Bay Street Seen Opening Higher; U.S. PCE Index Reading In Focus

RTTNews | 509 दिनों पहले
Bay Street Seen Opening Higher; U.S. PCE Index Reading In Focus

(RTTNews) - Higher U.S. and Canadian futures, and firm commodity prices point to a positive opening for stocks on Bay Street Friday morning.

The focus will be on the core Personal Consumption Expenditures (PCE) Price Index reading, the U.S. Federal Reserve's preferred inflation measure, due at 8:30 AM ET.

On the Canadian economic front, a report from the Canadian Federation of Independent Business said its business barometer in Canada, an index reflecting 12-month forward expectations for business performance in the country, dropped to 47.5 in April, from an upwardly revised 52.9 in the prior month.

In earnings news, Imperial Oil Limited (IMO.TO) reported first-quarter net income of $1,195 million, compared to net income of $1,248 million in the year-ago quarter.

TFI International Inc (TFII.TO) reported first quarter net income of $92.8 million compared to $111.9 million in Q1 2023. Adjusted net income came in at $105.5 million in the first quarter of 2024, compared to $116.5 million a year earlier.

Eldorado Gold Corporation (ELD.TO) reported adjusted net earnings of $55.2 million for the first quarter of 2024, compared to adjusted net earnings of $16.7 million in the year-ago quarter.

After opening negative gap and plunging deeper into the red Thursday morning, the Canadian market recovered gradually and eventually ended slightly up.

The benchmark S&P/TSX Composite Index, which dropped about 235 points to 21,638.37 in early trades, rallied to 21,920.15 before settling at 21,885.38, gaining 11.66 points or 0.05%.

Asian stocks gained on Friday as Microsoft and Google's parent company Alphabet both beat Wall Street's first quarter expectations, offsetting Meta Platforms' disappointing forward guidance.

European stocks are up in positive territory on fairly strong results from Microsoft and Alphabet, and on ECB survey that showed Euro zone consumers lowered their expectation for inflation over the next 12 months in March.

In commodities, West Texas Intermediate Crude oil futures are up $0.71 or 0.85% at $84.28 a barrel.

Gold futures are gaining $14.80 or 0.63% at $2,357.30 an ounce, while Silver futures are up $0.262 or 0.96% at $27.615 an ounce.

read more
European Economic News Preview: Bank Of England To Hold Rate

European Economic News Preview: Bank Of England To Hold Rate

The monetary policy announcement from the Bank of England is the top economic event due on Thursday. The BoE is widely expected to hold its benchmark bank rate at 4.00 percent after a quarter-point reduction in August. The bank had lowered the rate five times since August 2024 and took it to the lowest since early 2023.
RTTNews | 2घंटे 3 मिनट पहले
Australian Market Extends Early Losses In Mid-market

Australian Market Extends Early Losses In Mid-market

The Australian market is extending its early losses in mid-market moves on Thursday, adding to the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,800 level, as markets digested a softer-than-expected domestic jobs report, with weakness across most sectors led by mining and energy stocks.
RTTNews | 3घंटे 50 मिनट पहले
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Thursday, following the mixed cues from Wall Street overnight, after the US Fed delivered a widely expected quarter point interest rates cut to 4.0 percent, citing a shift in the balance of risks. The latest projections from Fed officials also suggest they expect the central bank to lower rates two more times this year.
RTTNews | 4घंटे 4 मिनट पहले
Sensex, Nifty Seen Higher At Open

Sensex, Nifty Seen Higher At Open

Indian shares look set to open on a positive note on Thursday, tracking mixed cues from global markets.
RTTNews | 4घंटे 42 मिनट पहले
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday, reversing the losses in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 45,000 mark, with gains across most sectors led by exporters and technology stocks.
RTTNews | 5घंटे 33 मिनट पहले
Australian Market Modestly Lower

Australian Market Modestly Lower

The Australian market is trading modestly lower on Thursday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,800 level, with weakness across most sectors led by mining and energy stocks.
RTTNews | 6घंटे 14 मिनट पहले