Bay Street Likely To Open On Mixed Note

RTTNews | 555 dni temu

(RTTNews) - Subdued commodity markets and European stocks point to a mixed start for Canadian shares on Wednesday. The focus will be on the release of the minutes of the Federal Reserve's most recent monetary policy meeting, due later in the day.

Gildan Activewear Inc. (GIL.TO) reported adjusted net earnings of $129.2 million for the fourth quarter ended December 31, 2023, compared with adjusted net earnings of $117.2 million in the year-ago quarter. Adjusted net income for the full year was $452.6 million, compared to $574.7 million in the previous year.

Sprott Inc. (SII.TO) reported fourth quarter net income of $9.7 million ($0.38 per share), up 32% from $7.3 million ($0.29 per share) for the quarter ended December 31, 2022. On a full-year basis, net income was $41.8 million ($1.66 per share), up 137% from $17.6 million ($0.70 per share) for the year ended December 31, 2022.

On the economic front, a report on new housing prices in Canada for the month of January is due at 8:30 AM ET.

The Canadian market ended modestly lower on Tuesday after showing a lack of direction early on in the session. The benchmark S&P/TSX Composite Index slipped 38.08 points or 0.2% to 21,217.53, giving back ground after inching up to its best closing level in well over a year last Friday.

Technology stocks followed the U.S. peers lower ahead of the release of quarterly results from Nvidia (NVDA) after the close of trading on Wednesday.

Asian stocks ended mixed on Wednesday, with mainland Chinese and Hong Kong markets rallying after authorities announced more steps to revive investor confidence.

Markets elsewhere across Asia ended on a subdued note ahead of Nvidia's quarter earnings and the Fed meeting minutes release.

European stocks are turning in a mixed performance with investors reacting to some disappointing earnings updates, and looking ahead to the Federal Reserve's minutes of the latest monetary policy meeting.

In commodities, West Texas Intermediate Crude oil futures are down $0.37 or 0.47% at $76.67 a barrel.

Gold futures are down slightly at $2,039.10 an ounce, while Silver futures are lower by $0.031 or 0.13% at $23.105 an ounce.

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | 23 minut temu

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | 1g 6 minut temu

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | 1g 36 minut temu