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.

Canadian Dollar Rises Against U.S. Dollar

The Canadian dollar advanced against the U.S. dollar in the New York session on Monday.

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Hong Kong Stock Market Tipped To Open In The Green

The Hong Kong stock market has moved higher in four straight sessions, collecting more than 560 points or 2.2 percent in that span. The Hang Seng Index now sits just above the 25,800-point plateau and it may see additional support 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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Japanese Market Slightly Higher

The Japanese stock market is trading slightly higher on Tuesday, extending the gains in the previous two sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 50,400 level, with gains in exporters and financial stocks partially offset by weakness in index heavyweights and technology stocks.

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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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EURUSD	1.17759	GBPUSD	1.34817	AUDUSD	0.66677
USDJPY	156.358	USDCAD	1.37375	USDCHF	0.79027