Bay Street Likely To Open On Firm Note

RTTNews | 760 dias atrás

(RTTNews) - Canadian shares look headed for a firm start Thursday morning, tracking positive European markets and higher commodity prices.

The market is also likely to gain amid easing fears about a U.S. recession this year. Investors will also be reacting a slew of earnings updates.

The Fed raised its interest rate by 25 basis points as widely expected. The decision to increase rates came as the Fed noted inflation remains elevated, while U.S. economic activity has been expanding at a moderate pace and job gains have been robust in recent months.

In his post-meeting press conference Fed Chair Jerome Powell said it is possible the central bank could raise rates again in September or hold steady, noting the central bank plans to take a meeting by meeting approach.

Cenovus Energy Inc. (CVE.TO) reported second-quarter net earnings of $866 million, compared with $636 million in the previous quarter.

Canadian Utilities Ltd. (CU.TO) reported adjusted net earnings of $100 million, or $0.37 per share for the second quarter, compared to $136 million, or $0.51 per share, in the second quarter of the previous year.

FirstService Corporation (FSV.TO) reported consolidated revenues of $1.12 billion for the second quarter, up 20% compared to consolidated revenues in the year-ago quarter.

ATCO Ltd. (ACO.TO) posted adjusted net earnings of $87 million ( $0.77 per share) in the second quarter, $5 million ($0.04 per share) lower compared to $92 million ($0.81 per share) in the second quarter of 2022.

On the economic front, a report from the Canadian Federation of Independent Business said Canada's CFIB Business Barometer long-term optimism index edged higher by 0.2 points from the previous month to 54.2 in July.

The Canadian market ended slightly up on Wednesday after a cautious session. Stocks turned in a mixed performance with investors reacting to quarterly earnings news, and the Federal Reserve's monetary policy statement.

The benchmark S&P/TSX Composite Index ended with a gain of 10.11 points or 0.05% at 20,561.64, after scaling a low of 20,492.43 and a high of 20,596.18 intraday.

Asian stocks gained on Thursday after the U.S. Federal Reserve reiterated its fight against inflation and Chair Jerome Powell said staff economists at the central bank no longer foresee a recession.

European stocks are notably higher with investors reacting to the Fed's interest rate decision and awaiting the ECB rate announcement. The mood is positive thanks to the Fed downplaying the prospect of a U.S. recession this year.

In commodities, West Texas Intermediate Crude oil futures are up $0.87 or 1.1% at $79.65 a barrel.

Gold futures are up $8.10 or 0.41% at $1,978.20 an ounce, while Silver futures are gaining $0.305 or 1.2% at $25.275 an ounce.

Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market trading on Tuesday, giving up the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling well below the 8,950 level, with weakness in iron ore miners and a mixed performance across most other sectors.

RTTNews | 41 minutos atrás

Asian Markets Track Wall Street Lower

Asian stock markets are trading mostly lower on Tuesday, following the broadly negative cues from Wall Street overnight, as traders looked to cash in on the recent strong gains and remain cautious ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation. Asian markets closed mostly higher on Monday.

RTTNews | 1 h 2 min atrás

Sensex, Nifty Seen Lower As US Notifies India Of Additional Tariffs

Indian shares may open on a weak note on Tuesday as enthusiasm over potential Federal Reserve rate cuts faded and caution set in ahead of the release of crucial U.S. inflation data as well as Nvidia quarterly results.

RTTNews | 1 h 33 min atrás

Lower Open Called For Thai Stock Market

The Thai stock market has finished higher in two straight sessions, collecting almost 20 points or 1.6 percent along the way. The Stock Exchange of Thailand now sits just above the 1,260-point plateau although it figures to open in the red on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2 h 13 min atrás

Japanese Market Significantly Lower

The Japanese stock market is trading significantly lower on Tuesday, reversing the gains in the previous two sessions, following the broadly negative cues from Wall Street overnight, with the Nikkei 225 falling below the 42,400 level, with weakness across most sectors led by index heavyweights, exporters and financial stocks.

RTTNews | 2 h 40 min atrás

Indonesia Bourse May Hand Back Monday's Gains

The Indonesia stock market on Monday wrote a finish to the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,925-point plateau although it's looking at a soft start on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2 h 43 min atrás

Hong Kong Shares May Be Stuck In Neutral On Tuesday

The Hong Kong stock market has moved higher in two straight sessions, improving more than 825 points or 3.4 percent along the way. The Hang Seng Index now rests just beneath the 25,830-point plateau although it may open under pressure on Tuesday. The global forecast for the Asian markets is soft, with profit-taking likely on the menu. The European markets were mixed and the U.S. bourses were down and the Asian markets are also expected to open under water.

RTTNews | 2 h 58 min atrás

Australian Market Modestly Lower

The Australian stock market is trading modestly lower on Tuesday, recouping the slight gains in the previous session, following the broadly negative cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,950 level, with weakness in iron ore miners, financial and technology stocks partially offset by gains gold miners.

RTTNews | 3 h 1 min atrás

EURUSD	1.16246	GBPUSD	1.34511	AUDUSD	0.64739
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