Bay Street Seen Opening On Mixed Note; Jobs Data In Focus

RTTNews | Pred 977 dňami

(RTTNews) - Canadian shares look headed for a mixed start on Friday. Jobs data from the U.S. and Canada hold the key for the market's movements.

Data on Canadian employment for the month of September is due at 8:30 AM ET. The U.S. Labor Department is also set to release its non-farm payrolls data for the month of September.

The Canadian economy shed 39,700 jobs in August of 2022 as against expectations for an addition of about 15,000 jobs. The unemployment rate rose to 5.4% in August from the record=low of 4.9% observed in the previous two months.

In Canadian company news, MTY Food Group Inc (MTY.TO) reported Friday that its third-quarter net income attributable to owners reached C$22.44 million or C$0.92 per share, down from last year's C$24.34 million or C$0.98 per share.

The Canadian market ended on a weak note on Thursday, extending losses from the previous session, as rising concerns about inflation and looming rate hikes weighed on stocks.

Hawkish comments from some Federal Reserve officials that the central bank needs to remain aggressive with its monetary policy, and rising crude oil prices, which could push up inflation, have raised the possibility of another steep interest rate hike by the Fed at its next meeting.

The benchmark S&P/TSX Composite Index ended with a loss of 256.08 points or 1.33% at 18,979.01, nearly 85 points off the day's low of 18,895.40.

Asian stocks declined on Friday as investors digested hawkish comments from some Fed officials and awaited a key U.S. jobs report due later in the day for further clarity on labor market conditions.

European stocks are seeing sluggish movements in lackluster trade as investors await U.S. jobs data for clarit on labor market conditions.

In commodities trading, West Texas Intermediate Crude oil futures for September are up $0.91 or 1.03% at $89.36 a barrel.

Gold futures are down $4.70 or 0.27% at $1,716.10 an ounce, while Silver futures are up marginally at $20.685 an ounce.

Gold Dips As US-China Trade Talks Continue

Gold prices dipped on Tuesday, ahead of US inflation report and ongoing US-China official talks, which is now the focus of investors from all over the world. Front Month Comex Gold for June delivery lost $11.20 (or 0.34%) to $3320.90 per troy ounce on Tuesday. Front Month Comex Silver for June delivery lost $14.60 cents (or 0.40%) to $36.542 today. The much-anticipated high-level trade talks between the world's two largest economies, U.S. and China, began on Monday in London and continued for the second day today. On the economic data front, the US Labor Department will release Consumer Price Index (CPI) data on Wednesday, which may help to determine the Federal Reserve's monetary policy before the Fed's June 17-18 meeting. Meanwhile, the World Bank, in its biannual Global Economic Prospects, has cut the global growth forecast to 2.3% from 2.7% for the current year citing "trade barriers" as a reason behind the global slowdown.

RTTNews | Pred 1 h 41 min

Crude Oil Prices Fade As US-China Talks Progress

Crude oil prices were down on Tuesday amidst uncertainty over trade talks between China and the United States continued, although the outcome remains uncertain. WTI oil closed down by $0.31 to settle at $64.98 per barrel. August Brent crude was last seen down by $0.03 to $67.01. To ease the standstill created by the reciprocal tariffs imposed by U.S. President Donald Trump and China, high-level officials from both nations convened at London on Monday to discuss steps to soften the conflict. As the talks went on for the second day today, Trump told reporters at the White House that the talks were "going well" and that he was "only getting good reports." While U.S. Treasury Secretary Scott Bessent described Monday's talks as "good meeting," the Commerce Secretary Howard Lutnick called them as "fruitful." On the geopolitical front, however, Russia showed no sign of relenting on its war with Ukraine and continued its attacks. Limiting the downside, the U.S. Energy Information Administration has reported today that US crude oil production is likely to decline over the next 18 months - while the approach of the summer driving season is also good news.

RTTNews | Pred 1 h 47 min

Canadian Dollar Appreciates Amid Risk Appetite

The Canadian dollar climbed against its major counterparts in the New York session on Tuesday, as investors monitored trade talks between the U.S. and China that continued for a second day.

RTTNews | Pred 2 h 28 min

Swiss Market Ends Marginally Down

Save for a very brief while at the start, the Switzerland market stayed weak on Tuesday as investors refrained from making significant moves, choosing to wait for directional clues. Investors awaited the outcome of the high-level trade discussions between U.S. and Chinese officials in London.

RTTNews | Pred 3 h 53 min

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Tuesday with investors mostly making cautious moves as they awaited the outcome of the ongoing Sino-U.S. trade talks in London. German stocks are drifting lower on Tuesday as investors await the outcome of high-level U.S. - China trade talks in London.

RTTNews | Pred 4 h 9 min

TSX Up Marginally; Energy Stocks Rise

After a flat start and a subsequent climb up north, the Canadian market retreated Tuesday morning, and at a little past noon, was up marginally, led by gains in energy, consumer and communications sectors. Investors are cautiously optimistic about some positive progress in U.S.-China trade relations.

RTTNews | Pred 5 h 16 min

U.S. Stocks Mostly Subdued In Lackluster Trade

U.S. stocks are turning in a mixed performance in lackluster trade on Tuesday as traders await the outcome of the ongoing trade talks between China and the U.S. in London. Trade negotiations between the world's two largest economies commenced on Monday, and no big breakthrough seems to have been arrived as yet.

RTTNews | Pred 5 h 52 min

Eurozone Investor Confidence Strongest In A Year: Sentix

Euro area investor morale rose to the highest level in a year in June, driven by the economic recovery in Germany, survey data from the behavioral research institute Sentix showed Tuesday. The investor sentiment index rose to +0.2 in June from -8.1 in May. This was the highest reading since June 2024 and remained well above economists' forecast of -6.0.

RTTNews | Pred 8 h 47 min

EURUSD	1.14244	GBPUSD	1.34968	AUDUSD	0.65221
USDJPY	144.813	USDCAD	1.36704	USDCHF	0.82218

Advertisement

Bay Street Seen Opening On Mixed Note; Jobs Data In Focus