Bay Street Likely To Open On Firm Note

RTTNews | 5 hari yang lalu

(RTTNews) - Canadian stocks are likely to open on a positive note on Thursday, tracking gains in global markets following U.S. chipmaker NVIDIA reporting a sharp surge in third-quarter earnings, and raising its outlook for the fourth quarter.

Investors will also be focusing on U.S. and Canadian economic data for directional clues.

NVIDIA reported a 62% surge in revenue to $57 billion for the quarter ending October, driven by strong demand for its AI data-centre chips. Sales from that segment soared 66% to over $51 billion, reaffirming Nvidia's position as the backbone of the global AI infrastructure boom, said a BBC report.

The chipmaker expects fourth-quarter sales of around $65 billion, significantly above market estimates.

On the Canadian economic front, a report from the Canadian Federation of Independent Business showed Canada's CFIB Business Barometer long-term index, tracking 12-month forward expectaions for business performance, rose to 55.5 in November, from an upwardly revised 46.7 in October.

Canadian producer prices data and raw materials prices data are due at 8:30 AM ET.

Canadian stocks moved higher on Wednesday, lifted by gains in materials stocks as metal prices climbed up. Technology stocks too had a good outing.

The benchmark S&P/TSX Composite Index ended with a gain of 241.95 points or 0.81% at 30,278.41.

Asian stocks closed broadly higher on Thursday after Nvidia reported strong third quarter earnings, and raised its fourth quarter guidance.

The major European markets are up firmly in positive territory today amid easing concerns about valuations of AI-related stocks after Nvidia reported impressive third quarter results and raised its guidance for the fourth quarter.

In commodities, West Texas Intermediate Crude oil futures are up $0.55 or 0.91% at $59.99 a barrel.

Gold futures are down $21.40 or 0.52% at $4,061.40 an ounce, while Silver futures are down $0.284 or 0.56% at $50.570 an ounce.

U.S. Pending Home Sales Unexpectedly Surge To 11-Month High In October

The National Association of Realtors released a report on Tuesday showing an unexpected jump by pending home sales in the U.S. in the month of October. October said its pending home sales index shot up by 1.9 percent to 76.3 in October after inching up by 0.1 percent to an upwardly revised 74.9 in September. Economists had expected pending home sales to decrease by 0.4 percent.

RTTNews | 1j 15min yang lalu

U.S. Producer Price Growth Matches Estimates In September

A long-delayed report released by the Labor Department on Tuesday showed producer prices in the U.S. increased in line with economist estimates in the month of September. The Labor Department said its producer price index for final demand rose by 0.3 percent in September after edging down by 0.1 percent in August. The monthly price growth matched expectations.

RTTNews | 1j 18min yang lalu

U.S. Retail Sales Rise 0.2% In September, Less Than Expected

Retail sales in the U.S. increased by less than expected in the month of September, according to a long-delayed reported released by the Commerce Department on Tuesday. The Commerce Department said retail sales rose by 0.2 percent in September after climbing by 0.6 percent in August. Economists had expected retail sales to rise by 0.4 percent.

RTTNews | 1j 34min yang lalu

U.S. Producer Prices Increase In Line With Estimates In September

A long-delayed report released by the Labor Department on Tuesday showed producer prices in the U.S. increased in line with economist estimates in the month of September.

RTTNews | 2j 48min yang lalu

U.S. Retail Sales Rise Less Than Expected In September

Retail sales in the U.S. increased by less than expected in the month of September, according to a long-delayed reported released by the Commerce Department on Tuesday.

RTTNews | 2j 51min yang lalu

Bay Street May Open On Mixed Note

Canadian shares are likely to open on a mixed note Tuesday morning with investors tracking the trend in the commodities market, and awaiting fresh economic data from the U.S. Some profit taking is likely at a few counters in technology and materials sectors after recent strong upmove.

RTTNews | 3j 42min yang lalu

NZ Dollar Falls Amid RBNZ Rate Cut Speculation

The New Zealand dollar weakened against other major currencies in the European session on Tuesday, as traders speculate the Reserve Bank of New Zealand or RBNZ is likely to slash its official cash rate in its upcoming monetary policy meeting due this week.

RTTNews | 4j 27min yang lalu

FTSE 100 Modestly Higher; Kingfisher Up Sharply After Raising Profit Forecast

U.K.'s FTSE 100 index is modestly higher around noon on Tuesday with investors largely making cautious moves, reacting to some corporate news, and looking ahead to a fresh batch of U.S. economic data.

RTTNews | 4j 30min yang lalu

EURUSD	1.15786	GBPUSD	1.31851	AUDUSD	0.64489
USDJPY	155.959	USDCAD	1.41069	USDCHF	0.80634