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.

Australian Market Sharply Extends Early Gains In Mid-market

The Australian stock market is sharply expending the early gains in mid-market trading 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 8,750 level, with gains across most sectors led by financial and technology stocks.

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Indian Shares Look Headed For Another Positive Start

It's likely to be a firm start for Indian shares on Tuesday with investors set to track positive cues from Wall Street and Asian markets. A drop in oil prices is also likely to aid sentiment.

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Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the broadly positive cues from Wall Street overnight, as the markets extend their gains boosted continued strength among technology stocks. Major currencies in the region also strengthened against the US dollar. Asian markets closed mostly higher on Monday.

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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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EURUSD	1.17775	GBPUSD	1.34902	AUDUSD	0.66682
USDJPY	156.013	USDCAD	1.37362	USDCHF	0.7895