Bay Street Likely To Open Lower

RTTNews | 49 dni temu

(RTTNews) - Canadian shares look headed for a weak start on Friday due to trade war concerns, although fairly firm crude oil and bullion prices may help limit the market's downside. Data showing an increase in Canadian employment in the month of June and a drop in the unemployment rate may also aid sentiment a bit.

U.S. President Donald Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners that haven't got letters yet.

Trump also said he would make an announcement regarding Russia, raising the prospect of more sanctions on the major oil producer.

Data from Statistics Canada showed employment in Canada increased by 83,100 in June. The unemployment rate in Canada decreased to 6.9% in June from 7% in May.

Average hourly earnings in Canada increased to C$ 37.22 in June of 2025 over the previous month.

A separate data from Statistics Canada showed building permits in Canada increased to 12% in May from -6.8% in April of 2025.

On Thursday, the Canadian market climbed to a new high despite ongoing concerns about tariffs. The benchmark S&P/TSX Composite Index, which touched an intraday high of 27,120.00 post noon, settled at 27,082.30, gaining 109.98 points or about 0.41%.

In a Truth Social post Wednesday evening, Trump announced a 50 percent tariff on copper is due to go into effect on August 1st.

Trump also posted several more letters to world leaders on Truth Social revealing plans to increase tariffs.

Asian shares ended weak in cautious trade on Friday after Trump announced a 35% tariff on Canadian goods, effective August 1, 2025, and warned of a blanket tariff of 15-20% on most trading partners that haven't got letters yet.

The major European markets are down in negative territory with notable losses, hurt by renewed fears of a global trade war following U.S. President's latest tariff announcements.

In commodities, West Texas Intermediate Crude oil futures are up $0.74 or 1.11% at $67.31 a barrel.

Gold futures are gaining $34.80 or 1.02% at $3,360.50 an ounce, while Silver futures are up $1.030 or 2.76% at $38.335 an ounce.

U.S. Dollar Falls Against Most Majors

The U.S. dollar weakened against its most major counterparts in the New York session on Friday.

RTTNews | 7g 26 minut temu

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.

RTTNews | 8g 45 minut temu

Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings

Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.

RTTNews | 10g 58 minut temu

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.

RTTNews | 11g 35 minut temu

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.

RTTNews | 12g 3 minut temu

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | 14g 48 minut temu

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | 15g 7 minut temu

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | 15g 50 minut temu

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