TSX Ends Weak For 2nd Straight Session

RTTNews | 695 일 전

(RTTNews) - The Canadian market ended modestly lower on Monday after moving in a very tight band in lackluster trade.

With the U.S. market closed for Juneteenth, and Federal Reserve Chair Jerome Powell's congressional testimonies and the Bank of England's monetary policy due later in the week, the mood in the Canadian market was very cautious.

The benchmark S&P/TSX Composite Index, which moved between 19,917.62 and 19,985.21, ended with a loss of 41.16 points or 0.21% at 19,934.21.

Industrials shares Ballard Power Systems (BLDP.TO), Stantec Inc (STN.TO), Boyd Group Services (BYD.TO), WSP Global (WSP.TO) and Snc-Lavali (SNC.TO) lost 1 to 2%.

Consumer discretionary shares Restaurant Brands International (QSR.TO), Park Lawn Corp (PLC.TO), Sleep Country Canada Holdings (ZZZ.TO) and Magna International (MG.TO) ended weak.

Communications shares Cogeco Communications (CCA.TO) and Quebecor Inc (QBR.B.TO) ended lower by about 2% and 1.25%, respectively.

National Bank of Canada (NA.TO), CDN Western Bank (CWB.TO), Onex Corp (ONEX.TO), IGM Financial Inc (IGM.TO) and Power Corporation of Canada (POW.TO) were among the notable losers in the financials sector.

Materials shares Fortuna Silver Mines (FVI.TO) and Iamgold Corp (IMG.TO) lost about 3.2% and 3.1%, respectively. Eldorado Gold (ELD.TO), Novagold (NG.TO), Kinross Gold (K.TO) and Barrick Gold Corp (ABX.TO) ended lower by 1.4 to 1.7%.

Technology stock Hut 8 Mining Corp (HUT.TO) surged 8.4%. Docebo Inc (DCBO.TO), Converge Technology Solutions (CTS.TO), Alithya Group (ALYA.TO), Bitfarms (BTTF.TO) and Tecsys Inc (TCS.TO) also posted strong gains.

On the economic front, data from Statistics Canada showed raw materials prices in Canada decreased by 18.4% in May, the lowest reading in two years.

The data also showed producer prices in Canada slumped by 6.3% year-on-year in May 2023, after an upwardly revised 3.8% decline in the prior month.

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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.

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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 | 33 분 전

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 | 45 분 전

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 | 1 시간 39 분 전

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 | 1 시간 55 분 전

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 | 1 시간 57 분 전

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 | 1 시간 59 분 전

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.

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TSX Ends Weak For 2nd Straight Session