Bay Street Likely To Open Weak

RTTNews | 644日前

(RTTNews) - Canadian shares may open on a negative note on Friday, hurt by hawkish comments from Federal Reserve, Bank of England and European Central Bank officials, and lower metal prices.

Echoing recent hawkish statements from several officials, Powell said on Thursday that the Fed isn't yet confident they had reached a sufficiently restrictive level of monetary policy to bring inflation down to the 2 percent target.

Algonquin Power & Utilities Corp. (AQN.TO) reported net loss of $174.5 million for their third quarter, down 11% from net loss of $195.2 million in the year ago quarter. However, the company's earnings missed expectations.

Emera Incorporated (EMA.TO) reported third-quarter net income of $101 million, or $0.37 per common share, compared with net income of $167 million, or $0.63 per common share in the year-ago quarter.

SNC-Lavalin Inc (SNC.TO) reported adjusted net income $67.3 million for the third-quarter, compared with adjusted net income $52.1 million in Q3 2022.

Onex Corporation (ONEX.TO) reported net earnings of $256 million for the quarter ended September 30, 2023, compared with net loss of $180 million in the corresponding quarter of the previous year.

After three successive days of losses, the Canadian market rebounded on Thursday, and despite giving up substantial portion of intraday gains, ended the day's session on a positive note.

The benchmark S&P/TSX Composite Index, which surged to 19,791.12, gaining more than 260 points in the process, ended the day with a gain of 57.20 points or 0.29% at 19,587.41.

Asian stocks ended weak on Friday as a jump in U.S. bond yields following a disappointing Treasury auction coupled with Fed Chair Jerome Powell's cautious comments on the rate hike path dashed expectations of a peak in U.S. interest rates.

European stocks are down firmly in negative territory, with hawkish comments from Fed, ECB and BoE officials denting hopes that interest rate hikes are finished.

In commodities, West Texas Intermediate Crude oil futures are up $0.79 or 1.04% at $76.53 a barrel.

Gold futures are down $17.90 or 0.91% at $1,951.90 an ounce, while Silver futures are lower by $0.310 or 1.33% at $22.595 an ounce.

European Stocks Close Mixed After Cautious Session

European stocks closed on a mixed note on Friday with investors largely staying cautious, awaiting the meeting of the Presidents of the U.S. and Russia, and continuing to assess Trump administration's tariff moves and their impact on global economic growth.

RTTNews | 17分前

U.S. Business Inventories Rise In Line With Estimates In June

A report released by the Commerce Department on Friday showed business inventories in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said business inventories rose by 0.2 percent in June after coming in unchanged in May. The uptick matched expectations.

RTTNews | 1時55分前

U.S. Consumer Sentiment Unexpectedly Deteriorates In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index fell to 58.6 in August from 61.7 in July. Economists had expected the index to inch up to 62.0.

RTTNews | 2時12分前

U.S. Industrial Production Pulls Back Slightly In July

A report released by the Federal Reserve on Friday showed a modest decrease by U.S. industrial production in the month of July. The Fed said industrial production edged down by 0.1 percent in July after climbing by an upwardly revised 0.4 percent in June. Economists had expected industrial production to come in unchanged.

RTTNews | 2時41分前

New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

The Federal Reserve Bank of New York released a report on Friday showing regional manufacturing activity unexpectedly grew at a faster rate in the month of August. The New York Fed said its general business conditions index climbed to 11.9 in August from 5.5 in July, with a positive reading indicating growth. Economists had expected the index to fall to 0.5.

RTTNews | 3時6分前

U.S. Consumer Sentiment Index Unexpectedly Decreases In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday.

RTTNews | 3時32分前

U.S. Import Price Growth Exceeds Estimates In July

The Labor Department released a report on Friday showing import prices in the U.S. increased by more than expected in the month of July. The report said import prices climbed by 0.4 percent in July after a downwardly revised 0.1 percent dip in June. Economists had expected import prices to inch up by 0.1 percent, matching the 0.1 percent uptick originally reported for the previous month.

RTTNews | 3時40分前

U.S. Retail Sales Climb 0.5% In July, In Line With Estimates

A report released by the Commerce Department on Friday showed retail sales in the U.S. increased in line with economist estimates in the month of July. The Commerce Department said retail sales climbed by 0.5 percent in July after jumping by an upwardly revised 0.9 percent in June.

RTTNews | 4時13分前

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