Bay Street Likely To Open Lower On Weak Commodity Prices

RTTNews | Před 952 dny

(RTTNews) - Lower crude oil and bullion prices point to a negative start for Canadian shares on Friday.

Investors are likely to react to a slew of earnings news, and economic data, as well for direction.

In earnings news, Yamana Gold Inc. (YRI.TO) reported that its third quarter net earnings declined to $19.8 million or $0.02 per share from $27.0 million or $0.03 per share in the prior year.

Adjusted net earnings were $44.5 million or $0.05 per share compared to $73.7 million or $0.08 per share in the prior year.

Fortis Inc. (FTS.TO) reported that its third-quarter net earnings attributable to equity shareholders was C$326 million or C$0.68 per share, compared to C$295 million or C$0.63 per share last year.

Imperial Oil Ltd. (IMO.TO) reported estimated net income in the third quarter of $2,031 million, compared to $2,409 million in the second quarter of 2022.

Air Canada (AC.TO) reported a net loss of $508 million in the third quarter of this financial year, compared to a net loss of $640 million a year ago.

On the economic front, final data on Canadian GDP for the month of August, and a preliminary reading of GDP for the month of September are due at 8:30 AM ET.

The Canadian market ended modestly higher on Thursday, led by gains in technology stocks.

The benchmark S&P/TSX Composite Index, which rose to a one-month high at 19,516.36 early on in the session, gave up most of its gains as the day progressed and finally settled at 19,352.11, up 72.35 points or 0.38% from the previous close.

Asian stocks ended broadly lower on Friday as investors digested the monetary policy announcements from the ECB and BoJ and looked ahead to next week's FOMC meeting for clues on whether a pivot on the pace of rate hikes is on the table.

After opening notably lower on weak results from U.S. tech majors and a few big-name European companies, European stocks are slowly regaining lost ground.

In commodities trading, West Texas Intermediate Crude oil futures for December are down $0.75 or 0.8% at $88.33 a barrel.

Gold futures are down $12.20 or 0.74% at $1,653.40 an ounce, while Silver futures are down $0.229 or 1.17% at $19.265 an ounce.

U.S. Job Growth Slightly Exceeds Estimates In May

Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment shot up by 139,000 jobs in May after jumping by a downwardly revised 147,000 jobs in April.

RTTNews | Před 22 minutami

U.S. Employment Jumps Slightly More Than Expected In May

Employment in the U.S. increased by slightly more than expected in the month of May, according to a report released by the Labor Department on Friday.

RTTNews | Před 1 h 30 min

Bay Street May Open Slightly Higher; U.S., Canadian Jobs Data In Focus

Higher Canadian and U.S. futures point to a slightly positive start on Bay Street Friday morning. The focus is on the crucial jobs data from Canada as well as the U.S. Lingering concerns about trade tensions may weigh on sentiment and limit market's upside.

RTTNews | Před 1 h 44 min

Eurozone GDP Growth Accelerates To 0.6%

The euro area economic growth doubled in the first quarter on household spending, investment and exports, official data revealed on Friday. Gross domestic product logged a quarterly growth of 0.6 percent in the first quarter, which was faster than the initial estimate of 0.3 percent, Eurostat said. This followed a 0.3 percent rise in the fourth quarter of 2024.

RTTNews | Před 3 h 32 min

India Slashes Policy Rates By Bigger Than Expected 50 Bps; Shifts Stance To Neutral

The Reserve Bank of India lowered its interest rates by a sharper-than-expected 50 basis points on Friday, marking the third consecutive reduction as policymakers focused on propelling growth amid the softening inflation, but the central bank shifted its monetary policy stance to neutral signaling a pause ahead. The MPC decided to cut the policy repo rate by 50 basis points to 5.50 percent.

RTTNews | Před 3 h 44 min

Sensex, Nifty Rally As RBI Surprises With Jumbo Rate Cut

Indian shares rallied on Friday as the Reserve Bank of India (RBI) surprised the market with a 50 basis points (bps) cut in the benchmark repo rate to 5.5 percent, slashed the cash reserve ratio (CRR) by 100 basis points to 3 percent, and also trimmed its inflation forecast for the year by 30 basis points to 3.7 percent.

RTTNews | Před 3 h 47 min

U.K. Stocks Subdued As Investors Look For Directional Clues

U.K. stocks are largely subdued Friday morning with investors looking for directional clues and refraining from making significant moves. The focus is on the progress of trade negotiations between U.S. and China, and the upcoming U.S. non-farm payrolls data.

RTTNews | Před 3 h 53 min

CAC 40 Down Slightly In Lackluster Trade

French stocks are down slightly in negative territory Friday morning, as disappointing industrial production data, and trade tensions weigh on sentiment. Investors are also looking ahead to the release of U.S. non-farm payrolls report, due later in the day.

RTTNews | Před 4 h 22 min

EURUSD	1.13979	GBPUSD	1.35305	AUDUSD	0.64899
USDJPY	144.976	USDCAD	1.36834	USDCHF	0.82371

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Bay Street Likely To Open Lower On Weak Commodity Prices