Bay Street Likely To Open On Mixed Note

RTTNews | 1214天前

(RTTNews) - Canadian shares are likely to open on a mixed note Friday morning, with investors digesting earnings announcements and assessing recent economic data from the U.S. that are likely to influence the Federal Reserve's monetary policy stance.

Comments from some Fed officials regarding rate hikes are also expected to impact market's movements. San Francisco Federal Reserve Bank president Mary Daly warned on Thursday it is far too early for the U.S. central bank to "declare victory" in its fight against inflation.

Chicago Fed President Charles Evans said he believes the Fed has plenty more work to do, and Minneapolis Fed President Neel Kashkari said he is sticking to his view that the U.S. central bank will need to raise its policy rate another 1.5 percentage points this year and more in 2023, even if that causes a recession.

In Canadian company news, Rogers Communications Inc. (RCI.TO), Shaw Communications Inc. (SJR.TO), and Quebecor Inc., said on Friday that they have inked a deal to sell Freedom Mobile Inc., to Videotron Ltd., a subsidiary of Quebecor. The transaction is subject to the regulatory approvals and closing of the merger of Shaw and Rogers announced on March 15, 2021.

Chartwell Retirement Residences (CSH.UN) reported second-quarter net income of $1.1 million compared to net loss of $4.6 million in the second quarter of the previous financial year.

Softchoice Corporation (SFTC.TO) said that its net income for the second quarter came in at $7.8 million, as against net loss of $13.1 million in the year-ago quarter. The increase was driven by the growth in income from operations, partially offset by an increase in net foreign exchange loss and income tax expense, the company said.

The Canadian market ended on a firm note on Thursday despite paring a significant portion of its intraday gains. The benchmark S&P/TSX Composite Index, which climbed to 20,100.55, ended the session with a gain of 105.94 points or 0.53% at 19,991.88.

Asian stocks ended mixed on Friday, with Japanese markets posting strong gains in a catch-up rally following a holiday on Thursday.

A cautious undertone prevailed after comments from Federal Reserve officials pointed to aggressive interest rate hikes to bring inflation down to the Fed's 2% target.

European stocks are modestly higher after data showed Euro zone industrial production in June grew three times more than expected on the back of a jump in the output of capital goods.

In commodities trading, West Texas Intermediate Crude oil futures are down $1.43 or 1.52% at $92.91 a barrel.

Gold futures are down $6.00 or 0.33% at $1,801.20 an ounce, while Silver futures are lower by $0.104 or 0.51% at $20.245 an ounce.

No Help Yet For Thai Stock Market

The Thai stock market has ticked lower in three straight sessions, sinking more than 15 points or 1.2 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau and it's looking at another soft start again on Tuesday.

RTTNews | 1小时17分钟前

Canadian Dollar Falls Against U.S. Dollar

The Canadian dollar declined against the U.S. dollar in the New York session on Monday.

RTTNews | 1小时42分钟前

Indonesia Bourse Likely To Remain Rangebound On Tuesday

The Indonesia stock market has alternated between positive and negative finishes through the last four trading days since the end of the two-day winning streak in which it had picked up almost 110 points or 1.3 percent. The Jakarta Composite Index now sits just above the 8,710-point plateau although it's expected to open under pressure on Tuesday. The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference. The JCI finished modestly higher on Monday following gains from the telecom, resource and energy companies, while the financials were mixed and the cement stocks were down. For the day, the index advanced 77.93 points or 0.90 percent to finish at 8,710.70 after trading between 8,642.06 and 8,720.09. Among the actives, Bank CIMB Niaga was down 0.28 percent, while Bank Mandiri climbed 1.02 percent, Bank Danamon Indonesia dropped 0.80 percent, Bank Negara Indonesia added 0.47 percent, Bank Rakyat Indonesia collected 0.55 percent, Indosat Ooredoo Hutchison vaulted 3.83 percent, Indocement sank 0.72 percent, Semen Indonesia lost 0.69 percent, Indofood Sukses Makmur tumbled 1.76 percent, United Tractors plunged4.86 percent, Astra International rose 0.37 percent, Energi Mega Persada skyrocketed 18.67 percent, Astra Agro Lestari fell 0.31 percent, Aneka Tambang rallied 2.06 percent, Vale Indonesia spiked 2.57 percent, Timah shed 0.63 percent, Bumi Resources surged 5.88 percent and Bank Central Asia was unchanged.

RTTNews | 1小时47分钟前

Japanese Market Modestly Lower

The Japanese stock market is trading modestly lower on Tuesday, reversing the gains in the previous session, following the broadly negative cues from Wall Street overnight. The Nikkei 225 is falling well below the 50,500 level, with weakness in index heavyweights and a mixed performance across most other sectors.

RTTNews | 1小时53分钟前

Hong Kong Shares May Take Further Damage On Tuesday

The Hong Kong stock market on Monday ended the two-day winning streak in which it had climbed more than 325 points or 1.3 percent. The Hang Seng Index now sits just above the 25,760-point plateau and it's expected to open to the downside again on Tuesday. The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference. The Hang Seng finished sharply lower on Monday following losses from the financial shares, property stocks and technology companies. For the day, the index stumbled 319.72 points or 1.23 percent to finish at 25,765.36 after trading between 25,755.01 and 26,151.46. Among the actives, Alibaba Group declined 1.03 percent, while Alibaba Health Info skidded 0.92 percent, ANTA Sports cratered 2.69 percent, China Life Insurance fell 0.57 percent, China Mengniu Dairy dropped 0.82 percent, China Resources Land tumbled 1.55 percent, CITIC lost 0.65 percent, CNOOC tanked 2.26 percent, CSPC Pharmaceutical plunged 2.85 percent, Galaxy Entertainment added 0.70 percent, Haier Smart Home stumbled 1.77 percent, Hang Lung Properties retreated 1.44 percent, Henderson Land retreated 1.71 percent, Hong Kong & China Gas slumped 0.97 percent, Industrial and Commercial Bank of China plummeted 3.48 percent, JD.com shed 0.68 percent, Lenovo sank 0.80 percent, Li Auto was down 0.36 percent, Li Ning and Xiaomi Corporation both slipped 0.47 percent, Meituan gained 0.45 percent, New World Development climbed 1.13 percent, Nongfu Spring surrendered 2.12 percent, Techtronic Industries crashed 2.29 percent and WuXi Biologics advanced 0.98 percent.

RTTNews | 2小时2分钟前

Rally May Stall For China Stock Market

The China stock market has moved higher in back-to-back sessions, advancing almost 50 points or 1.3 percent along the way. The Shanghai Composite Index now sits just above the 3,920-point plateau although it may be stuck in neutral on Tuesday.

RTTNews | 2小时17分钟前

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, extending the losses in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling to near the 8,600 level, with a mixed performance across most sectors ahead of the domestic interest rate decision later in the day.

RTTNews | 2小时24分钟前

Taiwan Stock Market Due For Profit Taking

The Taiwan stock market has moved higher in five straight sessions, gathering almost 950 points or 3.5 percent along the way. The Taiwan Stock Exchange now sits just above the 28,300-point plateau although investors figure to lock in gains on Tuesday. The global forecast for the Asian markets is flat to lower ahead of the FOMC meeting later this week. The European markets were mixed and little changed and the U.S. bourses were soft and the Asian markets figure to split the difference. The TSE finished sharply higher on Monday following gains from the financial shares and technology stocks. For the day, the index rallied 322.89 points or 1.15 percent to finish at the daily high of 28,303.78 after trading as low as 28,026.39. Among the actives, Cathay Financial collected 0.44 percent, while Mega Financial sank 0.73 percent, CTBC Financial dipped 0.16 percent, First Financial rose 0.36 percent, Fubon Financial added 0.63 percent, E Sun Financial soared 4.40 percent, Taiwan Semiconductor Manufacturing Company rallied 2.40 percent, United Microelectronics Corporation improved 0.82 percent, Hon Hai Precision gained 0.43 percent, Largan Precision tumbled 1.87 percent, Catcher Technology tanked 2.98 percent, MediaTek climbed 1.05 percent, Novatek Microelectronics shed 0.52 percent, Formosa Plastics lost 0.59 percent, Asia Cement perked 0.13 percent and Delta Electronics and Nan Ya Plastics were unchanged. The lead from Wall Street is weak as the major averages opened mixed but quickly headed south and spent the balance of the session well under water.

RTTNews | 2小时47分钟前

EURUSD	1.16447	GBPUSD	1.33285	AUDUSD	0.66253
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