Bay Street Seen Opening Notably Lower On Recession Fears

RTTNews | 1070 일 전

(RTTNews) - Sharply lower Canadian and U.S. futures, falling commodity prices and a sell-off in Asian and European markets amid mounting fears of a recession, point to a gap down opening for Canadian shares on Friday.

In Canadian company news, Bausch Health Companies Inc. (BHC.TO) and Glenmark Specialty S.A., a subsidiary of Glenmark Pharmaceuticals Ltd., announced Friday that RYALTRIS (olopatadine hydrochloride and mometasone furoate nasal spray) has been approved by Health Canada for the symptomatic treatment of moderate to severe seasonal allergic rhinitis (SAR) and associated ocular symptoms in adults, adolescents, and children aged 6 years and older.

On the economic front, data on Canadian retail sales for the month of July is due at 8:30 AM ET.

A preliminary report on manufacturing sales during the month of August is also due at 8:30 AM ET.

After opening on a positive note, the Canadian market slipped and stayed weak on Thursday amid concerns about global growth after central banks, including the Federal Reserve, raised policy rates sharply to combat inflation.

The benchmark S&P/TSX Composite Index ended with a loss of 181.86 points or 0.95% at 19,002.68, extending losses to a third straight session.

Asian stocks closed weak, extending losses for a third day running, amid concerns about elevated inflation and slowing global growth.

Chinese shares fell notably on growth concerns, with Nomura cutting its China 2023 annual growth forecast further to 4.3% from 5.1% in light of ongoing COVID woes. Japanese markets were closed for Autumnal Equinox holiday.

European stocks are down sharply amid concerns about a possible global recession. S&P Global's Eurozone manufacturing purchasing managers' index fell to 48.5 in September from 49.6 a month earlier, according to preliminary estimates released earlier in the day.

Also, the downturn in British businesses deepened this month because of soaring costs and faltering demand. The S&P Global/CIPS flash Composite Purchasing Managers' Index (PMI) fell to 48.4 from 49.6 in August.

In commodities trading, West Texas Intermediate Crude oil futures are down $2.74 or 3.28% at $80.75 a barrel.

Gold futures are down $28.00 or 1.67% at $1,653.10 an ounce, while Silver futures are lower by $0.547 or 2.79% at $19.070 an ounce.

Thai Stock Market Tipped To Open In The Green

The Thai stock market on Thursday ended the two-day slide in which it had slipped almost 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau and it may open to the upside again on Friday.

RTTNews | 30 분 전

Japanese Market Notably Lower

Giving up some of the gains in the previous two sessions, the Japanese market is notably lower on Friday, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is falling well below the 42,700 level, with weakness across most sectors led by exporters and technology stocks.

RTTNews | 48 분 전

Additional Support Predicted For Indonesia Shares

The Indonesia stock market has moved higher in two consecutive trading days, gathering almost 50 points or 0.6 percent in that span. The Jakarta Composite Index now sits just above the 7,950-point plateau and it may add to its winnings on Friday.

RTTNews | 1 시간 0 분 전

Australian Market Slightly Lower

The Australian stock market is trading slightly lower on Friday, giving up some of the gains in the previous two sessions, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying below the 9,000 mark, with weakness in mining and financial stocks partially offset by gains in energy and technology stocks.

RTTNews | 1 시간 9 분 전

Hong Kong Shares May Stop The Bleeding On Friday

The Hong Kong stock market has finished lower in three straight sessions, tumbling almost 830 points or 3.3 percent along the way. The Hang Seng Index now rests just beneath the 25,000-point plateau although it may find traction on Friday.

RTTNews | 1 시간 15 분 전

Higher Open Called For China Stock Market

The China stock market on Thursday snapped the two-day losing streak in which it had stumbled more than 80 points or 2.1 percent. The Shanghai Composite Index now sits just above the 3,840-point plateau and it's expected to see additional support on Friday.

RTTNews | 1 시간 30 분 전

Rebound Anticipated For Taiwan Stock Market

The Taiwan stock market on Thursday wrote a finish to the three-day winning streak in which it had jumped more than 750 points or 3.1 percent. The Taiwan Stock Exchange now rests just beneath the 24,230-point plateau although it figures to bounce higher again on Friday.

RTTNews | 2 시간 0 분 전

Japan Retail Sales Add 0.3% In July

The value of retail sales in Japan was up a seasonally adjusted 0.3 percent on month in July, the Ministry of Economy, Trade and Industry said on Friday - coming in at 13.335 trillion yen.

RTTNews | 2 시간 27 분 전

EURUSD	1.16597	GBPUSD	1.35001	AUDUSD	0.6538
USDJPY	146.922	USDCAD	1.3752	USDCHF	0.80293