Bay Street Seen Opening On Weak Note

RTTNews | 777 일 전

(RTTNews) - Lower commodity prices and weak European stocks point to a negative start for the Canadian market Tuesday morning.

Data on Canadian and U.S. manufacturing activity for the month of July are likely to provide some cues about the outlook for interest rates.

Manufacturing activity in Canada slowed down in June, according to a report by Markit Economics. The S&P Global Canada Manufacturing PMI fell to 48.8 in June of 2023 from 49 in the previous month, marking the third month of contraction since the start of the year

George Weston Limited (WN.TO) reported adjusted net earnings of $377 million for the second quarter, an increase of $49 million, or 14.9%, compared to adjusted net earnings in the year-ago quarter.

The Canadian market ended on a firm note on Monday, led by gains in materials and technology stocks.

The benchmark S&P/TSX Composite Index, which climbed to 20,677.25 in early trades, ended with a gain of 107.27 points or 0.52% at 20,626.64, the highest close in three months.

Asian stocks turned in a mixed performance on Tuesday as China disappointed and investors looked ahead to a slew of U.S. economic data due this week for additional clues on the rate outlook.

Chinese stocks ended weak after a private survey showed factory activity in the country contracted in July, missing expectations for a small expansion.

European stocks are down in negative territory, weighed down by weak manufacturing PMI data from Asia and Europe.

The HCOB Eurozone Manufacturing PMI fell to 42.7 in July from 43.4 in the previous month, marking the lowest in three years.

U.K. factory output fell at the fastest pace in seven months in July, hit by higher interest rates while British retail sales fell in July at the fastest rate since April 2022, separate reports showed.

In commodities, West Texas Intermediate Crude oil futures are down $0.21 or 0.27% at $81.59 a barrel.

Gold futures are down $16.40 ,992.80 or 0.82% at $1,992.80 an ounce, while Silver futures are down $0.362 or 1.45% at $24.610 an ounce.

Swiss Market Ends On Weak Note

The Switzerland market closed notably lower on Tuesday, in line with most of the major markets across Europe, as the mood remained cautious ahead of monetary policy announcements from the Federal Reserve and the Bank of England, due on Wednesday and Thursday, respectively.

RTTNews | 1 시간 18 분 전

European Markets Close On Weak Note Ahead Of Fed, BoE Policy Decisions

European markets closed notably lower on Tuesday as investors, digesting a slew of economic data from the region, remained reluctant to pick up stocks ahead of Federal Reserve's interest rate decision due on Wednesday.

RTTNews | 1 시간 33 분 전

U.S. Business Inventories Rise 0.2% In July, In Line With Estimates

The Commerce Department released a report on Tuesday showing business inventories in the U.S. increased in line with expectations in the month of July. The report said business inventories rose by 0.2 percent in July, matching the increase seen June as well as economist estimates.

RTTNews | 2 시간 34 분 전

U.S. Homebuilder Confidence Holds Steady In September

Homebuilder confidence in the U.S. held steady in the month of September, according to a report released by the National Association of Home Builders on Tuesday. The report said the NAHB/Wells Fargo Housing Market Index came in at 32 in September, unchanged from August. Economists had expected the index to inch up to 33.

RTTNews | 3 시간 2 분 전

U.S. Industrial Production Unexpectedly Inches Slightly Higher In August

Industrial production in the U.S. unexpectedly edged slightly higher in the month of August, according to a report released by the Federal Reserve on Tuesday. The Fed said industrial production crept up by 0.1 percent in August after falling by a downwardly revised 0.4 percent in July. Economists had expected industrial production to slip by 0.1 percent.

RTTNews | 3 시간 19 분 전

U.S. Import Prices Unexpectedly Increase In August

A report released by the Labor Department on Tuesday showed import prices in the U.S. unexpectedly increased in the month of August. The Labor Department said import prices rose by 0.3 percent in August after inching up by a downwardly revised 0.2 percent in July. Economists had expected import prices to edge down by 0.1 percent.

RTTNews | 3 시간 36 분 전

Canadian Market Drifts Lower In Cautious Trade

The Canadian market is down in negative territory Tuesday morning, as data showing an increase in the nation's consumer price inflation dimmed the extent of rate cuts this year although the Canadian central bank is widely expected to lower interest rate by 25 basis points on Wednesday.

RTTNews | 4 시간 2 분 전

U.S. Retail Sales Climb 0.6% In August, Much More Than Expected

The Commerce Department released a report on Tuesday showing retail sales in the U.S. rose by much more than expected in the month of August. The report said retail sales climbed by 0.6 percent in August, matching an upwardly revised increase in July. Economists had expected retail sales to inch up by 0.2 percent compared to the 0.5 percent growth originally reported for the previous month.

RTTNews | 5 시간 2 분 전

EURUSD	1.18612	GBPUSD	1.36545	AUDUSD	0.66813
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