Bay Street May Open Higher On Firm Metal Prices; GDP Data In Focus

RTTNews | 270 일 전

(RTTNews) - Canadian shares may open higher on Friday with materials stocks set to ride on strong gold and silver prices. As the U.S. market will close early today, volume of business on Bay Street will be thin for a second straight day. Wall Street remained closed on Thursday for Thanksgiving holiday.

Data on Canadian GDP data for the third quarter is due out at 8:30 AM ET.

The Canadian economy advanced by 0.5% in the second quarter, following a 0.4% rise in the previous quarter. On an annualized basis, Canadian GDP grew by 2.1% in the second quarter, the highest since the first quarter of 2023. The economy grew by an upwardly revised 1.8% in the first quarter of 2024.

A report from the Canadian Federation of Independent Business said small business sentiment in Canada increased to 59.70 points in November from 55.80 points in October of 2024. Small Business Sentiment in Canada reached an all time high of 74.07 points in April of 2002 and a record low of 30.84 points in March of 2020.

The Canadian market recorded a new closing high Thursday with energy stocks contributing significantly to the rise. The volume of business was thin due to Thanksgiving holiday in the U.S.

The benchmark S&P/TSX Composite Index posted a new all-time high of 25,593.47 and closed up 55.22 points or 0.22% at 25,543.52.

Asian stocks ended mixed on Friday, with a stronger yen amid BOJ rate hike bets weighing on Japanese markets while Chinese stocks logged strong gains on stimulus expectations, heading into a key economic meeting next month.

The Japanese yen briefly breached the key level of 150 against the dollar after core inflation in the capital region came in above the 2 percent target, boosting expectations for an interest rate hike in the near-term.

On the contrary, Japanese industrial production and retail sales registered weaker-than-expected growth in November. China's Shanghai Composite index rallied 0.93 percent to 3,326.46 amid speculation that Beijing will provide more support for the economy at a key policy meeting in December.

European stocks are down in negative territory with investors reacting to regional economic data, and on worries about trade tariffs and recent political turmoil in France.

The annual inflation rate in the Eurozone accelerated for a second month to 2.3% in November 2024 from 2% in October, matching market expectations, preliminary estimates showed.

Preliminary data showed earlier today that France's harmonized inflation rate rose 1.7% in November from 1.6% in October -matching expectations and remaining well below the European Central Bank's 2 percent target.

Elsewhere, official data showed German retail sales fell more than expected in October, falling 1.5% month-on-month.

In commodities, West Texas Intermediate Crude oil futures are down $0.11 or 0.16% at $68.61 a barrel.

Gold futures are gaining $19.80 or 0.75% at $2,684.60 an ounce, while Silver futures are up $0.654 or 2.14% at $31.210 an ounce.

Australia Inflation Accelerates To 1-Year High

Australia's consumer price inflation accelerated more than expected to a one-year high in July, indicating a more gradual approach to monetary policy easing. The CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, the Australian Bureau of Statistics reported. This was the strongest since July 2024.

RTTNews | 1 시간 9 분 전

European Economic News Preview: German GfK Consumer Confidence Due

Consumer sentiment survey data from Germany is the top economic news due on Wednesday, headlining a light day for the European economic news. At 2.00 am ET, the market research group GfK publishes Germany's monthly consumer confidence survey results. The consumer sentiment indicator is forecast to fall to -22 in September from -21.5 in August.

RTTNews | 1 시간 45 분 전

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending it early gains in mid-market moves on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by mining and financial stocks.

RTTNews | 2 시간 34 분 전

Asian Markets Mixed In Cautious Trades

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious and seem reluctant to make significant moves ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation, which could impact the outlook for interest rates.

RTTNews | 2 시간 38 분 전

Mild Upside Seen For Thai Stock Market

The Thai stock market on Tuesday ended the two-day winnings streak in which it had picked up almost 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau although it figures to move back to the upside again on Wednesday.

RTTNews | 4 시간 4 분 전

Japanese Market Slightly Lower

The Japanese stock market is slightly lower in choppy trading on Wednesday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is staying below the 42,400 level, with a mixed performance across all sectors.

RTTNews | 4 시간 23 분 전

Indonesia Shares May Reverse Tuesday's Losses

The Indonesia stock market headed south again on Tuesday, one day after snapping the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,900-point plateau although it's looking to bounce higher again on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.

RTTNews | 4 시간 34 분 전

Australian Market Modestly Higher

Australian shares are trading modestly higher on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains in mining and financial stocks.

RTTNews | 4 시간 40 분 전

EURUSD	1.16207	GBPUSD	1.34563	AUDUSD	0.6489
USDJPY	147.776	USDCAD	1.38404	USDCHF	0.80527