Canadian Stocks Likely To Move In Tight Range In Cautious Trade

RTTNews | Před 535 dny

(RTTNews) - Amid a lack of fresh data from the U.S., and subdued commodities markets, Canadian shares are likely to move in a tight range for much of the day's session on Friday. Canadian retail sales data might provide some direction early on in the session.

Dovish comments from the Federal Reserve and the Bank of England, a surprise rate cut by the Swiss National Bank, and recent soft Canadian inflation report may continue to aid sentiment and limit market's downside, if any.

Canadian retail sales data for the month of January is due at 8:30 AM ET. According to preliminary estimates, retail sales in Canada likely fell 0.4% month-over-month in January. Retail sales increased 0.9% in December, revised from the preliminary estimate of 0.7%.

In corporate news, George Weston Limited (WN.TO) announced that it has entered into an automatic share purchase plan with a broker in order to facilitate repurchases of Weston's common shares.

Loblaw Companies Limited (L.TO) too has announced that it has entered into an automatic share purchase plan with a broker for repurchasing the company's common shares.

The Canadian benchmark S&P/TSX Composite Index very nearly breached a record high on Thursday, but pared most of its gains and ended the day's session just modestly higher as investors took some profits at higher levels in the final hour.

The S&P/TSX Composite Index, which climbed to 22,197.06, ended the day with a gain of 41.55 points or 0.19% at 22,087.26.

Asian stocks settled on a mixed note on Friday with investors reacting to an uptick in Japanese inflation, and assessing future interest rate moves by central banks. The Dollar's rebound as well as mixed corporate earnings weighed on sentiment.

European stocks are turning in a mixed performance in cautious trade following recent record highs.

In commodities, West Texas Intermediate Crude oil futures are down $0.12 or 0.16% at $80.95 a barrel.

Gold futures are down $17.60 or 0.81% at $2,167.10 an ounce, while Silver futures are lower by $0.282 or 1.1% at $24.725 an ounce.

Swiss Market Ends Weak

The Switzerland market ended on a weak note on Monday, weighed down by concerns about political instability in France. Optimism about an interest rate cut by the Federal Reserve helped limit market's downside.

RTTNews | Před 3 h 14 min

European Stocks Close Mostly Higher On Fed Rate Cut Hopes

European stocks closed higher on Monday, thanks to encouraging German economic data, and optimism about an interest rate cut by the Federal Reserve next week. Concerns about political uncertainty in France weighed and limited markets' upside.

RTTNews | Před 3 h 37 min

TSX Slips After Positive Start; Canada Goose Holdings Soars On Rating Upgrade

The Canadian market, which retreated after a slightly positive start Monday morning, remains in negative territory a little past noon, with stocks from communications, consumer staples and industrials sectors under selling pressure. Materials stocks are faring well, limiting market's downside.

RTTNews | Před 4 h 45 min

American Consumers' Inflation Expectations Rise, Job Finding Hopes Record Low - NY Fed Survey

U.S. consumers' inflation expectations for the one-year ahead ticked up in August, while their hopes of finding a job sank to a record low, results of a monthly survey by the Federal Reserve Bank of New York revealed on Monday.

RTTNews | Před 5 h 34 min

German Industrial Output Rebounds; Exports Fall

Germany's industrial output expanded for the first time in four months in July, while exports declined on weaker demand from the United States and China. Industrial production rose 1.3 percent month-on-month in July, data from Destatis showed Monday. The expansion reversed June's decrease of 0.1 percent, which was revised sharply from a 1.9 percent drop estimated initially.

RTTNews | Před 7 h 38 min

Dollar Closes Flat Despite A Jobs Data Led Tumble

The dollar finished trading on a flat note during the week ended September 5 despite whipsawing movements over the course of the week.

RTTNews | Před 8 h 53 min

Bay Street Likely To Open Higher On Firm Oil Prices, Rate Cut Hopes

Canadian stocks look headed for a positive start Monday morning, tracking positive cues from Asian and European markets, and higher crude oil prices. Expectations of interest rate cuts from the Bank of Canada and the Federal Reserve next week may also aid sentiment.

RTTNews | Před 9 h 7 min

China Exports Growth Softens More Than Forecast

China's exports growth moderated more than expected in August as frontloading gains from the U.S. started to fade but demand from Europe and Asean countries picked up strongly. Exports grew 4.4 percent year-on-year in August, which was slower than the 7.2 percent rise in July, the customs office reported Monday. This was also weaker than forecast of 5.0 percent.

RTTNews | Před 9 h 11 min

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