Bay Street Seen Opening On Cautious Note

RTTNews | 828天前

(RTTNews) - The Canadian market is likely to open on a cautious note on Tuesday, tracking weak European stocks and lower crude oil prices.

The focus is on U.S. inflation data, due later in the week. The reports on U.S. consumer and producer price inflation, which are due to be released on Wednesday and Thursday, respectively, could have a significant impact on the outlook for interest rates.

Fed Chair Jerome Powell said following last week's rate hike that the central bank would take a "data-dependent approach" to future monetary policy decisions.

Weak trade data from China is also likely to weigh on sentiment.

In earnings news, George Weston Limited (WN.TO) reported adjusted net earnings of $282 million for the first quarter of 2023, flat compared to the same period in 2022.

Keyera Corporation (KEY.TO) reported first-quarter net earnings of $138 million, compared with $114 million in the year-ago quarter.

SNC-Lavalin Group (SNC.TO) reported first-quarter net ncome of 28.4 million, or $0.16 per share, compared to $24.8 million, or $0.14 per share in the first quarter of 2022.

The Canadian market ended modestly higher on Monday, led by gains in technology and consumer directory sectors. The mood was cautious as investors awaited more data for directional clues.

The benchmark S&P/TSX Composite Index ended with a gain of 43.12 points or 0.21% at 20,585.15 after moving in a tight range between 20,544.15 and 20,627.77.

Asian stocks ended mostly lower today on disappointing trade data from China. Also, investors were wary of making significant moves ahead of key U.S. inflation numbers.

European are down firmly in negative territory as investors await key inflation data from the U.S. for clues about the Federal Reserve's likely stance on policy tightening.

In commodities, West Texas Intermediate Crude oil futures are down $0.77 or 1.07 percent at $72.39 a barrel.

Gold futures are gaining $6.20 or 0.32% at $2,039.40 an ounce, while Silver futures are down $0.074 or 0.29% at $25.760 an ounce.

U.S. Producer Price Growth Far Exceeds Estimates In July

Producer prices in the U.S. increased by much more than expected in the month of July, the Labor Department revealed in a report released on Thursday. The Labor Department said its producer price index for final demand shot up by 0.9 percent in July after coming in unchanged in June. Economists had expected producer prices to rise by 0.2 percent.

RTTNews | 1小時26分鐘前

U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

The Labor Department released a report on Thursday unexpectedly showing a modest decrease by first-time claims for U.S. unemployment benefits in the week ended August 9th. The report said initial jobless claims dipped to 224,000, a decrease of 3,000 from the previous week's revised level of 227,000.

RTTNews | 1小時58分鐘前

UK GDP Rises More Than Expected

The UK economy expanded more than expected in the second quarter but the overall growth softened as US frontloading propelled growth at the start of the year. Gross domestic product expanded 0.3 percent in the second quarter largely driven by growth in the service sector, the Office for National Statistics reported Thursday. Although the rate was stronger than the expected growth of 0.1 pe

RTTNews | 2小時39分鐘前

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note Thursday morning, reacting to data showing a bigger than expected increase in U.S. producer price index, and mixed batch of earnings data from Canada. Oil prices are up, while metals are exhibiting weakness.

RTTNews | 3小時11分鐘前

S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

S&P Global Ratings upgraded India's sovereign ratings on Thursday citing a buoyant economic growth, enhanced monetary policy conditions and the government's fiscal consolidation commitment, while the higher tariffs from the U.S. administration is estimated to have only limited impact on the economy. India's sovereign credit ratings were raised to 'BBB' from 'BBB-', with a 'stable' outlook.

RTTNews | 3小時14分鐘前

U.S. Producer Prices Jump Much More Than Expected In July

EURUSD	1.16434	GBPUSD	1.353	AUDUSD	0.64887
USDJPY	147.713	USDCAD	1.3808	USDCHF	0.80815

Bay Street Seen Opening On Cautious Note

U.S. Producer Price Growth Far Exceeds Estimates In July

U.S. Weekly Jobless Claims Unexpectedly Dip To 224,000

UK GDP Rises More Than Expected

Bay Street Likely To Open On Mixed Note

S&P Sees Limited Impact From U.S. Tariffs On Indian Economy, Raises Ratings

U.S. Producer Prices Jump Much More Than Expected In July

U.S. Weekly Jobless Claims Unexpectedly Edge Modestly Lower

Pound Rises On Upbeat U.K. GDP Data