Bay Street Likely To Open On Positive Note

RTTNews | 171 dni temu

(RTTNews) - Canadian shares are likely to open higher Wednesday morning, tracking positive global cues, and encouraging earnings from National Bank of Canada.

The market is also likely to react positively to news about U.S. and Ukraine agreeing on a minerals deal. U.S. President Donald Trump's $4.5 trillion tax-cut and border security agenda may also lift sentiment. The agenda will be sent to the U.S. Senate after passing the Republican-controlled House of Representatives.

The National Bank of Canada reported first-quarter net income of $997 million, up 8% from $922 million in the first quarter of 2024. First-quarter diluted earnings per share stood at $2.78 compared to $2.59 in the first quarter of 2024.

George Weston Ltd. (WN.TO) reported adjusted net earnings of $415 million for the fourth-quarter of 2024, an increase of $73 million, or 21.3%, compared to earnings in the year-ago quarter.

The Canadian market closed higher on Tuesday as a firm show by Bank of Montreal thanks to encouraging results, and gains in consumer staples and real estate sectors outweighed weakness in energy, materials and technology sectors.

Worries about imminent tariffs by Trump administration limited the market's upside.

The benchmark S&P/TSX Composite Index closed up 52.72 points or 0.21% at 25,203.98, recovering well from an early low of 24,946.06.

Asian markets ended mixed on Wednesday as inflation and trade war fears offset Chinese AI optimism.

Tariff worries prevailed as U.S. President Donald Trump ordered a probe into potential tariffs on copper imports to boost U.S. production of the critical metal.

Treasury yields rebounded but the dollar remained undermined by growth worries. Gold lingered near one-week lows despite rising bets on earlier Fed rate cuts.

European stocks are up firmly in positive territory with investors reacting to earnings updates and news about U.S. and Ukraine agreeing on a minerals deal

In commodities, West Texas Intermediate crude oil futures are down $0.19 or 0.27% at $68.74 a barrel.

Gold futures are gaining $9.70 or 0.33% at $2,928.70 an ounce, while Silver futures are up $0.319 or 1% at $32.145 an ounce.

Euro Higher Against Majors

The euro appreciated against its major counterparts in the New York session on Friday.

RTTNews | 1 dni temu

TSX Down Marginally In Lackluster Trade

Canadian stocks are turning in a mixed performance in somewhat lackluster trade on Friday, with investors focusing on the upcoming US - Russia summit that could help end the war in Ukraine.

RTTNews | 1 dni temu

Swiss Market Ends On Firm Note

The Switzerland market ended on a firm note on Friday with stocks from across several sectors gaining ground on sustained buying support. The mood remained positive right through the day's session, amid some expectations about an end to the Ukraine war.

RTTNews | 1 dni temu

European Stocks Close Mixed After Cautious Session

European stocks closed on a mixed note on Friday with investors largely staying cautious, awaiting the meeting of the Presidents of the U.S. and Russia, and continuing to assess Trump administration's tariff moves and their impact on global economic growth.

RTTNews | 1 dni temu

U.S. Business Inventories Rise In Line With Estimates In June

A report released by the Commerce Department on Friday showed business inventories in the U.S. increased in line with economist estimates in the month of June. The Commerce Department said business inventories rose by 0.2 percent in June after coming in unchanged in May. The uptick matched expectations.

RTTNews | 1 dni temu

U.S. Consumer Sentiment Unexpectedly Deteriorates In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index fell to 58.6 in August from 61.7 in July. Economists had expected the index to inch up to 62.0.

RTTNews | 1 dni temu

U.S. Industrial Production Pulls Back Slightly In July

A report released by the Federal Reserve on Friday showed a modest decrease by U.S. industrial production in the month of July. The Fed said industrial production edged down by 0.1 percent in July after climbing by an upwardly revised 0.4 percent in June. Economists had expected industrial production to come in unchanged.

RTTNews | 1 dni temu

New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

The Federal Reserve Bank of New York released a report on Friday showing regional manufacturing activity unexpectedly grew at a faster rate in the month of August. The New York Fed said its general business conditions index climbed to 11.9 in August from 5.5 in July, with a positive reading indicating growth. Economists had expected the index to fall to 0.5.

RTTNews | 1 dni temu

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