Bay Street Seen Opening Lower

RTTNews | 794 days ago

(RTTNews) - Lower futures and weak crude oil prices point to a negative start on Bay Street on Friday.

Concerns about the outlook for interest rates may continue to weigh on the market. Central banks in the U.K., Norway and Switzerland have raised their key lending rates, and Federal Reserve Chair Jerome Powell has already signaled further tightening in the coming months.

In earnings news, Canopy Growth Corporation (WEED.TO) reported fourth-quarter net revenue of $87.5 million, up 14% compared to the net revenue the company recorded in the year-ago quarter.

On the economic front, preliminary data on Canadian manufacturing sales and wholesale sales, both for the monthof May, are due at 8:30 AM ET.

Canadian stocks ended lower on Thursday, extending the downward trend seen over the past several sessions.

The S&P/TSX Composite Index, which remained firmly down in negative territory, ended with a loss of 125.05 points or 0.6% at 19,580.90, closing lower for the fifth consecutive session.

Asian stocks ended lower on Friday a spate of rate hikes from policymakers in England, Norway and Switzerland pushed up global bond yields and revived fears of an imminent recession.

European stocks are broadly lower with investors reacting to mixed economic data from the region. Preliminary data showed business activity in Europe slowed in June. Official data from the U.K. showed retail sales logged an unexpected growth in May, rising by 0.3% in the month from a month earlier.

In commodities, West Texas Intermediate Crude oil futures are down $0.81 or 1.17% at $68.70 a barrel.

Gold futures are gaining $5.80 or 0.3% at $1,929.50 an ounce, while Silver futures are down $0.072 or 0.32% at $22.395 an ounce.

Taiwan Bourse May Hand Back Monday's Gains

The Taiwan stock market bounced higher again on Monday, one session after ending the two-day winning streak in which it had gained more than 600 points or 2.6 percent. The Taiwan Stock Exchange now rests just above the 24,275-point plateau although it's expected to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. For the day, the index surged 512.91 points or 2.16 points to finish at 24,277.38 after trading between 24,108.75 and 24,362.02. Among the actives, Mega Financial and United Microelectronics Corporation both eased 0.12 percent, while Fubon Financial jumped 1.93 percent, E Sun Financial and Formosa Plastics both sank 0.74 percent, Taiwan Semiconductor Manufacturing Company accelerated 3.08 percent, Hon Hai Precision rallied 2.47 percent, Largan Precision added 0.42 percent, MediaTek soared 3.30 percent, Novatek Microelectronics climbed 1.18 percent, Nan Ya Plastics surged 3.53 percent, Asia Cement gained 0.40 percent and Cathay Financial, CTBC Financial and Catcher Technology were unchanged.

RTTNews | 17 minutes ago

Singapore Stock Market Tipped To Open In The Red

The Singapore stock market has climbed higher in five straight sessions, improving almost 70 points or 1.6 percent along the way. The Straits Times Index now sits just above the 4,255-point plateau although investors may lock in gains on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 47 minutes ago

Rally May Stall For Malaysia Stock Market

The Malaysia stock market has moved higher in three straight sessions, collecting almost 15 points or 0.9 percent along the way. The Kuala Lumpur Composite Index now sits just above the 1,600-point plateau although it's likely to open to the downside on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1h 17min ago

Japan Stock Market May Spin Its Wheels On Tuesday

The Japan stock market has moved higher in back-to-back sessions, gathering almost 200 points or 0.5 percent along the way. The Nikkei 225 now rests just above the 42,800-point plateau although it may be stuck in neutral on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water. The Nikkei finished modestly higher on Monday following gains from the financial shares, weakness from the technology stocks and a mixed picture from the automobile companies. For the day, the index advanced 174.53 points or 0.41 percent to finish at 42,807.82 after trading between 42,681.37 and 43,201.42. Among the actives, Nissan Motor accelerated 3.15 percent, while Mazda Motor shed 0.55 percent, Toyota Motor eased 0.10 percent, Honda Motor climbed 1.01 percent, Softbank Group soared 3.53 percent, Mitsubishi UFJ Financial dipped 0.11 percent, Mizuho Financial collected 0.79 percent, Sumitomo Mitsui Financial added 0.41 percent, Mitsubishi Electric rose 0.35 percent, Sony Group slumped 1.11 percent, Panasonic Holdings lost 0.49 percent and Hitachi fell 0.24 percent.

RTTNews | 1h 32min ago

KOSPI May Run Out Of Steam On Tuesday

The South Korea stock market has tracked higher in three straight sessions, collecting almost 80 points or 2.6 percent along the way. The KOSPI now sits just shy of the 3,210-point plateau although it's due for consolidation on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 1h 47min ago

EURUSD	1.16569	GBPUSD	1.34878	AUDUSD	0.64903
USDJPY	147.033	USDCAD	1.38432	USDCHF	0.80295

Bay Street Seen Opening Lower

Taiwan Bourse May Hand Back Monday's Gains

Singapore Stock Market Tipped To Open In The Red

Rally May Stall For Malaysia Stock Market

Japan Stock Market May Spin Its Wheels On Tuesday

KOSPI May Run Out Of Steam On Tuesday

RBA Minutes On Tap For Tuesday

U.S. Dollar Climbs Against Majors

Swiss Market Ends Moderately Lower