Bay Street Likely To Open On Positive Note

RTTNews | 2 days ago
Bay Street Likely To Open On Positive Note

(RTTNews) - Canadian stocks may open higher on Wednesday, amid continued optimism about Fed interest rate cut, and easing geopolitical tensions ahead of talks between U.S. President Donald Trump and Russian President Vladimir Putin that is scheduled to take place on Friday.

U.S. Treasury Secretary Scott Bessent wants the Fed to keep the door open to a larger, 50 basis-point rate cut next month following recent weak job growth revisions.

Gildan Activewear, Inc. (GIL.TO) and HanesBrands, Inc. (HBI) announced Wednesday that they have entered into a definitive merger agreement under which Gildan will acquire HanesBrands.

Hydro One (H.TO) reported second-quarter net income of $327 million, compared with $292 million in the year-ago quarter.

Metro Inc. (MRU.TO) reported net earnings of $323 million for the third quarter of its current financial year, up 9% compared to a year ago.

The Canadian market closed on a firm note on Tuesday, lifted by hopes of a Fed rate cut. The benchmark S&P/TSX Composite Index ended with a gain of 146.03 points or 0.53% at 27,921.26.

Asian stocks closed mostly higher on Wednesday as U.S. inflation data bolstered speculation the Federal Reserve will cut interest rate by 25 basis points in September.

European stocks are up firmly in positive territory, riding on hopes of a Fed rate cut, and easing geopolitical and trade tensions.

In commodities, West Texas Intermediate Crude oil futures are down $0.34 or 0.54% at $62.83 a barrel.

Gold futures are gaining $17.70 or 0.52% at $3,416.70 an ounce, while Silver futures are up $0.628 or 1.65% at $38.630 an ounce.

read more
TSX Down Marginally In Lackluster Trade

TSX Down Marginally In Lackluster Trade

Canadian stocks are turning in a mixed performance in somewhat lackluster trade on Friday, with investors focusing on the upcoming US - Russia summit that could help end the war in Ukraine.
RTTNews | 1h 49min ago
Swiss Market Ends On Firm Note

Swiss Market Ends On Firm Note

The Switzerland market ended on a firm note on Friday with stocks from across several sectors gaining ground on sustained buying support. The mood remained positive right through the day's session, amid some expectations about an end to the Ukraine war.
RTTNews | 2h 17min ago
European Stocks Close Mixed After Cautious Session

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 | 2h 36min ago
U.S. Business Inventories Rise In Line With Estimates In June

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 | 4h 14min ago
U.S. Consumer Sentiment Unexpectedly Deteriorates In August

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 | 4h 31min ago
U.S. Industrial Production Pulls Back Slightly In July

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 | 5h 0min ago
New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

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 | 5h 25min ago