Bay Street Likely To Open On Firm Note

RTTNews | 837日前

(RTTNews) - Canadian shares look headed for a firm start Thursday morning, tracking positive European markets and higher commodity prices.

The market is also likely to gain amid easing fears about a U.S. recession this year. Investors will also be reacting a slew of earnings updates.

The Fed raised its interest rate by 25 basis points as widely expected. The decision to increase rates came as the Fed noted inflation remains elevated, while U.S. economic activity has been expanding at a moderate pace and job gains have been robust in recent months.

In his post-meeting press conference Fed Chair Jerome Powell said it is possible the central bank could raise rates again in September or hold steady, noting the central bank plans to take a meeting by meeting approach.

Cenovus Energy Inc. (CVE.TO) reported second-quarter net earnings of $866 million, compared with $636 million in the previous quarter.

Canadian Utilities Ltd. (CU.TO) reported adjusted net earnings of $100 million, or $0.37 per share for the second quarter, compared to $136 million, or $0.51 per share, in the second quarter of the previous year.

FirstService Corporation (FSV.TO) reported consolidated revenues of $1.12 billion for the second quarter, up 20% compared to consolidated revenues in the year-ago quarter.

ATCO Ltd. (ACO.TO) posted adjusted net earnings of $87 million ( $0.77 per share) in the second quarter, $5 million ($0.04 per share) lower compared to $92 million ($0.81 per share) in the second quarter of 2022.

On the economic front, a report from the Canadian Federation of Independent Business said Canada's CFIB Business Barometer long-term optimism index edged higher by 0.2 points from the previous month to 54.2 in July.

The Canadian market ended slightly up on Wednesday after a cautious session. Stocks turned in a mixed performance with investors reacting to quarterly earnings news, and the Federal Reserve's monetary policy statement.

The benchmark S&P/TSX Composite Index ended with a gain of 10.11 points or 0.05% at 20,561.64, after scaling a low of 20,492.43 and a high of 20,596.18 intraday.

Asian stocks gained on Thursday after the U.S. Federal Reserve reiterated its fight against inflation and Chair Jerome Powell said staff economists at the central bank no longer foresee a recession.

European stocks are notably higher with investors reacting to the Fed's interest rate decision and awaiting the ECB rate announcement. The mood is positive thanks to the Fed downplaying the prospect of a U.S. recession this year.

In commodities, West Texas Intermediate Crude oil futures are up $0.87 or 1.1% at $79.65 a barrel.

Gold futures are up $8.10 or 0.41% at $1,978.20 an ounce, while Silver futures are gaining $0.305 or 1.2% at $25.275 an ounce.

European Economic News Preview: UK Unemployment Data Due

Unemployment from the UK and economic sentiment from Germany are the major economic reports due on Tuesday. At 2.00 am ET, the Office for National Statistics publishes UK labor market statistics. The jobless rate is forecast to rise to 4.9 percent in the three months to September from 4.8 percent in the preceding period.

RTTNews | 1時28分前

European Shares Seen Higher As US Senate Passes Bill To End Shutdown

European stocks are seen opening on a positive note Tuesday after the U.S. Senate passed the funding bill to end the longest-running government shutdown in history.

RTTNews | 2時37分前

Sensex, Nifty Modestly Lower In Cautious Trade

Indian shares were a tad lower on Tuesday despite firm cues from global markets and comments from U.S. President Donald Trump that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.

RTTNews | 3時47分前

Australian Market Slips To Losses In Mid-market

The Australian stock market is slipping in to the red in mid-market trading on Tuesday after early gains, reversing some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,850 level, with weakness in financial and technology stocks partially offset by gains in mining and energy stocks.

RTTNews | 4時50分前

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders react to further progress made towards ending the US government shutdown, with the US Senate commencing a series of votes on a package to reopen the government and end the longest shutdown on record. Asian markets closed mostly higher on Monday.

RTTNews | 5時9分前

Sensex, Nifty Seen Opening Higher On Trade Deal Hopes

Indian shares look set to open on a positive note Tuesday after U.S. President Donald Trump indicated he would reduce the tariff rate on Indian goods "at some point," and that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.

RTTNews | 5時42分前

Thai Shares Expected To Open To The Upside On Tuesday

The Thai stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had dropped more than 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,305-point plateau and it's called higher again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

RTTNews | 6時13分前

Rebound Tipped For Indonesia Stock Market

The Indonesia stock market on Monday snapped the three-day winning streak in which it had gained almost 160 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,390-point plateau although it's expected to see renewed support on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The JCI finished slightly lower on Monday as losses from the financials and telecoms were mitigated by support from the resource stocks and a mixed picture from the cement companies. For the day, the index eased 3.35 points or 0.04 percent to finish at the daily low of 8,391.24 after peaking at 8,478.15. Among the actives, Bank CIMB Niaga shed 0.57 percent, while Bank Mandiri fell 0.42 percent, Bank Danamon Indonesia collected 0.40 percent, Bank Negara Indonesia tumbled 1.78 percent, Bank Central Asia skidded 1.15 percent, Bank Rakyat Indonesia slumped 1.26 percent, Indosat Ooredoo Hutchison plunged 3.72 percent, Indocement improved 0.78 percent, Semen Indonesia plummeted 4.17 percent, Indofood Sukses Makmur slipped 0.35 percent, United Tractors rallied 1.36 percent, Energi Mega Persada surged 4.60 percent, Astra Agro Lestari dropped 0.96 percent, Aneka Tambang rose 0.34 percent, Vale Indonesia eased 0.22 percent, Timah soared 6.85 percent, Bumi Resources spiked 6.38 percent and Astra International was unchanged. The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

RTTNews | 6時43分前

EURUSD	1.15521	GBPUSD	1.31257	AUDUSD	0.65163
USDJPY	154.22	USDCAD	1.40382	USDCHF	0.80486