To use chat, please login.
Back to contacts

Bay Street Likely To Open On Mixed Note

RTTNews | 46 days ago
Bay Street Likely To Open On Mixed Note

(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.

read more
Taiwan Stock Market May Add To Its Winnings On Wednesday

Taiwan Stock Market May Add To Its Winnings On Wednesday

The Taiwan stock market on Tuesday snapped the four-day losing streak in which it had tumbled more than 760 points or 6.4 percent. The Taiwan Stock Exchange now rests just above the 13,825-point plateau and it's tipped to open slightly higher again on Wednesday,
RTTNews | 4h 6min ago
BoJ Minutes: Japan Economy Picking Up Steam

BoJ Minutes: Japan Economy Picking Up Steam

Members of the Bank of Japan's Monetary Policy Board agree that the country's economy is trending higher as the effects of COVID-19 wane, minutes from the bank's meeting on July 20 and 21 revealed on Wednesday.
RTTNews | 4h 25min ago
Singapore Bourse May Find Traction On Wednesday

Singapore Bourse May Find Traction On Wednesday

The Singapore stock market has moved lower in three straight sessions, stumbling almost 100 points or 3.2 percent along the way. The Straits Times Index now rests just above the 3,165-point plateau although it's looking at a steady start on Wednesday.
RTTNews | 4h 36min ago
Malaysia Stock Market May Halt Losing Streak

Malaysia Stock Market May Halt Losing Streak

The Malaysia stock market has moved lower in five straight sessions, slumping more than 50 points or 3.2 percent along the way. The Kuala Lumpur Composite Index now rests just above the 1,410-point plateau although it may stop the bleeding on Wednesday.
RTTNews | 5h 6min ago
South Korea Stock Market May Extend Tuesday's Gains

South Korea Stock Market May Extend Tuesday's Gains

The South Korea stock market on Tuesday wrote a finish to the four-day losing streak in which it had tumbled almost 150 points or 6.3 percent to a two-year closing low. The KOSPI now sits just beneath the 2,225-point plateau and it may tick higher again on Wednesday.
RTTNews | 5h 36min ago
BoJ Minutes To Be Released On Wednesday

BoJ Minutes To Be Released On Wednesday

The Bank of Japan will on Wednesday release the minutes from its monetary policy meeting on July 20 and 21, highlighting a light day for Asia-Pacific economic activity.
RTTNews | 6h 36min ago
TSX Fails To Hold Early Gains, Ends Marginally Down

TSX Fails To Hold Early Gains, Ends Marginally Down

After opening higher and staying firm till a little before noon, the Canadian market turned subdued and moved along the flat line on Tuesday and finally ended the session on a slightly weak note.
RTTNews | 7h 25min ago
Dollar Recovers After Early Weakness

Dollar Recovers After Early Weakness

The U.S. dollar exhibited some weakness in the Asian session on Tuesday and remained sluggish in the European session as well as treasury yields dropped and European shares gained on bargain hunting.
RTTNews | 7h 57min ago