from the day's high of 27,859.93.

US tariffs on its major trading partners took effect at midnight on Thursday and traders are focusing on the impact the tariffs are going to create in the global economic landscape.

Asian stocks edged higher in thin trade on Monday, with Japanese markets closed for a holiday.

As the August 12 deadline for a deal between the U.S. and China loomed, U.S. President Donald Trump said he hoped China would quadruple its soybean orders from the United States to reduce its trade surplus with the U.S.

In another significant development, chip giants Nvidia and AMD have reportedly agreed to give the U.S. government 15 percent of the revenues from chip sales in China, as part of a deal with the trump administration to secure export licenses.

The major European stocks are a bit subdued in cautious trade with investors awaiting some crucial economic data, and U.S. - Russia talks due this week.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.07 or 0.11% at $63.95 a barrel.

Gold futures are down $72.90 or 2.1% at $3,418.40 an ounce, while Silver futures are down $0.522 or 1.35% at $38.020 an ounce.

Canadian Market Remains In Negative Territory After Weak Start

The Canadian market, which opened on a weak note Thursday morning, continues to languish in negative territory well past noon, weighed down by losses in technology and industrials sectors.

RTTNews | hace 4h 5min

Swiss Market Ends Modestly Higher After Mild Struggle

The Switzerland market recovered after a flat start on Thursday, and after staying positive till well past noon, suffered a setback but regained some strength to eventually end the day's session modestly higher.

RTTNews | hace 4h 30min

Major European Markets Close On Positive Note

Amid expectations of a rate cut from the Federal Reserve in September, and hopes the meeting between the Presidents of the U.S. and Russia will help end the war in Ukraine, the major European markets closed on a positive note on Thursday, although the U.K. market underperformed other major markets in the region.

RTTNews | hace 4h 46min

U.S. Producer Price Growth Far Exceeds Estimates In July

Producer prices in the U.S. increased by much more than expected in the month of July, the Labor Department revealed in a report released on Thursday. The Labor Department said its producer price index for final demand shot up by 0.9 percent in July after coming in unchanged in June. Economists had expected producer prices to rise by 0.2 percent.

RTTNews | hace 7h 14min

U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 9th. The report said initial jobless claims dipped to 224,000, a decrease of 3,000 from the previous week's revised level of 227,000.

RTTNews | hace 7h 46min

UK GDP Rises More Than Expected

The UK economy expanded more than expected in the second quarter but the overall growth softened as US frontloading propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 pe

RTTNews | hace 8h 27min

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Thursday morning, reacting to data showing a bigger than expected increase in U.S. producer price index, and mixed batch of earnings data from Canada. Oil prices are up, while metals are exhibiting weakness.

RTTNews | hace 8h 58min

S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Global Ratings upgraded India's sovereign ratings on Thursday citing a buoyant economic growth, enhanced monetary policy conditions and the government's fiscal consolidation commitment, while the higher tariffs from the U.S. administration is estimated to have only limited impact on the economy. India's sovereign credit ratings were raised to 'BBB' from 'BBB-', with a 'stable' outlook.

RTTNews | hace 9h 2min

EURUSD	1.16488	GBPUSD	1.3529	AUDUSD	0.64975
USDJPY	147.761	USDCAD	1.38132	USDCHF	0.80723