Bay Street Likely To Open On Mixed Note

RTTNews | 935日前

(RTTNews) - The Canadian market is likely to open on a mixed note Friday morning with investors reacting to earnings updates from major U.S. banks, and a slew of earnings announcements from Canadian companies.

A mixed trend in the commodities market is also likely to render the mood cautious.

Shaw Communications Inc. (SJR.B.TO) reported first-quarter 2023 net income of $168 million, compared with net income of $196 million in the year-ago quarter.

Cogeco Communications Inc (CCA.TO) reported earnings per share of $2.44 for the first quarter of fiscal 2023, up 7.5% from the year-ago quarter.

Cogeco Inc (CGO.TO) announced that its earnings per share on a diluted bases was $2.67 in the first quarter of fiscal 2023. That was up 10.8% from the earnings per share it recorded a year earlier.

Corus Entertainment Inc. (CJR.B.TO) reported net income of $31,387 for the quarter ended November 30, 2022, down 59% from net income of $76,165 it posted in the year-ago quarter.

On the economic front, data on Canadian manufacturing sales for the month of November is due at 8:30 AM ET. Manufacturing sales in Canada increased 2.8% month-over-month in October of 2022, compared to the preliminary estimate of 2% and following an upwardly revised 0.1% increase in the prior month.

Canadian stocks turned in a fine performance on Thursday as data showing a drop in U.S. consumer prices inflation in the month of December raised expectations the Federal Reserve will slow down the pace of its interest rate hikes in the coming months.

The benchmark S&P/TSX Composite Index ended with a gain of 186.15 points or 0.93% at 20,211.20.

Asian stocks ended higher on Friday as data showing a slowdown in U.S. inflation helped calm worries over the Federal Reserve's rate-hike trajectory.

European stocks are paring some gains after hovering near 9-month higs, with investors digesting mixed economic data from the region.

German economy likely stagnated in the fourth quarter of last year with GDP rising 1.9% over the full-year 2022, official data showed. Meanwhile, the British economy unexpectedly grew in November, with GDP rising 0.1% in the month as food and drink businesses benefited from the FIFA World Cup.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.32 or 0.41% at $78.71 a barrel.

Gold futures are gaining $1.50 or 0.1% at $1,900.30 an ounce, while Silver futures are down $0.284 or 1.18% at $23.720 an ounce.

U.S. Service Sector Growth Unexpectedly Slows In July

A report released by the Institute for Supply Management on Tuesday unexpectedly showed a modest slowdown in the pace of growth by U.S. service sector activity in the month of July. The ISM said its services PMI edged down to 50.1 in July from 50.8 in June. While a reading above 50 still indicates growth, economists had expected the index to rise to 51.5.

RTTNews | 21分前

U.S. Trade Deficit Narrows To $60.2 Billion In June As Imports Plunge

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday. The Commerce Department said the trade deficit shrank to $60.2 billion in June from a revised $71.7 billion in May.

RTTNews | 1時7分前

U.S. Trade Deficit Narrows Slightly More Than Expected In June

The U.S. trade deficit narrowed by slightly more than anticipated in the month of June, according to a report released by the Commerce Department on Tuesday.

RTTNews | 2時12分前

Eurozone Private Sector Continues To Expand

Euro area private sector remained in the expansionary territory in July but the rate of growth remained sluggish as stagnant demand pulled back production, final survey results of the purchasing managers' survey by S&P Global showed on Tuesday. The HCOB composite output index rose to 50.9 in July from 50.6 in June. The flash reading was 51.0. A score above 50.0 indicates expansion.

RTTNews | 2時14分前