Bay Street Likely To Open On Cautious Note

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(RTTNews) - The Canadian market is likely to open on a cautious note on Tuesday with investors reacting to Canadian inflation data, and U.S. industrial production and retail sales reports.

Worries about the turmoil in the Middle East may weigh on the market.

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

The annual inflation in Canada rose to 4% in August from 3.3% in the previous month. Annual core inflation ticked up to 3.3% in August from a 2-year low of 3.2% in July and June.

Housing starts data for September is due at 8:15 AM ET, and data on new motor vehicles sales for the month of September is due at 8:30 AM ET.

The Canadian market ended on a firm note on Monday, led by gains in technology and financials sectors.

Despite concerns about the ongoing war in the Middle East, the mood remained a bit positive with investors looking ahead to key earnings updates from some top U.S. companies.

The benchmark S&P/TSX Composite Index ended with a gain of 157.94 points or 0.81% at 19,620.80.

Asian stocks recovered some recent losses on Tuesday, with Japan and South Korea leading regional gains amid intense U.S. diplomacy aimed to prevent Israel's war with Hamas spreading.

European stocks are edging lower after having recovered from a flat start. Worries about the turmoil, and inflation and interest rate concerns weigh on the markets.

In commodities, West Texas Intermediate Crude oil futures are up $0.27 or 0.3% at $86.93 a barrel.

Gold futures are up $2.30 or 0.12% at $1,936.60 an ounce, while Silver futures are gaining $0.075 or 0.33% at $22.840 an ounce.

Win Streak May Continue For China Stock Market

The China stock market has moved higher in four straight sessions, advancing more than 90 points or 2.3 percent along the way. The Shanghai Composite Index now sits just beneath the 3,920-point plateau and it has a solid lead for Tuesday's trade. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

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Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Tuesday, adding to the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,700 level, with a mixed performance across most sectors ahead of the release of The Reserve Bank of Australia's minutes of the latest monetary policy meeting.

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Higher Open Called For Taiwan Stock Market

The Taiwan stock market has moved higher in back-to-back sessions, collecting more than 680 points or 2.4 percent along the way. The Taiwan Stock Exchange now sits just beneath the 28,150-point plateau and it figures to open to the upside again on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

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Singapore Bourse May Extend Monday's Gains

The Singapore stock market on Monday wrote a finish to the four-day losing streak in which it had slipped more than 20 points or 0.4 percent. The Straits Times Index now sits just above the 4,610-point plateau and it's expected to open to the upside again on Tuesday.

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Malaysia Shares May Open To The Upside Again On Tuesday

The Malaysia stock market has moved higher in three straight sessions, advancing almost 30 points or 1.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,670-point plateau and it's expected to open in the green again on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

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Japan Stock Market May Add To Its Winnings On Tuesday

The Japanese stock market has finished higher in two consecutive trading days, soaring more than 1,400 points or 2.7 percent along the way. The Nikkei 225 now sits just above the 50,400-point plateau and it may extend its gains on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead. The Nikkei finished sharply higher on Monday following gains from the financial shares, technology stocks and automobile producers. For the day, the index jumped 895.18 points or 1.81 percent to finish at 50,402.39 after trading between 49,982.20 and 50,590.88. Among the actives, Nissan Motor improved 0.75 percent, while Mazda Motor accelerated 4.34 percent, Toyota Motor advanced 0.91 percent, Honda Motor strengthened 1.61 percent, Softbank Group soared 4.09 percent, Mitsubishi UFJ Financial jumped 1.86 percent, Mizuho Financial vaulted 1.40 percent, Mitsubishi Electric rallied 1.74 percent, Panasonic Holdings spiked 3.47 percent and Hitachi expanded 1.89 percent.

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Additional Support Called For South Korea Shares

The South Korea stock market has moved higher in two straight sessions, advancing more than 110 points or 2.7 percent along the way. The KOSPI now sits just above the 4,100-point plateau and it may add to its winnings on Tuesday. The global forecast for the Asian markets is mixed to higher, with gold, oil and technology shares likely to lead the way higher. The European markets were down and the U.S. bourses were up and the Asian markets figure to follow the latter lead.

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RBA Minutes Due On Tuesday

The Reserve Bank of Australia will on Tuesday release the minutes from its Dec. 8 monetary policy meeting, highlighting a light day for Asia-Pacific economic activity.

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EURUSD	1.17664	GBPUSD	1.34701	AUDUSD	0.66567
USDJPY	156.635	USDCAD	1.3745	USDCHF	0.79101