Bay Street Likely To Open On Mixed Note; Trade Talks, Earnings In Focus

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(RTTNews) - Canadian shares are likely to open on a mixed note Thursday morning with investors focusing on trade talks between Canadian and U.S. officials, and reacting to the latest batch of economic data.

The focus will also be on U.S. President Donald Trump's visit to the Federal Reserve today. Ahead of next week's policy meeting of the Fed, the visit looks significant.

Data from Statistics Canada showed retail sales in Canada dropped by 1.1% in the month of May, after a 0.4% increase in the previous month.

According to preliminary estimates, retail sales in Canada increased 1.6% in June over the previous month.

Manufacturing sales in Canada likely moved up 0.4% in June, according to preliminary estimates.

Investors will also be digesting a slew of earnings announcements from big name Canadian companies.

Loblaw Companies reported adjusted net earnings of $721 million for the second-quarter, an increase of $57 million , or 8.6%, compared to a year-ago.

The company also announced that its Board approved a stock split of the company's outstanding common shares. The split will be implemented by way of a stock dividend where Loblaw will issue to shareholders three additional common shares for each common share held. The stock split will not dilute shareholders' equity.

FirstService Corp (FSV.TO) reported adjusted EPS of $1.71 for the quarter ended June 2025, compared with $1.36 in the year-ago quarter.

Mullen Group (MTL.TO) reported a net income of $25.6 million in the second-quarter of 2025, compared to $32.9 million in the year-ago quarter.

Canadian stocks closed higher on Wednesday, tracking positive cues on the tariff front as US confirmed major trade deals with Japan and the Philippines.

The benchmark S&P/TSX Composite Index settled at a fresh record high of 27,416.41, up by 51.98 or 0.19%.

US President Donald Trump announced a trade pact between the US and Japan under which Japanese imports will face 15% tariff against the earlier said 25%.

Asian stocks advanced on Thursday as companies like Alphabet and SK Hynix posted encouraging earnings and media reports suggested that the EU and U.S. are closing in on a trade deal that would impose 15 percent tariffs on European imports.

European stocks are extending gains from the previous session, amid rising optimism over a potential trade deal between the U.S. and EU. Investors are also reacting to a slew of corporate earnings updates.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.80 or 1.25% at $66.05 a barrel.

Gold futures are down $30.10 or 0.89% at $3,367.50 an ounce, while Silver futures are down $0.213 or 0.53% at $39.300 an ounce.

Swiss Market Ends Marginally Down

After an early sharp drop, the Switzerland market recovered some lost ground Monday morning, but stayed in negative territory right through the day's trading session, as investors largely stayed cautious, waiting for directional clues.

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European Markets Close On Firm Note As Stocks Rebound On Bargain Hunting

European markets closed on a firm note on Monday, rebounding well from recent losses, as investors indulging in some bargain hunting after previous week's setback following U.S. President Donald Trump's sweeping tariff announcement.

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U.S. Factory Orders Pull Back Sharply In June

After reporting a substantial increase by new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Monday showing factory orders pulled back sharply in the month of June. The Commerce Department said factory orders dove by 4.8 percent in June after soaring by an upwardly revised 8.3 percent in May.

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Weak Jobs Data Limits Dollar's Rebound

A smaller-than expected addition to non-farm payrolls curtailed the dollar's rally fueled by a hawkish Fed stance, higher-than-expected PCE-inflation readings, as well as anxiety ahead of the U.S.-China trade talks and the looming trade tariff deadline.

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Eurozone Investor Sentiment Weakens Unexpectedly

Euro area investor confidence deteriorated unexpectedly in August as the newly reached trade deal with the U.S. deepened concerns about the current economic situation as well as the outlook, data from the behavioral research institute Sentix showed on Monday. The Sentix investor sentiment index fell steeply to -3.7 in August from 4.5 in July. The measure was expected to climb to 6.2.

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Bay Street Seen Opening On Cautious Note

Canadian stocks may open on a mixed note on Monday with investors likely to stay cautious ahead of implementation of levies imposed by U.S. President Donald Trump, and a slew of earnings announcements due this week. Weak oil prices may weigh a bit.

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FTSE 100 Modestly Higher; Lloyds Banking Group Rises Nearly 8%

The UK market is up in positive territory on Monday with stocks from the financial sector contributing significantly to the upmove after the outcome from the UK's motor finance investigation turned out to less severe than feared, with potential compensation estimated at 9 billion pounds, much less than the expected quantum o 30 billion pounds.

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Indian Rupee Falls To 4-day Low Against U.S. Dollar

The Indian rupee weakened against the U.S. dollar in the European session on Monday, as investors await the announcement of the interest rate decision by the Reserve Bank of India (RBI) on Wednesday.

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EURUSD	1.15678	GBPUSD	1.32773	AUDUSD	0.64639
USDJPY	146.973	USDCAD	1.37801	USDCHF	0.80816

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Bay Street Likely To Open On Mixed Note; Trade Talks, Earnings In Focus