Bay Street Likely To Open Higher On Firm Oil Prices

RTTNews | 727 hari yang lalu

(RTTNews) - The Canadian market may open higher on Wednesday with energy stocks finding support on firm crude oil prices. The overall mood is likely to remain cautious as investors await more economic data amid persisting worries about inflation and interest rates.

Shopify Inc. (SHOP.TO) announced today that it is investing in wholesale platform Faire, in a global deal that would see the start-up adopt Shopify technology for its clients. Faire, which is valued at $12.59 billion, would become the recommended wholesale marketplace for Shopify merchants.

Valeo Pharma Inc. (VPH.TO) said Wednesday that it has agreed to a 5 million Canadian-dollar ($3.7 million) credit facility with Accord Financial. The pharmaceutical company said that the new money will provide additional financial liquidity and increased flexibility as it pursues its long-tern growth plans.

Following the uptick seen in the previous session, Canadian stocks showed a substantial move back to the downside during trading on Tuesday.

The benchmark S&P/TSX Composite Index plunged 244.46 points or 1.2 percent to 19,556.15, tumbling to its lowest closing level in three months.

The sharp pullback on Bay Street came amid ongoing concerns about the outlook for U.S. interest rates, with JPMorgan Chase (JPM) CEO Jamie Dimon warning in an interview with The Times of India that rates could go as high as 7 percent.

"I am not sure if the world is prepared for 7%," Dimon said. "I ask people in business, 'Are you prepared for something like 7%?' The worst case is 7% with stagflation."

Asian stocks ended mixed on Wednesday as investors grappled with the impact of higher interest rates on growth. Profits at China's industrial firms in August posted a surprise surge of 17.2% from a year earlier, pointing to signs of economic recovery in the world's second-largest economy.

After recovering from a weak start and trading higher for a while, European stocks pared gains and are currently down in negative territory amid concerns about interest rates and the health of the global economy.

In commodities, West Texas Intermediate Crude oil futures are up $1.45 or 1.6% at $91.84 a barrel.

Gold futures are down $8.80 or 0.47% at $1,911.00 an ounce, while Silver futures are lower by $0.161 or 0.7% at $23.035 an ounce.

European Shares Set To Follow Wall Street Lower

European stocks may drift lower at open on Wednesday after U.S. stock markets retreated from record highs overnight on apprehensions about the outlook for interest-rate cuts.

RTTNews | 1j 32min yang lalu

Japan Private Sector Growth Weakest In 4 Months

Japan's private sector grew at the slowest pace in four months in September as the strong rise in services activity was partially offset by a steeper fall in manufacturing production, flash survey data published by S&P Global showed on Wednesday. The flash composite output index fell to 51.1 in September from a six-month high of 52.0 in August.

RTTNews | 2j 2min yang lalu

Sensex, Nifty Extend Losses For Fourth Day

Indian shares opened on a sluggish note on Wednesday after U.S. President Donald Trump accused India and China of being the primary funders of Russia's war in Ukraine through their continued purchase of Russian oil.

RTTNews | 2j 17min yang lalu

Australian Market Doubles Early Losses In Mid-market

The Australian stock market is doubling its early losses in mid-market moves on Wednesday, snapping a three-session winning streak, with the benchmark S&P/ASX 200 falling below the 8,800 level, following the broadly negative cues from Wall Street overnight, with weakness in gold miners, financial and technology stocks partially offset by gains in iron ore miners and energy stocks.

RTTNews | 3j 46min yang lalu

Asian Markets Track Wall Street Lower

Asian stock markets are mostly lower on Wednesday, following the negative cues from Wall Street overnight, amid rising ambiguity over the outlook for interest rates after US Fed Chair Jerome Powell gave little indication about the future path of interest rates. Renewed trade tensions with the United States and the escalating tensions in Europe and the Middle East are weighing on market sentiment.

RTTNews | 4j 3min yang lalu

Sensex, Nifty Seen Lower On Weak Global Cues

Indian shares may open a tad lower on Wednesday, tracking weak cues from global markets and amid renewed trade tensions with the United States.

RTTNews | 4j 24min yang lalu

Losing Streak May Continue For Thai Stock Market

The Thai stock market has moved lower in five straight sessions, shedding more than 35 points or 2.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,270-point plateau and it may take further damage again on Wednesday.

RTTNews | 5j 11min yang lalu

Japanese Market Modestly Lower

The Japanese stock market is modestly lower in post-holiday trading on Wednesday, reversing some of the gains in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling below the 45,450 level, with a lack of direction leading to a mixed performance across most sectors.

RTTNews | 5j 36min yang lalu

EURUSD	1.17889	GBPUSD	1.34927	AUDUSD	0.6621
USDJPY	148.061	USDCAD	1.38532	USDCHF	0.79309