Bay Street May Open On Weak Note

RTTNews | hace 58
Bay Street May Open On Weak Note

(RTTNews) - Canadian shares look headed for negative start on Tuesday, weighed down by weak oil prices, and concerns about global trade after U.S. President Donald Trump threatened 200% tariffs on China if Beijing does not export rare-earth magnets to the U.S.

In the Oval Office on Monday, Trump spoke of Washington's strength in its standoff with Beijing and warned that if he played the "incredible cards" at his disposal, it would "destroy China."

In earnings news, The Bank of Nova Scotia (BNS.TO) reported third quarter net income of C$2.5 billion compared to C$1.9 billion, last year. Diluted earnings per share was C$1.84, compared to C$1.41.

BMO Financial Group reported a net income of $2.33 billion or $3.14 per diluted share for the quarter ended July 31, compared with a profit of $1.87 billion or $2.48 per diluted share in the same quarter last year.

CGI Inc. (GIB-A.TO) said that the State of New Jersey has awarded it a 10-year contract to improve the State Integrated Recovery Operations Management Systems (SIROMS). Under the new contract, CGI will help the state to efficiently manage the relief funds and reduce the cost of natural disaster recovery.

In economic news, data from Statistics Canada showed manufacturing sales in Canada increased 1.8% in July, after a 0.3% increase in June.

Wholesale sales likely rose by 1.3% month-over-month in July 2025, following a 0.7% increase in the previous month, according to preliminarty estimates.

The Canadian market ended weak on Monday as investors resorted to profit-taking from last week's record high close. However, selling pressure was somewhat subdued amid renewed hopes of BoC rate cuts in line with anticipated US Fed rate cuts.

The benchmark S&P/TSX Composite, which touched a low of 28,138.70 early on in the session, settled at 28,169.94, down by 163.19 points or 0.58%.

Asian stocks closed lower on Tuesday as Fed independence concerns resurfaced and investors awaited Nvidia results amid hopes it can soothe fears about AI spending.

Trade tensions also kept investors on edge, with U.S. President Donald Trump threatening 200% tariffs on China if Beijing does not export rare-earth magnets to the U.S.

The major European markets are down in negative territory today amid concerns about political uncertainty in France, and renewed trade worries.

In commodities trading, West Texas Intermediate Crude oil futures are down 1.16 or 1.76% at $63.64 a barrel.

Gold futures are gaining $10.00 or 0.3% at $3,427.50 an ounce, while Silver futures are down $0.188 or 0.49% at $38.515 an ounce.

read more
Japan Inflation Data Due On Friday

Japan Inflation Data Due On Friday

Japan will on Friday release September figures for consumer prices, highlighting a modest day for Asia-Pacific economic activity. In August, overall inflation was up 0.1 percent on month and 2.7 percent on year, while core CPI also rose an annual 2.7 percent.
RTTNews | hace 40 minutos
Canadian Market Headed For Another Strong Finish

Canadian Market Headed For Another Strong Finish

The Canadian market remains firmly up in positive territory Thursday afternoon, lifted by gains in energy, technology, materials and consumer discretionary stocks. Expectations of an interest rate cut by the Canadian central bank next week, and hopes the upcoming national budget will contain some proposals for huge funding in major initiatives.
RTTNews | hace 4h 21min
Swiss Market Ends Moderately Lower

Swiss Market Ends Moderately Lower

The Switzerland market ended on a weak note on Thursday after languishing in negative territory right through the day's session.
RTTNews | hace 4h 53min
European Markets Close Higher As Investors Focus On Earnings

European Markets Close Higher As Investors Focus On Earnings

European stocks closed higher on Thursday with investors mostly reacting to corporate earnings announcements. Concerns about geopolitical tensions and the potential impact of tariffs on global economic growth weighed a bit and limited markets' upside.
RTTNews | hace 5h 13min
U.S. Existing Home Sales Increase In Line With Estimates In September

U.S. Existing Home Sales Increase In Line With Estimates In September

A report released by the National Association of Realtors on Thursday showed existing home sales in the U.S. increased in line with economist estimates in the month of September. NAR said existing home sales jumped by 1.5 percent to an annual rate of 4.06 million in September after dipping by 0.2 percent to an annual rate of 4.00 million in August. The rebound matched expectations.
RTTNews | hace 6h 31min
Bay Street Likely To Open Higher On Firm Oil, Metal Prices

Bay Street Likely To Open Higher On Firm Oil, Metal Prices

Higher crude oil and metal prices point to a firm start for the Canadian market on Thursday. Investors are also expecting that the upcoming Canadian budget will contain some huge funding in major initiatives.
RTTNews | hace 9h 36min
Turkey Central Bank Cuts Key Rates By 100 Bps As Expected

Turkey Central Bank Cuts Key Rates By 100 Bps As Expected

Turkey's central bank reduced the pace of interest rate cuts on Thursday as inflation accelerated due to higher food prices. The Monetary Policy Committee of the Central Bank of the Republic of Turkey, headed by Yasar Fatih Karahan, decided to reduce the policy rate by 100 basis points to 39.50 percent from 40.50 percent.
RTTNews | hace 9h 54min