Bay Street Headed For Weak Start

RTTNews | 55 दिनों पहले

(RTTNews) - Canadian shares are likely to open on a negative note Friday morning, tracking weak European stocks and lower crude oil prices. Concerns about tariffs may weigh down on sentiment. Trading volumes are likely to remain thin as the U.S. market is closed for Independence Day holiday.

U.S. President Donald Trump announced that his administration will start issuing formal letters to several major economies outlining new U.S. export tariff rates as early as Friday.

Trump said the U.S. will forgo lengthy negotiations with over 170 countries and instead unilaterally impose flat tariff rates ranging between 20% and 30%.

Data on Canadian manufacturing and services sector activity, due at 9:30 AM ET, may provide some direction to the market.

On Thursday, Canadian stocks showed a strong move to the upside during trading to set new record highs.

The benchmark S&P/TSX Composite Index climbed to an intraday high of 27,039.30, and ended the session slightly below that level at 27,034.26, gaining 164.60 points or 0.61%.

Asian stocks ended mixed on Friday as U.S. President Donald Trump's tariff threats ahead of the July 9 deadline offset robust U.S. jobs data.

Traders also reacted to the passage of Trump's tax-cut and spending bill, which is set to massively widen the U.S.' budget deficit and leave an added 12 million Americans without health insurance.

The 218-214 vote in the House Thursday sends the legislation to Trump, who expects to sign the bill on Friday at a 4 p.m. ceremony at the White House.

The dollar retraced earlier gains after Trump during late Thursday evening said that his administration will start sending letters to countries starting Friday to identify the tariff rates they would face on imports to the United States.

The major European markets are down in negative territory amid renewed concerns about Trump administration's tariff moves, following the U.S. President's threat to impose reciprocal tariffs from early August.

In commodities trading, West Texas Intermediate crude oil futures are down $0.43 or 0.64% at $66.57 a barrel.

Gold futures are up $3.50 or 0.1% at $3346.40 an ounce, while Silver futures are gaining $0.051 or 0.13% at $37.135 an ounce.

Walgreen Co. Now Operating As Private Standalone Company Under Sycamore Partners

Independent retail pharmacy Walgreen Co. announced Thursday it is now operating as a private standalone company following the closure of the acquisition of Walgreens Boots Alliance, Inc. (WBA) by New York-based private equity firm Sycamore Partners.

RTTNews | 24 मिनटों पहले

U.S. Economy Surges More Than Previously Estimated In Q2

The U.S. economy grew by more than previously estimated in the second quarter of 2025, according to revised data released by the Commerce Department on Thursday. The report said real gross domestic product shot up by 3.3 percent in the second quarter compared to the previously reported 3.0 percent surge. Economists had expected the jump in GDP to be upwardly revised to 3.1 percent.

RTTNews | 36 मिनटों पहले

U.S. Weekly Jobless Claims Dip Roughly In Line With Estimates

A report released by the Labor Department on Thursday showed a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 23rd. The Labor Department said initial jobless claims dipped to 229,000, a decrease of 5,000 from the previous week's revised level of 234,000. Economists had expected jobless claims to slip to 230,000.

RTTNews | 42 मिनटों पहले

Switzerland Logs Weaker Growth, Trims 2026 Outlook

The Swiss economy expanded modestly in the second quarter, as estimated earlier, and higher U.S. tariffs are set to push down growth prospects, the State Secretariat for Economic Affairs said Thursday. Gross domestic product grew 0.1 percent from the first quarter, unchanged from the flash estimate. Growth softened notably from 0.7 percent in the first quarter.

RTTNews | 1घंटे 47 मिनट पहले