Bay Street Likely To Open On Mixed Note

RTTNews | 643天前

(RTTNews) - Canadian shares are likely to see a mixed start Friday morning, tracking slightly higher commodity prices and weak Asian and European markets.

Canadian jobs data is likely to make a significant impact on sentiment.

Canadian jobs data for the month of August is due at 8:30 AM ET. A report on average hourly wages in Canada is also due at 8:30 AM ET.

Employment in Canada decreased by 6,400 jobs in July. Full-time employment in Canada rose by 1,700 jobs in July following a five-month high of a 109,600 increase in June.

The unemployment rate in Canada edged higher to 5.5% in July from 5.4% in the previous month.

The Canadian stock market ended weak on Thursday, weighed down by losses in consumer staples, technology and communications sectors.

Financials, materials and consumer discretionary stocks declined as well, while shares from utilities sector posted strong gains.

The mood remained cautious amid lingering concerns about global economic slowdown and inflation.

The benchmark S&P/TSX Composite Index ended down 94.88 points or 0.47% at 20,132.08, settling lower for the third consecutive day. The index, which dropped to a low of 20,119.40 around mid morning, stayed in negative territory right through the day's session.

Asian stocks fell on Friday amid lingering worries about tighter U.S. Federal Reserve policy and slowing global growth.

The U.S. dollar edged lower in Asian trading but was on track to post its eighth weekly gain. Oil prices were muted but headed for another weekly gain on signs of tight supply.

Chinese shares fell slightly, weighted down by the gloomy trade data released the previous day and escalating Sino-U.S. tensions as Beijing eyed broadening the iPhone ban to state firms and agencies.

Japanese shares tumbled after government data showed Japan's GDP grew less than earlier estimated in the last quarter and wages slumped in July, underscoring the fragile state of the country's economy.

European stocks are weak, extending recent losses amid concerns over increasing Sino-U.S. tensions, slowing global growth and uncertainty over the path of U.S. monetary policy.

In commodities, West Texas Intermediate Crude oil futures are up $0.71 or 0.82% at $87.58 a barrel.

Gold futures are up $4.90 or 0.25% at $1,947.40 an ounce, while Silver futures are up $0.040 or 0.17% at $23.280 an ounce.

UK Economy Contracts Most Since 2023

The UK economy contracted at the fastest pace in 18 months in April as the end of stamp duty holiday, tax hike on businesses and higher US trade tariffs damped the positive momentum seen at the start of the year. Real gross domestic product declined 0.3 percent month-on-month in April, following a growth of 0.2 percent in March, the Office for National Statistics reported Thursday.

RTTNews | 18分鐘前

European Shares Edge Lower As Trade Optimism Fades

European stocks traded lower on Thursday, with U.S.-China trade tensions and escalating tensions in the Middle East keeping investors worried.

RTTNews | 51分鐘前

Asian Shares Mixed As Investors Await Details On Sino-US Trade Deal

Asian stocks turned in a mixed performance on Thursday as a new U.S.-China trade deal provided few concrete details.

RTTNews | 1小時18分鐘前

FDA Upgrades Medtronic Recall Of Newport Ventilators To Class I

Medical devices maker Medtronic plc has urged customers to discontinue clinical use of the recently recalled certain Newport branded ventilators and certain related service parts after the U.S. Food and Drug Administration upgraded it to a Class I recall. According to the FDA, a Class I recall is the most serious type of recall, a situation where the use of, or exposure to, a violative product...

RTTNews | 1小時36分鐘前