Bay Street May Open Slightly Higher

RTTNews | 1 hari yang lalu

(RTTNews) - Canadian shares may open slightly higher on Monday amid optimism about some positive progress in U.S.-China trade talks. Energy stocks are likely to find some support on higher crude oil prices..

The U.S.-China discussions will aim to resolve some major trade disputes between the two major economies. Treasury Secretary Scott Bessent leads the U.S. delegation in the high-level trade talks.

The meeting happens following last week's direct phone call between U.S. President Donald Trump and Chinese President Xi Jinping.

Amid a lack of significant economic or earnings data, the market is likely to move largely in a tight band.

The Canadian market ended modestly higher on Friday despite paring some gains after a firm start. The Canadian benchmark S&P/TSX Composite Index settled at 26,429.13, up by 86.84 or 0.33%. For the week, the TSX has managed to gain around 1%.

According to data released by Statistics Canada, the unemployment rate in Canada rose to 7.0% in May from 6.9% in April. However, net employment rose by 8,800 jobs. Average hourly earnings for permanent employees rose by 3.5%.

Asian stocks rose broadly on Monday amid hopes that another round of U.S.-China trade talks that will take place in London later today could help ease trade tensions between the two superpowers.

Beijing confirmed that Vice Premier He Lifeng will attend the talks. Treasury Secretary Scott Bessent, Commerce Secretary Howard Lutnick and Trade Representative Jamieson Greer would likely be present with the U.S. delegation.

European stocks are mostly subdued today with investors making cautious moves with their focus on U.S.-China high-level trade talks in London.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.28 or 0.43% at $64.86 a barrel.

Gold futures are down $7.10 or 0.21% at $3,339.50 an ounce, while Silver futures are gaining $0.291 or 0.81% at $36.430 an ounce.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | 1j 8min yang lalu

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | 1j 14min yang lalu

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | 1j 55min yang lalu

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | 3j 20min yang lalu

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | 3j 35min yang lalu

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | 4j 43min yang lalu

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | 5j 19min yang lalu

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | 8j 13min yang lalu

EURUSD	1.14222	GBPUSD	1.34941	AUDUSD	0.65211
USDJPY	144.832	USDCAD	1.36686	USDCHF	0.82203

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Bay Street May Open Slightly Higher