Bay Street Likely To Open On Firm Note

RTTNews | 8 일 전

(RTTNews) - Canadian stocks are likely to open on a positive note on Thursday, tracking gains in global markets following U.S. chipmaker NVIDIA reporting a sharp surge in third-quarter earnings, and raising its outlook for the fourth quarter.

Investors will also be focusing on U.S. and Canadian economic data for directional clues.

NVIDIA reported a 62% surge in revenue to $57 billion for the quarter ending October, driven by strong demand for its AI data-centre chips. Sales from that segment soared 66% to over $51 billion, reaffirming Nvidia's position as the backbone of the global AI infrastructure boom, said a BBC report.

The chipmaker expects fourth-quarter sales of around $65 billion, significantly above market estimates.

On the Canadian economic front, a report from the Canadian Federation of Independent Business showed Canada's CFIB Business Barometer long-term index, tracking 12-month forward expectaions for business performance, rose to 55.5 in November, from an upwardly revised 46.7 in October.

Canadian producer prices data and raw materials prices data are due at 8:30 AM ET.

Canadian stocks moved higher on Wednesday, lifted by gains in materials stocks as metal prices climbed up. Technology stocks too had a good outing.

The benchmark S&P/TSX Composite Index ended with a gain of 241.95 points or 0.81% at 30,278.41.

Asian stocks closed broadly higher on Thursday after Nvidia reported strong third quarter earnings, and raised its fourth quarter guidance.

The major European markets are up firmly in positive territory today amid easing concerns about valuations of AI-related stocks after Nvidia reported impressive third quarter results and raised its guidance for the fourth quarter.

In commodities, West Texas Intermediate Crude oil futures are up $0.55 or 0.91% at $59.99 a barrel.

Gold futures are down $21.40 or 0.52% at $4,061.40 an ounce, while Silver futures are down $0.284 or 0.56% at $50.570 an ounce.

Swiss Economy Shrinks As Estimated

Switzerland's economy contracted in the third quarter as the front-loading effects linked to the US trade policy faded, the State Secretariat for Economic Affairs reported Friday. Gross domestic product shrank 0.5 percent sequentially, reversing a 0.2 percent rise in the second quarter. The SECO confirmed the estimate published on November 17.

RTTNews | 2 시간 26 분 전

Bay Street Likely To Open Slightly Higher

Slightly higher Canadian and U.S. futures point to a marginally positive start for the Canadian market on Friday. The GDP data may impact the mood.

RTTNews | 2 시간 28 분 전

Wall Street Seen Opening On Flat Note

Activity is likely to be somewhat subdued amid thin volumes on Friday with trading scheduled to end at 1 PM ET. The economic calendar is blank and there are not many news from the corporate front to warrant significant moves.

RTTNews | 3 시간 4 분 전

German Unemployment Rate Steady At 6.3%

Germany's unemployment rate remained unchanged in November and the number of unemployed increased less than expected, official data showed Friday. The Federal Employment Agency said the jobless rate stood at 6.3 percent in November, the same rate as in October and also matched expectations.

RTTNews | 3 시간 26 분 전

FTSE 100 Moves In Tight Range In Lackluster Trade

U.K. market's benchmark index FTSE 100 moved in a very narrow range Friday morning with investors largely refraining from making significant moves amid a lack of triggers. Expectations of a rate cut by the Federal Reserve in December, and signs of a Ukraine peace deal help underpin sentiment.

RTTNews | 3 시간 58 분 전

French Inflation Remains Stable; GDP Growth Confirmed At 0.5%

France's inflation remained stable in November and remained within the comfort zone of the European Central Bank and the economy logged a stronger growth as estimated in the third quarter, official data revealed Friday. The consumer price index posted a steady increase of 0.9 percent in November, preliminary data from the statistical office INSEE showed. This was slightly slower than the expected

RTTNews | 4 시간 13 분 전

French Stocks Mostly Subdued As Investors Assess Economic Data

French stocks were mostly subdued Friday morning with investors assessing the latest batch of economic data, including reports on inflation and GDP. Rising optimism about the Federal Reserve lowering its interest rates in December aided sentiment.

RTTNews | 4 시간 16 분 전

DAX Down Slightly; Economic Data In Focus

German stocks moved in tight range Friday morning with investors digesting the nation's retail sales and import prices data and looking ahead to consumer price inflation report and unemployment data, due later in the day.

RTTNews | 5 시간 4 분 전

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