Bay Street Eyes U.S. Data; Technology Stocks Likely To Rise On Strong U.S. Tech Earnings

RTTNews | 620 hari yang lalu

(RTTNews) - Key U.S. economic data, including non-farm payrolls employment, factory orders, and the University of Michigan's report on consumer confidence, are set to determine the trend on Wall Street and Bay Street in early trades on Friday.

Technology stocks are likely to fare reasonably well thanks to strong results from Meta Platforms, Amazon Inc., and Apple Inc.

In Canadian earnings news, Open Text Corporation (OTEX.TO) reported adjusted EBITDA of $566.3 million for the second-quarter, up 66.1% over the adjusted EBITDA of $340.9 million in the year-ago quarter.

Brookfield Business Partners (BBU.UN.TO) announced that net income attributable to Unitholders for the year ended December 31, 2023 was $1,405 million, compared to net income of $98 million in the prior year. The firm said current year results include net gains primarily related to the sale of our nuclear technology services operation.

The Canadian market shrugged off early weakness and ended on a firm note on Thursday, led by gains in materials, industrials, consumer sectors.

The benchmark S&P/TSX Composite Index ended with a gain of 97.33 points or 0.46% at 21,119.21. The index climbed to 21,189.26 in early trades, but dropped to 20,980.93 around late morning, but recovered gradually as the session progressed to eventually close well above the flat line.

Asian stocks ended higher on Friday after Meta and Amazon delivered forecast beating results. iPhone maker Apple also delivered strong results for its fiscal first quarter, but its China sales missed Wall Street targets. A weaker dollar and falling yields contributed as well to the positive sentiment in Asian markets.

Chinese shares fell sharply despite promises of further fiscal stimulus from the government to boost the government amid a deepening property slump.

European markets are modestly higher in cautious trade, a day after the Bank of England signaled that it will likely lower borrowing costs this year for the first time since 2020. Data showing strong industrial production growth in France is aiding sentiment.

In commodities, West Texas Intermediate Crude oil futures are down $0.05% at $73.77 a barrel.

Gold futures are gaining $1.30 at $2,072.40 an ounce, while Silver futures are up $0.068 at $23.305 an ounce.

European Shares Likely To Open On Firm Note

European stocks are likely to open on a positive note Wednesday as Federal Reserve Chair Jerome Powell's dovish comments, highlighting weakness in the U.S. job market, raised expectations for more interest-rate cuts.

RTTNews | 15 minit yang lalu

U.S. Dollar Falls Against Majors

The U.S. dollar weakened against other major currencies in the Asian session on Wednesday.

RTTNews | 26 minit yang lalu

Sensex, Nifty Modestly Higher In Cautious Trade

Indian shares were slightly higher on Wednesday after the International Monetary Fund lifted its growth projection for India this fiscal year and Fed Chair Jerome Powell signaled two more quarter-point interest-rate cuts this year, citing a sharp slowdown in hiring.

RTTNews | 1j 23min yang lalu

Australian Market Maintains Early Gains In Mid-market

The Australian stock market is maintaining its early gains in mid-market moves on Wednesday, adding to the gains in the previous session, with the benchmark S&P/ASX 200 moving well above the 8,950 level, following the mixed cues from Wall Street overnight, with gains in mining and financial stocks partially offset by weakness in energy stocks.

RTTNews | 2j 26min yang lalu

Asian Markets Trade Mostly Higher

Asian stock markets are mostly higher on Wednesday, following the mixed cues from Wall Street overnight, as traders remain optimistic about further interest rate cuts after US Fed Chair Jerome Powell signaled two more quarter-point interest-rate cuts this year, citing a sharp slowdown in hiring. Meanwhile, concerns about ongoing trade tensions between the U.S. and China are weighing on the markets

RTTNews | 2j 53min yang lalu

Sensex, Nifty Set To Follow Asian Peers Higher

Indian shares look set to open on a positive note Wednesday, defying Wall Street's declines and U.S. President Donald Trump's fresh warning that countries aligning with BRICS could face new U.S. tariffs.

RTTNews | 3j 16min yang lalu

Thai Stock Market May Find Support On Wednesday

The Thai stock market has moved lower in consecutive trading days, retreating almost 50 points or 3.9 percent along the way. The Stock Exchange of Thailand now sits just above the 1,265-point plateau and it's expected to see a steady start on Wednesday.

RTTNews | 3j 52min yang lalu

Steady Start Eyed For Indonesia Stock Market

The Indonesia stock market has finished lower in back-to-back sessions, stumbling more than 190 points or 2.4 percent along the way. The Jakarta Composite Index now rests just beneath the 8,070-point plateau although investors may go bargain hunting on Wednesday.

RTTNews | 4j 22min yang lalu

EURUSD	1.16213	GBPUSD	1.33544	AUDUSD	0.65122
USDJPY	151.209	USDCAD	1.4037	USDCHF	0.80004