Bay Street May Open On Weak Note

RTTNews | 59 days ago

(RTTNews) - Canadian shares look headed for negative start on Tuesday, weighed down by weak oil prices, and concerns about global trade after U.S. President Donald Trump threatened 200% tariffs on China if Beijing does not export rare-earth magnets to the U.S.

In the Oval Office on Monday, Trump spoke of Washington's strength in its standoff with Beijing and warned that if he played the "incredible cards" at his disposal, it would "destroy China."

In earnings news, The Bank of Nova Scotia (BNS.TO) reported third quarter net income of C$2.5 billion compared to C$1.9 billion, last year. Diluted earnings per share was C$1.84, compared to C$1.41.

BMO Financial Group reported a net income of $2.33 billion or $3.14 per diluted share for the quarter ended July 31, compared with a profit of $1.87 billion or $2.48 per diluted share in the same quarter last year.

CGI Inc. (GIB-A.TO) said that the State of New Jersey has awarded it a 10-year contract to improve the State Integrated Recovery Operations Management Systems (SIROMS). Under the new contract, CGI will help the state to efficiently manage the relief funds and reduce the cost of natural disaster recovery.

In economic news, data from Statistics Canada showed manufacturing sales in Canada increased 1.8% in July, after a 0.3% increase in June.

Wholesale sales likely rose by 1.3% month-over-month in July 2025, following a 0.7% increase in the previous month, according to preliminarty estimates.

The Canadian market ended weak on Monday as investors resorted to profit-taking from last week's record high close. However, selling pressure was somewhat subdued amid renewed hopes of BoC rate cuts in line with anticipated US Fed rate cuts.

The benchmark S&P/TSX Composite, which touched a low of 28,138.70 early on in the session, settled at 28,169.94, down by 163.19 points or 0.58%.

Asian stocks closed lower on Tuesday as Fed independence concerns resurfaced and investors awaited Nvidia results amid hopes it can soothe fears about AI spending.

Trade tensions also kept investors on edge, with U.S. President Donald Trump threatening 200% tariffs on China if Beijing does not export rare-earth magnets to the U.S.

The major European markets are down in negative territory today amid concerns about political uncertainty in France, and renewed trade worries.

In commodities trading, West Texas Intermediate Crude oil futures are down 1.16 or 1.76% at $63.64 a barrel.

Gold futures are gaining $10.00 or 0.3% at $3,427.50 an ounce, while Silver futures are down $0.188 or 0.49% at $38.515 an ounce.

U.S. Consumer Sentiment Deteriorates More Than Previously Estimated In October

Revised data released by the University of Michigan on Friday showed consumer sentiment in the U.S. deteriorated by more than initially estimated in the month of October. The University of Michigan said its consumer sentiment index was downwardly revised to 53.6 from the preliminary reading of 55.0. Economists had expected the consumer sentiment index to be unrevised from the preliminary reading.

RTTNews | 1h 20min ago

U.S. Consumer Prices Rise 0.3% In September, Slightly Less Than Expected

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased by slightly less than expected in the month of September. The Labor Department said its consumer price index rose by 0.3 percent in September after climbing by 0.4 percent in August. Economists had expected consumer prices to rise by another 0.4 percent.

RTTNews | 2h 4min ago

Eurozone Private Sector Growth At 17-Month High

The euro area private sector growth accelerated to a 17-month high in October as new orders registered a steeper growth despite continuing fall in business from abroad. The flash HCOB composite output index climbed unexpectedly to 52.2 in October from 51.2 in September. The reading was expected to fall to 51.0.

RTTNews | 2h 21min ago

Bay Street Likely To Open With Positive Bias

Higher Canadian and U.S. futures, firm crude oil prices and data showing a smaller than expected increase in U.S. consumer price inflation in the month of September suggest a positive start for the Canadian market on Friday.

RTTNews | 2h 54min ago

U.S. Consumer Prices Rise Slightly Less Than Expected In September

A closely watched report released by the Labor Department on Friday showed consumer prices in the U.S. increased by slightly less than expected in the month of September.

RTTNews | 3h 17min ago

FTSE 100 Retreats After Positive Start

U.K. stocks opened on a positive note Friday morning after data showed an unexpected increase in UK retail sales in September. However, the market turned a bit easy subsequently, due largely to selling in some mining stocks as metal prices dropped from record highs.

RTTNews | 4h 24min ago

Pound Falls Against Majors

The pound weakened against other major currencies in the European session on Friday.

RTTNews | 4h 45min ago

CAC 40 Down Nearly 0.5% In Cautious Trade

French stocks are showing weakness on Friday after preliminary data showed a drop in the nation's services sector activity in the month of October. Investors are also reacting to corporate earnings updates, and awaiting the release of delayed U.S. inflation figures for September.

RTTNews | 5h 11min ago

EURUSD	1.16251	GBPUSD	1.32944	AUDUSD	0.6509
USDJPY	152.822	USDCAD	1.40139	USDCHF	0.79594