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TSX Fails To Hold Early Gains, Ends Marginally Down

RTTNews | hace 850

TSX Fails To Hold Early Gains, Ends Marginally Down

(RTTNews) - The Canadian market failed to hold early gains and ended marginally down on Monday due largely to some heavy selling at several counters in the energy sector.

Energy stocks fell as crude oil prices tumbled amid concerns about the outlook for energy demand after data showed a contraction in Chinese factory activity.

Investors also looked ahead to the Federal Reserve's monetary policy announcement, due on Wednesday. The U.S. central bank is widely expected to raise interest rates by 25 basis points.

The benchmark S&P/TSX Composite Index ended down 21.44 points or 0.1% at 20,615.10, near the day's low. The index climbed to 20,766.87 in early trades, before drifting lower as the day progressed.

Precision Drilling Corporation (PD.TO), Teck Resources (TECK.A.TO), Shopify Inc (SHOP.TO), goeasy (GSY.TO), FirstService Corporation (FSV.TO), Colliers International (CIGI.TO) and Fairfax Financial Holdings (FFH.TO) lost 1 to 2.7%.

Cargojet Inc (CJT.TO) climbed nearly 4% on strong results. The company reported a net income for $30.5 million for the quarter ended March 31, 2023, compared to a net loss of $56.4 million in the year-ago quarter.

Bombardier Inc (BBD.A.TO) surged nearly 4%. CCL Industries (CCL.B.TO), ATS Corporation (ATS.TO), Dollarama (DL.TO), BRP Inc (DOO.TO), Constellation Software (CSU.TO), Franco-Nevada Corporation (FNV.TO) and Kinaxis Inc (KXS.TO) climbed 1 to 2.5%.

On the economic front, data released by Markit Economics shows the S&P Global Manunfacturing PMI rose to 50.2 in April 2023, pointing to a marginal expansion in the manufacturing sector after posting a near three-year low of 48.6 in the previous month.

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Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | hace 18 minutos

U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | hace 1h 1min

German Unemployment Exceeds 3 Mln

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | hace 1h 31min

U.S. PCE Price Index Increased In Line With Estimates In July

U.S. PCE Price Index Increased In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday.

RTTNews | hace 1h 44min

Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus

Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus

Lower U.S. futures point to a slightly negative start on Wall Street Friday morning.

RTTNews | hace 1h 59min

Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus

Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus

Lower Canadian and U.S. futures ahead of Canadian GDP data and U.S. personal consumption expenditure report, point to a weak start on Bay Street Friday morning.

RTTNews | hace 2h 37min

Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.

RTTNews | hace 2h 45min

FTSE 100 Weak Again, Looks Headed For Weekly Loss

FTSE 100 Weak Again, Looks Headed For Weekly Loss

U.K. stocks are trading lower on Friday, losing ground for a fourth straight session, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.

RTTNews | hace 3h 17min

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