Bay Street Likely To Open Mixed; Inflation Data In Focus

RTTNews | il y a 1028

(RTTNews) - Canadian shares look headed for a mixed start on Tuesday if commodity prices are any indication. Crude oil prices are climbing higher, while bullion prices are weak.

However, investors are likely to react to the consumer price inflation data, due at 8:30 AM ET. The data is likely to show inflation dropped to an annual rate of 6.4% in December.

Canada's annual inflation rate was 6.8% in November of 2022, down slightly from the 6.9% reading in the prior month.

Core inflation rate in Canada held steady at 5.8% in November, the same as in October.

Data on Canadian housing starts for the month of December is also due at 8:30 AM ET. Housing starts edged down 0.2% in November from a month earlier.

Earnings updates from Goldman Sachs and Morgan Stanley are also likely to impact the mood in the market.

The Canadian stock market ended marginally up after moving in a tight range on Monday, extending gains to a seventh straight session. Healthcare, consumer staples and technology stocks were among the notable gainers.

Easing concerns about interest rates after last week's inflation data from the Labor Department showed consumer prices in the U.S. continued to support the market. Data on Canadian consumer prices for the month of December is due on Tuesday.

The benchmark S&P/TSX Composite Index, which opened slightly down at 20,324.38 but climbed to a high of 20,435.11 around late morning, ended the session with a gain of 30.23 points or 0.15% at 20,390.33, the highest closing level in nearly 7 weeks.

Asian stocks turned in a mixed performance on Tuesday as China growth data beat forecasts and caution prevailed ahead of a Bank of Japan policy meeting.

Chinese shares ended slightly lower as data showed GDP grew an annual 3 percent in 2022 despite various growth pressures.

European stocks are down slighty in cautious trade with investors digesting weak GDP data from China and reacting to earnings updates from Goldman Sachs and Morgan Stanley.

In commodities trading, West Texas Intermediate Crude oil futures for February are up $0.57 or 0.71% at $80.43 a barrel.

Gold futures are down $10.30 or 0.54% at $1,911.40 an ounce, while Silver futures are lower by $0.192 or 0.79% at $24.180 an ounce.

European Economic News Preview: UK Unemployment Data Due

Unemployment from the UK and economic sentiment from Germany are the major economic reports due on Tuesday. At 2.00 am ET, the Office for National Statistics publishes UK labor market statistics. The jobless rate is forecast to rise to 4.9 percent in the three months to September from 4.8 percent in the preceding period.

RTTNews | il y a 1h 30min

European Shares Seen Higher As US Senate Passes Bill To End Shutdown

European stocks are seen opening on a positive note Tuesday after the U.S. Senate passed the funding bill to end the longest-running government shutdown in history.

RTTNews | il y a 2h 39min

Sensex, Nifty Modestly Lower In Cautious Trade

Indian shares were a tad lower on Tuesday despite firm cues from global markets and comments from U.S. President Donald Trump that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.

RTTNews | il y a 3h 50min

Australian Market Slips To Losses In Mid-market

The Australian stock market is slipping in to the red in mid-market trading on Tuesday after early gains, reversing some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,850 level, with weakness in financial and technology stocks partially offset by gains in mining and energy stocks.

RTTNews | il y a 4h 52min

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders react to further progress made towards ending the US government shutdown, with the US Senate commencing a series of votes on a package to reopen the government and end the longest shutdown on record. Asian markets closed mostly higher on Monday.

RTTNews | il y a 5h 12min

Sensex, Nifty Seen Opening Higher On Trade Deal Hopes

Indian shares look set to open on a positive note Tuesday after U.S. President Donald Trump indicated he would reduce the tariff rate on Indian goods "at some point," and that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.

RTTNews | il y a 5h 44min

Thai Shares Expected To Open To The Upside On Tuesday

The Thai stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had dropped more than 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,305-point plateau and it's called higher again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

RTTNews | il y a 6h 15min

Rebound Tipped For Indonesia Stock Market

The Indonesia stock market on Monday snapped the three-day winning streak in which it had gained almost 160 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,390-point plateau although it's expected to see renewed support on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The JCI finished slightly lower on Monday as losses from the financials and telecoms were mitigated by support from the resource stocks and a mixed picture from the cement companies. For the day, the index eased 3.35 points or 0.04 percent to finish at the daily low of 8,391.24 after peaking at 8,478.15. Among the actives, Bank CIMB Niaga shed 0.57 percent, while Bank Mandiri fell 0.42 percent, Bank Danamon Indonesia collected 0.40 percent, Bank Negara Indonesia tumbled 1.78 percent, Bank Central Asia skidded 1.15 percent, Bank Rakyat Indonesia slumped 1.26 percent, Indosat Ooredoo Hutchison plunged 3.72 percent, Indocement improved 0.78 percent, Semen Indonesia plummeted 4.17 percent, Indofood Sukses Makmur slipped 0.35 percent, United Tractors rallied 1.36 percent, Energi Mega Persada surged 4.60 percent, Astra Agro Lestari dropped 0.96 percent, Aneka Tambang rose 0.34 percent, Vale Indonesia eased 0.22 percent, Timah soared 6.85 percent, Bumi Resources spiked 6.38 percent and Astra International was unchanged. The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

RTTNews | il y a 6h 45min

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