Falling Commodity Prices Likely To Weigh On Canadian Market At Open

RTTNews | 1天前

(RTTNews) - Canadian market is likely to open on a negative note Tuesday morning, weighed down by falling crude oil and gold prices.

The mood is likely to remain cautious ahead of the monetary policy announcements from the Bank of Canada and the Federal Reserve on Wednesday. Both the central banks are expected to lower interest rates by 25 basis points.

In Canadian earnings news, Celestica Inc. (CLS.TO) reported third-quarter revenue of $3.19 billion, up 28% compared to $2.50 billion in the corresponding quarter last year.

Centerra Gold, Advantage Oil & Gas and Trican Wll Services are slated to announce their earnings today.

Bay Street settled on a weak note on Monday despite staging a strong recovery from the day's lows. A sell-off in gold stocks weighed on the market.

The benchmark S&P/TSX Composite Index, which tumbled to 30,087.48, settled at 30,275.76, down 77.31 points or 0.3% from previous close.

Asian stocks ended weak after a cautious session on Tuesday as investors locked in some profits after recent gains.

Amid global trade tensions, the Association of Southeast Asian Nations (ASEAN) and China today signed an upgraded version of their Free Trade Agreement (FTA) during a summit in Kuala Lumpur, Malaysia.

Ahead of talks between Donald Trump and Xi Jinping, Chinese Premier Li Qiang denounced "unilateralism" and said the world should not return to "the law of the jungle." Trump said en route to Japan that he was hopeful of a deal when he sees Xi on Thursday.

European stocks are turning in a mixed performance today with investors mostly reacting to corporate earnings, and awaiting the monetary policy meetings of ECB, Fed, and the Bank of Japan.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.82 or 1.36% at $60.49 a barrel.

Gold futures are down $80.10 or 2% at 3,939.60 an ounce, while Silver futures are lower by $0.259 or 0.55% at $46.515 an ounce. Copper futures are down $0.0425 or 0.82% at $5.1290 per pound.

U.S. Pending Home Sales Unexpectedly Unchanged In September

After reporting a sharp increase by pending home sales in the U.S. in the previous month, the National Association of Realtors released a report on Wednesday showing pending home sales unexpectedly came in flat in the month of September. NAR said its pending homes sales index was unchanged at 74.8 in September after surging by 4.2 percent in August.

RTTNews | 1小時18分鐘前

Bank Of Canada Cuts Interest Rates By Another Quarter Point

The Bank of Canada on Wednesday announced its widely expected decision to lower interest rates once again, cutting rates by a quarter point for the second consecutive meeting. The Canadian central bank said it reduced its target for the overnight rate by 25 basis points to 2.25 percent, with the Bank Rate at 2.5 percent and the deposit rate at 2.20 percent.

RTTNews | 1小時20分鐘前

Bay Street Likely To Open Higher; BoC, Fed Rate Announcements Eyed

Canadian stocks are likely to open on a positive note on Wednesday, tracking firm oil and metal prices. Expectations of interest rate cuts by the Bank of Canada and the Federal Reserve may also contribute to a steady open on Bay Street.

RTTNews | 2小時58分鐘前

FTSE 100 Advances As Miners, Pharma Stocks Rally

The U.K. market is up firmly in positive territory on Wednesday, led by gains in mining and pharmaceutical sectors, thanks to a rebound in metal prices and stronger than expected earnings from drug major GSK.

RTTNews | 3小時36分鐘前

Pound Slides Amid UK Fiscal Concerns

The British pound weakened against other major currencies in the European session on Wednesday, as investors expect that UK Chancellor of the Exchequer Rachel Reeves will have to make tough decisions over where to raise taxes and reduce spending in the approaching Autumn Budget.

RTTNews | 4小時5分鐘前

CAC 40 Flat In Cautious Trade Ahead Of Fed Rate Decision

French stocks are mostly subdued Wednesday morning with investors largely refraining from making significant moves while awaiting the Federal Reserve's monetary policy announcement later in the day, and looking ahead to the European Central Bank's rate decision and the meeting of U.S. President Donald Trump and his Chinese counterpart Xi Jinping on Thursday.

RTTNews | 4小時26分鐘前

Sensex, Nifty End Higher Ahead Of Fed Decision

Indian shares eked out modest gains on Wednesday ahead of a Federal Reserve interest-rate cut expected later in the day.

RTTNews | 5小時5分鐘前

DAX Moves In Tight Range; Earnings, Fed Policy Announcement In Focus

German stocks are turning in a mixed performance on Wednesday with investors mostly reacting to corporate earnings announcements and awaiting the Federal Reserve's interest rate decision due later in the day. The European Central Bank is scheduled to announce its monetary policy on Thursday.

RTTNews | 5小時27分鐘前

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