Bay Street Likely To Open On Negative Note

RTTNews | 3s 25 dakika önce

(RTTNews) - Lower U.S. and Canadian futures, weak commodity prices and uncertainty about U.S. trade policies may weigh on Canadian market and set up a weak start on Thursday.

Also, some profit taking after seven successive days of increase could weaken several stocks.

West Texas Intermediate Crude oil futures are down $2.26 or 3.56% at $60.89 a barrel.

Gold futures are lower by $9.00 or 0.28% at 3,179.30, while Silver futures are down $0.219 or 0.68% at 32.225 an ounce.

The Canadian market closed modesty higher on Wednesday, led by gains in industrials and technology sectors. The benchmark S&P/TSX Composite Index ended up 75.59 points or 0.3% at 25,692.45.

On the economic front today, data from Canada Mortgage and Housing Corporation showed housing starts in Canada increased to 278,600 units in April from 214,200 units in March.

Manufacturing sales in Canada decreased to -1.4% in March from 0.2% in February. Wholesale sales in Canada dropped to 0.2% in March from 0.3% in February, data from Statistics Canada showed.

Asian stocks remained subdued as investors digested the latest actions on the trade tariff front, and waited for further developments in negotiations as well as progress in the Iran nuclear deal.

European stocks are turning in a mixed performance in cautious trade with investors assessing earnings updates and the recent developments on the trade front, including U.S.-China deal.

U.S. Homebuilder Confidence Unexpectedly Slumps In May

Reflecting growing uncertainties stemming from elevated interest rates, tariff concerns, building material cost uncertainty and the cloudy economic outlook, the National Association of Home Builders released a report on Thursday showing an unexpected slump by U.S. homebuilder confidence in the month of May.

RTTNews | 11 dakika önce

U.S. Industrial Production Unexpectedly Flat In April

With a rebound by utilities output offset by decreases by manufacturing and mining output, the Federal Reserve released a report on Thursday showing industrial production in the U.S. came in unchanged in the month of April. The Fed said industrial production was unchanged in April after falling by 0.3 percent in March. Economists had expected industrial production to rise by 0.2 percent.

RTTNews | 32 dakika önce

New York Manufacturing Index Edges Modestly Lower In May

A report released by the Federal Reserve Bank of New York said regional manufacturing activity continued to decline modestly in the month of May. The New York Fed said its general business conditions index edged down to a negative 9.2 in May from a negative 8.1 in April, with a negative reading indicating contraction. Economists had expected the index to dip to a negative 10.0.

RTTNews | 44 dakika önce

Philly Fed Index Jumps More Than Expected But Remains Negative In May

Philadelphia-area manufacturing activity remained weak in the month of May, according to a report released by the Federal Reserve Bank of Philadelphia on Thursday. The Philly Fed said its diffusion index for current general activity jumped to a negative 4.0 in May from a negative 26.4 in April, but a negative reading still indicates contraction.

RTTNews | 1s 38 dakika önce

U.S. Retail Sales Inch Up In Line With Estimates In April

A report released by the Commerce Department on Thursday showed a slight increase by U.S. retail sales in the month of April. The Commerce Department said retail sales crept up by 0.1 percent in April after surging by an upwardly revised 1.7 percent in March. Economists had expected retail sales to inch up by 0.1 percent compared to the 1.4 percent jump originally reported for the previous month.

RTTNews | 1s 54 dakika önce

U.S. Producer Prices Unexpectedly Decrease In April

Producer prices in the U.S. unexpectedly decreased in the month of April, according to a report released by the Labor Department on Thursday. The Labor Department said its producer price index for final demand fell by 0.5 percent in April following a revised unchanged reading in March. Economists had expected producer prices to rise by 0.2 percent.

RTTNews | 1s 56 dakika önce

Eurozone GDP Expands 0.3% In Q1; Employment Growth Improves

Euro area economic growth accelerated less than estimated in the first quarter and employment logged a faster increase, flash estimate from Eurostat showed on Thursday. Gross domestic product expanded 0.3 percent on a quarterly basis, which was revised down from the 0.4 percent growth estimated on April 30. This followed the fourth quarter's 0.2 percent expansion.

RTTNews | 1s 58 dakika önce

U.S. Weekly Jobless Claims Unchanged From Upwardly Revised Level

The Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits came in unchanged in the week ended May 10th The report said initial jobless claims came in at 229,000 last week, unchanged from the previous week's revised level. Economists had expected jobless claims to tick up to 229,000 from the 228,000 originally reported for the previous week.

RTTNews | 2s 6 dakika önce

EURUSD	1.11873	GBPUSD	1.32926	AUDUSD	0.64019
USDJPY	145.632	USDCAD	1.39909	USDCHF	0.83609

Advertisement

Bay Street Likely To Open On Negative Note