Bay Street May Open Higher

RTTNews | Pred 12 h 31 min

(RTTNews) - The Canadian market is likely to open on a positive note on Friday, tracking firm European stocks amid easing concerns over U.S.-China trade tensions after Beijing stated its willingness to engage in tariff negotiations with the United States.

At the same time, Beijing has also noted that the U.S. needs to show "sincerity" in negotiations and should be prepared to cancel its unilateral tariffs.

Investors will also be reacting to a slew of Canadian earnings announcements, and updates from big name U.S. companies.

Magna International Inc. (MG.TO) reported first-quarter earnings of $146 million or $0.52 per share, significantly higher than $9 million or $0.03 per share last year. Adjusted earnings were $219 million or $0.78 per share for the period, compared to $1.08 per share a year ago. Analysts had expected the company to earn $0.86 per share.

The Canadian market ended on a weak note on Thursday after stocks showed a lack of direction over the course of the trading session.

The S&P/TSX Composite Index ended the day down 46.13 points or 0.2% at 24,795.55, adding to the modest loss posted in the previous session.

The modestly lower close on Bay Street came amid substantial weakness among gold stocks, as the S&P/TSX Global Gold Index plunged by 3.4 percent

Asian stocks advanced on Friday after China said it is evaluating the possibility of trade talks with the United States, raising hopes of trade war de-escalation. Regional trading volumes were muted as mainland Chinese markets remained closed for Labour Day.

The major European markets are up in positive territory with investors picking up stocks, reacting to the developments on the trade front, regional economic data, and a slew of earnings updates from major European companies.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.59 or 1% at $ 58.65 a barrel.

Gold futures are gaining $41.40 or 1.37% at $3,263.60 an ounce, while Silver futures are up $$0.116 or 0.34% at $32.585 an ounce.

U.S. Dollar Recovers After Jobs Data

The U.S. dollar rebounded against its major counterparts in the New York session on Friday, after the release of better-than-expected non farm payrolls report for April.

RTTNews | Pred 5 h 2 min

Swiss Market Ends On Bright Note

The Switzerland market closed on a strong note on Friday, mirroring the trend in markets across Europe and elsewhere, as worries about trade tensions eased after China stated its willingness to hold talks with the U.S.

RTTNews | Pred 7 h 42 min

European Stocks Close On Buoyant Note

European stocks closed higher on Friday, with the major markets in the region posting strong gains, amid easing concerns about U.S-China trade relations, and on upbeat U.S. non-farm payroll data.

RTTNews | Pred 8 h 3 min

Canadian Market Up Firmly In Positive Territory

The Canadian market is up firmly in positive territory a little past noon on Friday, amid easing concerns about U.S.-China trade tensions following China expressing willingness to hold tariff talks with the United States. Data showing a much higher than expected increase in U.S. non-farm payroll growth in the month of April is also aiding sentiment.

RTTNews | Pred 9 h 1 min

U.S. Factory Orders Spike Slightly Less Than Expected In March

The Commerce Department released a report on Friday showing a sharp increase by new orders for U.S. manufactured goods in the month of March. The report said factory orders spiked by 4.3 percent in March after rising by a downwardly revised 0.5 percent in February.

RTTNews | Pred 10 h 58 min

U.S. Employment Jumps By 177,000 Jobs In April, Much More Than Expected

Job growth in the U.S. far exceeded economist estimates in the month of April, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment shot up by 177,000 jobs in April compared to expectations for an increase of about 130,000 jobs.

RTTNews | Pred 11 h 52 min

Eurozone Inflation Remains Stable At 2.2%

Euro area annual inflation remained stable in April near the European Central Bank's 2 percent target, but the trade tariff uncertainty clouds the outlook. The harmonized index of consumer prices grew 2.2 percent on a yearly basis in April, the same pace of increase as seen in March, flash data from Eurostat showed on Friday. Prices were expected to climb at a slower pace of 2.1 percent.

RTTNews | Pred 12 h 16 min

Eurozone Manufacturing Activity Shrinks At Slower Pace

Euro area factory activity contracted at a slower pace in April as production grew at the fastest pace in more than three years, final data of the purchasing managers' survey by S&P Global showed Friday. The HCOB manufacturing Purchasing Managers' Index rose to a 32-month high of 49.0 in April from 48.6 in March. The score was also above the flash estimate of 48.7.

RTTNews | Pred 12 h 28 min

EURUSD	1.13037	GBPUSD	1.32767	AUDUSD	0.64436
USDJPY	144.966	USDCAD	1.38103	USDCHF	0.8268

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Bay Street May Open Higher