Bay Street Looks Headed For Bright Start

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(RTTNews) - Canadian shares are set to open on a firm note Friday morning, tracking positive global markets and higher commodity prices.

Investors will be reacting to Canadian jobs data.

Data on Canadian employment for the month of August is due at 8:30 AM ET.

The Canadian economy shed 30,600 jobs in July of 2022, extending the 43,200 cut from the previous month. The unemployment rate in Canada was unchanged at 4.9% in July of 2022, the lowest on record and below market expectations of 5%.

In earnings news, Dollarama Inc. (DOL.TO) said its diluted net earnings per common share increased by 37.5% to $0.66 in the second quarter from $0.4 a year ago.

Despite hawkish comments from Fed Chair Jerome Powell that signaled aggressive rate hikes in the coming months, and the European Central Bank's sharp 75-basis points interest rate hike, Canadian stocks moved higher on Thursday.

The benchmark S&P/TSX Composite Index ended with a gain of 171.56 points or 0.89% at 19,413.00.

Asian stocks climbed higher on Friday as investors digested Federal Reserve Chair Jerome Powell and ECB President Christine Lagarde's comments advocating for higher rates to combat runaway inflation.

Chinese shares finished notably higher as data showed inflation slowed more than expected in August.

European stocks are sharply higher today, a day after the European Central Bank (ECB) raised interest rates by a record 75 basis points and signaled further hikes to tame runaway inflation.

The ECB must raise interest rates further to prevent record euro-zone inflation from spilling over into wages, Governing Council member Klaas Knot said.

The Bank of England on Friday said it would postpone its September Monetary Policy Committee meeting by one week following the death of Queen Elizabeth II.

In commodities trading, West Texas Intermediate Crude oil futures are up $1.35 or 1.62% at $84.89 a barrel.

Gold futures are gaining $12.60 or 0.75% at $1,732.80 an ounce, while Silver futures are up $0.118 or 0.64% at $18.560 an ounce.

Rebound Anticipated For Taiwan Stock Market

The Taiwan stock market on Friday snapped the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 23,760-point plateau, although it's likely to bounce higher again on Monday.

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Singapore Stock Market May See Additional Support On Monday

The Singapore stock market has climbed higher in four straight sessions, improving more than 65 points or 1.5 percent along the way. The Straits Times Index now sits just above the 4,250-point plateau and it's got a strong lead again for Monday's trade.

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Malaysia Stock Market Likely To Crack Resistance At 1,600 Points

The Malaysia stock market has moved higher in two straight sessions, collecting almost 10 points or 0.7 percent along the way. The Kuala Lumpur Composite Index now sits just shy of the 1,600-point plateau and it's expected to open to the upside again on Monday.

RTTNews | il y a 1h 19min