Canadian Market Looks Headed For Positive Start

RTTNews | 4 days ago
Canadian Market Looks Headed For Positive Start

(RTTNews) - Canadian shares look headed for a positive start TWednesday morning as gold and silver stocks are likely to find support on higher metal prices. Optimism about an interest rate cut by the Federal Reserve in September is likely to contribute as well to the positive mood on Bay Street.

The Canadian market ended weak on Tuesday, pushed down by losses in energy stocks as oil prices fell for a third straight day amid concerns about the outlook for demand.

Shares from industrials, communications and technology sectors were among the other notable losers.

The benchmark S&P/TSX Composite Index, which stayed weak right through the day's session, ended with a loss of 83.63 points or 0.38% at 22,042.50.

Asian shares ended mixed on Wednesday, with Japanese markets reaching another record high, buoyed by a weaker yen and strong gains in technology shares as Nvidia supplier TSMC's sales surged past expectations on AI infrastructure demand.

The dollar recovered from a three-week low and Treasury yields rose slightly as investors eyed the second round of testimony by Federal Reserve Chair Jerome Powell.

European stocks are up in positive territory amid optimism about a rate cut by the Federal Reserve in September, even as investors await the second round of testimony by Jerome Powell, and crucial U.S. inflation readings.

In commodities, West Texas Intermediate Crude oil futures are down $0.25 or 0.31% at $81.16 a barrel.

Gold futures are gaining $12.50 or 0.52% at $2,380.40 an ounce, while Silver futures are up $0.159 or 0.51% at $31.215 an ounce.

read more
TSX Closes At Fresh Record High

TSX Closes At Fresh Record High

The Canadian market scaled fresh intraday and closing highs on Friday, extending recent gains, as investors picked up stocks again, on rising hopes of interest rate cuts by the Federal Reserve this year.
RTTNews | 1 day ago
Dollar Extends Losses Against Major Counterparts

Dollar Extends Losses Against Major Counterparts

Despite data showing a bigger than expected increase in U.S. Producer Price Index, the U.S. dollar fell on Friday, extending recent losses, on rising prospects of an interest rate cut by the Federal Reserve amid signs of cooling consumer price inflation.
RTTNews | 1 day ago
Swiss Market Ends Higher For 3rd Straight Day

Swiss Market Ends Higher For 3rd Straight Day

The Switzerland market closed higher on Friday, extending gains to a third straight session, amid continued optimism about the outlook for U.S. interest rates, and quarterly earnings.
RTTNews | 2 days ago
European Stocks Close Higher On Rate Cut Hopes, Earnings Optimism

European Stocks Close Higher On Rate Cut Hopes, Earnings Optimism

European stocks closed on a positive note on Friday amid optimism about the outlook for Fed interest rates after soft U.S. consumer price inflation data, and slightly dovish comments from Fed Chair Jerome Powell during his congressional testimony earlier in the week.
RTTNews | 2 days ago
U.S. Dollar Weakens Despite Hot PPI Data

U.S. Dollar Weakens Despite Hot PPI Data

The U.S. dollar declined against its major counterparts in the New York session on Friday, despite data showing a higher-than-expected increase in producer prices in June.
RTTNews | 2 days ago
U.S. Consumer Sentiment Unexpectedly Drops To Eight-Month Low In July

U.S. Consumer Sentiment Unexpectedly Drops To Eight-Month Low In July

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of July, according to preliminary data released by the University of Michigan on Friday. The report said the consumer sentiment index fell to 66.0 in July from 68.2 in June. Economists had expected the index to inch up to 68.5.
RTTNews | 2 days ago