Bay Street Likely To Open On Cautious Note

RTTNews | 832天前

(RTTNews) - Data on Canada's GDP and U.S. personal income & spending are likely to set the trend for the Canadian market at the start on Friday. The mood is likely to remain a bit cautious.

Investors will continue to react to quarterly earnings updates from Canadian companies.

Data on Canada's GDP growth for the month of February is due at 8:30 AM ET. The Canadian economic activity likely increased by 0.3% over a month earlier in February 2023, according to preliminary estimates. In January, the GDP increased by 0.5%, following a slight 0.1% contraction in December.

In earnings news, TC Energy Corporation (TRP.TO) reported first-quarter net income of $1.3 billion or $1.29 per common share compared to $0.4 billion or $0.36 per common share in first quarter 2022.

Imperial Oil (IMO.TO) reported first-quarter net income of $1,248 million, compared with net income of $1,173 million in the year-ago quarter.

Cameco Corporation (CCO.TO) reported a net income of $119 million for the quarter ended March 31, 2023, compared with net income of $40 million a year ago.

After posting losses for three straight sessions, the Canadian market saw some sustained buying at several counters from across various sectors on Thursday to end the day's session on a firm note.

The benchmark S&P/TSX Composite Index ended with a gain of 155.92 points or 0.77% at 20,522.64 after scaling a low of 20,400.81 and a high of 20,546.69 intraday.

Asian stocks advanced on Friday after solid earnings from Meta Platforms boosted sentiment on Wall Street overnight.

European stocks are weak despite coming off lows. Data showing a slower pace of growth of the euro zone economy in the first quarter of the year is weighing on sentiment. Weak employment data from Germany and a rise in French consumer price inflation are also weighing on stocks.

In commodities, West Texas Intermediate Crude oil futures are up $0.43 or 0.58% at $75.19 a barrel.

Gold futures are down $6.70 or 0.34% at $1,992.00 an ounce, while Silver futures are down $0.123 or 0.49% at $24.860 an ounce.

U.S. Wholesale Inventories Inch Up Less Than Expected In June

Wholesale inventories in the U.S. crept up by less than expected in the month of June, according to a report released by the Commerce Department on Thursday. The Commerce Department said wholesale inventories inched up by 0.1 percent in June after falling by 0.3 percent in May. Economists had expected wholesale inventories to rise by 0.2 percent, in line with the preliminary estimate.

RTTNews | 5小時58分鐘前

U.S. Labor Productivity Rebounds Roughly In Line With Estimates In Q2

Labor productivity in the U.S. saw a significant rebound in the second quarter of 2025, according to preliminary data released by the Labor Department on Thursday. The report said labor productivity shot up by 2.4 percent in the second quarter after tumbling by a downwardly revised 1.8 percent in the first quarter.

RTTNews | 6小時30分鐘前

U.S. Jobless Claims Rise More Than Expected To 226,000

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 2nd. The Labor Department said initial jobless claims climbed to 226,000, an increase of 7,000 from the previous week's revised level of 219,000.

RTTNews | 6小時40分鐘前

Bank Of England Cuts Rate In Tight Vote

The Bank of England reduced its benchmark interest rate in a close call on Thursday suggesting that the monetary easing cycle is nearing an end as policymakers became more concerned about persistent inflation. The Monetary Policy Committee, headed by BoE Governor Andrew Bailey, voted 5-4 to cut the bank rate by 25 basis points to 4.00 percent.

RTTNews | 7小時37分鐘前

Global Cues, Firm Commodity Prices Point To Another Firm Start On Bay Street

Canadian shares are likely to open higher Thursday morning, tracking positive global cues and higher commodity prices.

RTTNews | 8小時20分鐘前

U.S. Labor Productivity Surges 2.4% In Second Quarter

Labor productivity in the U.S. saw a significant rebound in the second quarter of 2025, according to preliminary data released by the Labor Department on Thursday.

RTTNews | 8小時27分鐘前

U.S. Weekly Jobless Claims Rise More Than Expected

A report released by the Labor Department on Thursday showed first-time claims for U.S. unemployment benefits rose by more than expected in the week ended August 2nd.

RTTNews | 8小時33分鐘前

Pound Jumps After BoE Rate Decision

The British pound strengthened against other major currencies in the European session on Thursday the Bank of England (BoE) reduced UK interest rates by a quarter point, making it the fifth reduction in a year, although almost half of its policymakers opted to maintain borrowing costs.

RTTNews | 9小時1分鐘前

EURUSD	1.16628	GBPUSD	1.34388	AUDUSD	0.65085
USDJPY	147.062	USDCAD	1.37425	USDCHF	0.80588

Advertisement

Bay Street Likely To Open On Cautious Note