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South Korea Shares May Open Under Pressure Again On Tuesday
The South Korea stock market on Monday snapped the two-day winning streak in which it had surged almost 120 points or 5 percent. The KOSPI market now rests just above the 2,590-point plateau and it's expected to open under water again on Tuesday.
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TSX Ends Notably Lower On Powell's Comments, Weak Bullion Prices
Canadian stocks tumbled on Monday as hawkish comments from Fed Chair Jerome Powell, and weak bullion prices rendered the mood bearish.
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Australia Rate Decision On Tap For Tuesday
The Reserve Bank of Australia will wrap up its monetary policy meeting on Tuesday and then announce its decision on interest rates, highlighting a modest day for Asia-Pacific economic activity. The RBA is widely expected to keep its benchmark lending rate unchanged at 4.35 percent.
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Dollar Rises Against Major Counterparts As Early Rate Cut Hopes Fade
The U.S. dollar climbed higher on Monday, gaining ground against is major counterparts, as prospects of an interest rate cut faded following recent upbeat economic data, and Fed Chair Jerome Powell's hawkish comments.
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Swiss Market Ends On Positive Note
Despite a couple of setbacks, once around mid morning, and another just before the final hour of the day's session, the Switzerland market ended modestly higher on Monday.
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Major European Markets Close Slightly Down After Lackluster Session
European stocks closed slightly lower on Monday after a somewhat lackluster session as investors stayed wary of creating fresh positions amid fading hopes of an early interest rate cut by the Federal Reserve and a few other central banks.
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Canadian Market Firmly Down In Negative Territory On Widespread Selling
The Canadian market is down firmly in negative territory at noon on Monday with stocks from across several sectors reeling under sustained selling pressure.
Fading hopes of an early rate cut by the Federal Reserve following recent upbeat economic data and hawkish comments from top officials weigh significantly on the market.
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more news
U.S. Service Sector Growth Accelerates More Than Expected In January
The Institute for Supply Management released a report on Monday showing U.S. service sector growth accelerated by more than expected in the month of January. The ISM said its services PMI climbed to 53.4 in January from a downwardly revised 50.5 in December, with a reading above 50 indicating growth in the sector. Economists had expected the index to rise to 52.0.
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SEI Appoints Sean Denham To Succeed Dennis McGonigle As CFO
SEI Investments (SEIC) announced Monday the appointment of Sean Denham as an Executive Vice President and Chief Financial Officer, reporting to CEO Ryan Hicke. Denham's employment will begin on March 18, 2024.
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MIRA Pharmaceuticals Partners Pharmaseed To Conduct Pre-Clinical Studies On Ketamir
MIRA Pharmaceuticals, Inc. (MIRA) on Monday announced a partnership with Pharmaseed Ltd., a clinical research organization or CRO, to research and evaluate Ketamir-2, a novel ketamine analog with improved gastrointestinal bioavailability under investigation to potentially be an orally delivered ultra-rapid antidepressant.
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Bay Street Seen Opening On Weak Note
Canadian shares look headed for a weak start Monday morning, tracking lower crude oil and bullion prices. Fading hopes of an early interest-rate cut by the Federal Reserve may also weigh on sentiment.
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Caterpillar Q4 Profit Tops Estimates
Caterpillar, a manufacturer of mining and construction equipment, reported Monday a profit for the fourth quarter that nearly doubled from last year, primarily due to favorable price realization and revenue growth. Adjusted earnings per share topped analysts' estimates, while quarterly revenues missed it by a whisker.
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Pound Slips Against Majors
The pound declined against its major counterparts in the European session on Monday.
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