Bay Street May Open With Negative Bias

RTTNews | 1148天前

(RTTNews) - Canadian shares are likely to open with a negative bias on Monday, weighed down by lower commodity prices.

With the Federal Reserve's interest rate decision due on Wednesday, the mood is likely to be largely cautious.

In earnings news, Cargojet (CJT.TO) reported third-quarter net income of $83.4 million (net loss of $1.9 million excluding warrant valuation gain) compared to net loss of $12.9 million in 2021 (net income of $23.9 million excluding warrant valuation loss).

Capstone Copper Corp (CS.TO) posted adjusted net loss of $19.3 million, or $0.02 per share in the third quarter of this financial year. The company posted adjusted net income of $35.3 million or $0.09 per share in the year-ago quarter.

The Canadian market ended on a firm note on Friday despite suffering set back after a positive start. The benchmark S&P/TSX Composite Index, which dropped to 19,282.70 early on in the session, ended with a gain of 119.08 points or 0.62% at 19,417.19. The index gained 2.95% in the week.

On the economic front, a report from Statistics Canada said the Canadian economy likely expanded by 0.4% quarter-on-quarter in Q3 of 2022, pointing to a 0.1% growth in September from August, according to preliminary estimates. Regarding August, the GDP also expanded by 0.1%, above preliminary estimates of a stall.

Asian stocks rose broadly on Monday amid renewed bets the U.S. Federal Reserve may slow the pace of interest-rate increases at its December meeting.

Chinese and Hong Kong shares underperformed regional peers as weak economic data added to concerns about slowing growth.

European stocks are turning in a mixed performance in cautious trade with data showing a surge in eurozone inflation soaring to a record high in October weighing on sentiment. Markets are also looking ahead to the Fed interest rate decision.

In commodities trading, West Texas Intermediate Crude oil futures are down $1.55 or 1.77% at $86.35 a barrel.

Gold futures are down $2.30 or 0.14% at $1,642.50 an ounce, while Silver futures are lower by $0.022 or 0.11% at $19.125 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.

RTTNews | 1小時43分鐘前

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.

RTTNews | 2小時19分鐘前

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.

RTTNews | 2小時25分鐘前

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.

RTTNews | 2小時34分鐘前

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.

RTTNews | 2小時44分鐘前

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.

RTTNews | 3小時4分鐘前

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.

RTTNews | 3小時34分鐘前

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.

RTTNews | 4小時4分鐘前

EURUSD	1.17752	GBPUSD	1.3482	AUDUSD	0.66673
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