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Canadian Market Up Sharply On All-round Buying

RTTNews | 1085 days ago

Canadian Market Up Sharply On All-round Buying

(RTTNews) - Canadian stocks are up sharply in early afternoon trades on Friday, extending morning gains, thanks to sustained buying in healthcare, technology, energy and materials shares.

Several stocks from financials, consumer, industrials and real estate sectors are also up with strong gains.

The benchmark S&P/TSX Composite Index is up 285.10 points or 1.47% at 19,698.10 nearly half an hour past noon.

On the economic front, data from Statistics Canada showed the Canadian economy shed 39,700 jobs in August of 2022. Full time employment in Canada decreased 77,200 in August, while part-time employment increased to 37,500 in the monthm from -17,500 in July.

The unemployment rate in Canada rose to 5.4% in August of 2022 from the record-low of 4.9% observed in the previous two months.

Shopify Inc (SHOP.TO) is rising nearly 6.5%. goeasy (GSY.TO), Cogeco Inc (CGO.TO), Cogeco Communications (CCA.TO), Precision Drilling (PD.TO), BRP Inc (DOO.TO), Nutrien (NTR.TO), Boyd Group Services (BYD.TO), Loblaw Companies (L.TO), Bank of Montreal (BMO.TO) and Constellation Software (CSU.TO) are up 2 to 5%.

Dollarama Inc. (DOL.TO) said its diluted net earnings per common share increased by 37.5% to $0.66 in the second quarter from $0.4 a year ago. The stock is gaining about 1.3%.

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U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | 2h 16min ago

Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | 2h 34min ago

U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | 3h 18min ago

German Unemployment Exceeds 3 Mln

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | 3h 47min ago

U.S. PCE Price Index Increased In Line With Estimates In July

U.S. PCE Price Index Increased In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday.

RTTNews | 4h 0min ago

Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus

Slightly Weak Start Seen For U.S. Stocks; PCE Data In Focus

Lower U.S. futures point to a slightly negative start on Wall Street Friday morning.

RTTNews | 4h 16min ago

Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus

Lower Futures Pointing To Weak Start On Bay Street; Canadian GDP, US PCE Data In Focus

Lower Canadian and U.S. futures ahead of Canadian GDP data and U.S. personal consumption expenditure report, point to a weak start on Bay Street Friday morning.

RTTNews | 4h 54min ago

Pound Slides Against Majors

Pound Slides Against Majors

The British pound weakened against other major currencies in the European session on Friday, weighed down to a large extent by the weakness in the financial sector, amid reports of likely imposition of windfall tax on banks.

RTTNews | 5h 1min ago

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