Bay Street Looks Set To Open On Firm Note

RTTNews | 648 days ago

(RTTNews) - Canadian shares are likely to open on a firm note on Wednesday, tracking positive global cues thanks to tamer-than-expected consumer price inflation data from the U.S. easing concerns about Fed interest rates.

Firm bullion prices may trigger strong buying in the materials section.

In earnings news, Loblaw Companies Limited (L.TO) reported third-quarter adjusted net earnings of $719 million, an increase of $56 million, or 8.4%, over the net earnings the company posted in the year-ago quarter.

Metro Inc. (MRU.TO) reported fourth-quarter net earnings of $222.2 million, up 31.7% compared to the year-ago quarter. Adjusted net earnings came in at $228.8 million, up 4.3% over its adjusted net earnings in the year-ago quarter.

On the economic front, data on Canadian manufacturing sales and wholesale sales, both for the month of September, are due at 8:30 AM ET.

The Canadian market ended on a buoyant note on Tuesday with investors picking up stocks across the board after data showing tamer than expected U.S. inflation raised hopes the Fed will not hike interest rates again.

Interest rate sensitive financials, real estate and utilities shares posted strong gains. Materials, healthcare and technology stocks rallied sharply. Several stocks from consumer discretionary, industrials and communications sectors too posted impressive gains.

The benchmark S&P/TSX Composite Index ended up 314.58 points or 1.6% at 20,023.73, rising past the 20,000 mark for the first time in almost two months.

Asian stocks ended sharply higher on Wednesday as signs of cooling U.S. inflation bolstered hopes of a pause in interest rate hikes and China reported strong industrial output and retail sales data.

European stocks are up firmly in positive territory with softer inflation data easing worries about the Fed's rate trajectory and China reporting strong industrial output and retail sales data for October.

U.K. stocks are outperforming after official data showed U.K. consumer price inflation eased sharply to a two-year low in October.

In commodities, West Texas Intermediate Crude oil futures are down $0.20 or 0.26% at $78.06 a barrel.

Gold futures are gaining $8.70 or 0.45% at $1,975.20 an ounce, while Silver futures are up $0.348 or 1.5% at $23.480 an ounce.

Australian Market Slashes Early Gains In Mid-market

The Australian stock market is slashing its early gains in mid-market trading on Monday, recouping the losses in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving up to near the 9,000.00 mark, with gains across most sectors led by mining and technology stocks. Financial stocks were the only weak spot.

RTTNews | 56 minutes ago

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Monday, following the broadly positive cues from Wall Street on Friday, on an improved outlook for interest rates after US Fed Chair Jerome Powell's dovish comments at the conference in Jackson Hole on Friday. Powell said economic risks are 'shifting' and a rate cut may be warranted. Asian markets closed mixed on Friday.

RTTNews | 1h 13min ago

Sensex, Nifty Seen Higher On Dovish Fed Comments

Indian shares are seen opening higher on Monday as traders react to Fed Chair Jerome Powell's dovish comments at the conference in Jackson Hole.

RTTNews | 1h 52min ago

Thai Shares Tipped To Open To The Upside On Monday

The Thai stock market has finished higher in two of three trading days since the end of the four-day losing streak in which it had slumped more than 40 points or 3.5 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau and it's poised to extend its gains on Monday.

RTTNews | 2h 22min ago

Japanese Market Notably Higher

The Japanese stock market is trading notably higher on Monday, extending the gains in the previous session, following the broadly positive cues from Wall Street on Friday, with the Nikkei 225 moving well above the 42,850 level, with gains across most sectors led by index heavyweights and technology stocks.

RTTNews | 2h 34min ago

Indonesia Stock Market May End Losing Streak On Monday

The Indonesia stock market has moved lower in two straight sessions, slipping almost 85 points or 1.1 percent along the way. The Jakarta Composite Index now sits just shy of the 7,860-point plateau although it's likely to stop the bleeding on Monday.

RTTNews | 2h 52min ago

Australian Market Notably Higher

The Australian stock market is notably higher on Monday, recouping the losses in the previous session, following the broadly positive cues from Wall Street on Friday. The benchmark S&P/ASX 200 index is moving well above the 9,000.00 mark, with gains across most sectors led by mining and technology stocks. Financial stocks were the only weal spot.

RTTNews | 2h 53min ago

Hong Kong Shares Tipped To Open In The Green

The Hong Kong stock market has moved higher in two of three trading days since the end of the four-day losing streak in which it had fallen more than 480 points or 1.7 percent. The Hang Seng Index now rests just beneath the 25,340-point plateau and it's expected to open higher again on Monday.

RTTNews | 3h 7min ago

EURUSD	1.1704	GBPUSD	1.35095	AUDUSD	0.64888
USDJPY	147.302	USDCAD	1.38349	USDCHF	0.80304