Bay Street Likely To Open On Mixed Note; Fed Policy Eyed

RTTNews | Pred 47 dňami
Bay Street Likely To Open On Mixed Note; Fed Policy Eyed

(RTTNews) - It's likely to be a mixed start for Canadian shares Wednesday morning, with investors tracking commodity prices and earnings updates, and looking ahead to the Federal Reserve's monetary policy announcement.

Cenovus Energy Inc (CVE.TO) reported first-quarter net earnings of $1,176 million, compared with $636 million in the year-ago quarter.

Loblaw Companies Ltd. (L.TO) reported adjusted net earnings of $537 million for the first-quarter of 2024, up $32 million or 6.3%, compared to year-ago quarter.

CGI Inc (GIB.A.TO) reported net earnings of $426.9 million for the second-quarter, up 1.8% year-over-year.

Fortis Inc. (FTS.TO) reported first-quarter net earnings of $459 million, or $0.93 per common share, up from $437 million, or $0.90 per common share in the year-ago quarter.

A report on Canadian manufacturing activity in the month of April is due at 9:30 AM ET. The S&P Global Canada Manufacturing PMI edged 0.1 point higher from the previous month to 49.8 in March of 2024, pointing to the eleventh consecutive contraction in the Canadian factory activity.

The Canadian market suffered one of its worst setbacks in several months on Tuesday as stocks tumbled on concerns about growth and interest rate outlook, and weak commodity prices, ahead of the Federal Reserve's monetary policy announcement.

The benchmark S&P/TSX Composite Index ended down by 297.08 points or 1.35% at 21,714.54.

In commodities, West Texas Intermediate Crude oil futures are down $1.39 or 1.7% at $80.54 a barrel.

Gold futures are up $4.00 or 0.17% at $2,306.90 an ounce, while Silver futures are gaining $0.101 or nearly 0.4% at $26.755 an ounce.

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U.S. Dollar Lower Against Majors

U.S. Dollar Lower Against Majors

The U.S. dollar weakened against its major counterparts in the New York session on Monday, as investors awaited central bank decisions and comments from Federal Reserve officials for clues about the central bank's likely monetary policy moves.
RTTNews | Pred 6 h 4 min
Swiss Market Ends Lower Again

Swiss Market Ends Lower Again

The Switzerland market briefly advanced to positive territory after a weak start Monday morning, but retreated swiftly and spent the rest of the day's session in the red as investors stayed wary of picking up stocks amid a lack of significant triggers.
RTTNews | Pred 8 h 56 min
European Stocks Close Mixed After Choppy Session

European Stocks Close Mixed After Choppy Session

European stocks closed on a somewhat mixed note on Monday after a choppy ride as investors tracked the developments on the political front, and awaited interest rate decisions from the Bank of England and the Swiss National Bank, and more economic data for clues about global economic growth.
RTTNews | Pred 9 h 12 min
Canadian Market Notably Lower On Widespread Selling

Canadian Market Notably Lower On Widespread Selling

The Canadian market is down firmly in negative territory a little past noon on Monday with stocks from several sectors recording sharp losses due to sustained selling pressure as investors await fresh economic data for clues about the outlook for Fed interest rates.
RTTNews | Pred 9 h 42 min
Euro Advances After Far-right Leader Le Pen's Remarks

Euro Advances After Far-right Leader Le Pen's Remarks

The euro was higher against its major counterparts in the New York session on Monday, as promising comments from far-right leader Marine Le Pen helped restore calm in financial markets.
RTTNews | Pred 10 h 22 min
Dollar Gains After A Hawkish FOMC

Dollar Gains After A Hawkish FOMC

A hawkish Fed that scaled back rate cut expectations boosted the U.S. dollar during the week ended June 14. The dollar also benefitted from weakness in the euro beset by political uncertainty in France and the yen's prospects hurt by a dovish monetary policy update from the Bank of Japan.
RTTNews | Pred 11 h 53 min
New York Manufacturing Index Indicates Notably Slower Contraction In June

New York Manufacturing Index Indicates Notably Slower Contraction In June

New York manufacturing activity contracted at a notably slower rate in the month of June, according to a report released by the Federal Reserve Bank of New York on Monday. The New York Fed said its general business conditions index climbed to a negative 6.0 in June from a negative 15.6 in May, although a negative reading still indicates contraction.
RTTNews | Pred 12 h 41 min