TSX Snaps 5-day Losing Streak, Ends Modestly Higher

RTTNews | 1128 dni temu

(RTTNews) - Despite suffering a mild setback after a positive start, the Canadian market snapped a five-session losing streak and ended modestly higher on Friday, led by gains in energy shares.

A few stocks from consumer discretionary, financials and industrials sectors too closed higher. Healthcare stocks, which had a good outing on Thursday, ended sharply lower.

Positive cues from European and the U.S. markets, where stocks moved higher after remarks from two of the Federal Reserve officials helped ease concerns about a sharper interest rate hike by the central bank later this month.

Also, fairly encouraging economic data from the U.S. and upbeat earnings updates from some top companies helped lift sentiment.

The benchmark S&P/TSX Composite Index, which dropped to 18,311.57 this morning, after having advanced to 18,500.10 at the start, ended the session with a gain of 65.39 points or 0.36% at 18,394.45.

Baytex Energy (BTE.TO), Crescent Point Energy (CPG.TO), Cenovus Energy (CVE.TO) and Suncor Energy (SU.TO) gained 1.5 to 3.6% on strong volumes.

Teck Resources (TECK.A.TO), Methanex Corporation (MX.TO), Boyd Group Services (BYD.TO) and Precision Drilling Corporation (PD.TO) gained 5 to 5.5%.

Kinaxis Inc (KXS.TO), Magna International (MG.TO), Toromont Industries (TIH.TO) and Cargojet (CJT.TO) also moved up sharply.

Bank of Nova Scotia (BNS.TO), Toronto-Dominion Bank (TD.TO), Canadian Natural Resources (CNQ.TO) and Manulife Financial Corporation (MFC.TO) posted modest gains.

Cogeco Communications (CCA.TO), Cogeco Inc (CGO.TO), Metro Inc (MRU.TO), Franco-Nevada Corporation (FNV.TO), George Weston (WN.TO), Canadian Tire Corporation (CTC.A.TO) and CGI Inc (GIB.A.TO) closed weak.

On the economic front, data from Statistics Canada showed wholesale Sales in Canada increased 1.6% in the month of May, after seeing a 0.5% drop in the previous month.

Another data from Statistics Canada showed new motor vehicles sales in Canada rose to 150,370 in May, after seeing a revised 144,730 units increase a month earlier.

Euro Higher Against Majors

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

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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.

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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.

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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 | 2 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 | 2 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 | 2 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 | 2 dni temu

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