Bay Street Likely To Open On Mixed Note

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(RTTNews) - Canadian shares look headed for a mixed start Monday morning, tracking commodity prices, and digesting quarterly updates from U.S. and Canadian companies. With the Federal Reserve's monetary policy announcement due on Wednesday, the mood is likely to remain a bit cautious.

Cargojet (CJT.TO) reported first-quarter adjusted earnings of $31 million, or $1.86 per share, compared to $16.8 million, or $0.97 per share, in the year-ago quarter.

Alimentation Couche-Tard Inc. (ATD.TO) announced today that the Toronto Stock Exchange has approved the renewal of its share repurchase program, authorizing Couche-Tard to repurchase up to 78,083,521 Common Shares, representing 10% of the company's "public float" as at April 18, 2024 . Based on the current share price the completion of the Program in full would represent a total investment of approximately US $4.3 billion or CDN $5.9 billion.

The Canadian market ended modestly higher on Friday, led by gains in materials stocks as gold prices advanced on safe-haven buying.

Investors reacted positively to some upbeat earnings updates from top U.S. companies, including Alphabet and Microsoft, and digested U.S. personal consumption expenditure (PCE) data that showed a larger than expected increase in annual consumer price growth.

The benchmark S&P/TSX Composite Index ended with a gain of 83.86 points or 0.38% at 21,969.24, after moving in a tight range between 21,907.48 and 21,997.95. The index gained about 0.5% in the week.

Asian stocks ended higher in thin trade on Monday, with Japanese markets closed for a holiday.

Traders looked ahead to the Federal Reserve's policy meeting on Wednesday after the central bank's preferred inflation gauge largely met expectations.

European stocks are turning in a mixed performance. Among the major markets, U.K. is outperforming, with real estate stocks faring well after data showed house sales in the country rose for the seventh consecutive month in April thanks to higher demand for smaller homes.

In commodities, West Texas Intermediate Crude oil futures are down slightly at $83.83 a barrel.

Gold futures are up $1.50 at $2,348.70 an ounce, while Silver futures are gaining $0.088 or 0.32% at $27.340 an ounce.

Australian Market Trims Early Gains In Mid-market

The Australian stock market is trimming its early gains in mid-market trading on Tuesday, recouping the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,850 level, with gains across most sectors led by mining and technology shares.

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Asian Markets Mixed Amid Cautious Trades

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious and optimistic about an interest rate cut by the US Fed ahead of the Fed's monetary policy announcement on Wednesday. Traders have already factored in a rate cut by the US Fed as a "certainty." Asian markets closed mixed on Monday.

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Sensex, Nifty Set For Cautious Start

Indian shares look set to open on a flat note on Tuesday despite mostly positive cues from global markets.

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Thai Shares May Crack Resistance At 1,300 Points

The Thai stock market has moved higher in seven straight sessions, adding more than 45 points or 3.8 percent along the way. The Stock Exchange of Thailand now sits just beneath the 1,300-point plateau and it may tick higher again on Tuesday.

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Japanese Market Slightly Higher

The Japanese stock market is slightly higher in post-holiday trading on Tuesday after opening well in the green, and briefly slipping in to the red, recouping the losses in the previous session, following the positive cues from Wall Street overnight. The Nikkei 225 is moving above the 44,800 level, with gains in automakers and technology stocks partially offset by weakness in financial stocks.

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Indonesia Bourse May Challenge 8,000-Point Level

The Indonesia stock market has moved higher in four straight sessions, advancing more than 300 points or 4 percent in that span. The Jakarta Composite Index now rests just beneath the 7,940-point plateau and it may extend its gains again on Tuesday.

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Hong Kong Stock Market May See Additional Support

The Hong Kong stock market has moved higher in consecutive trading days, advancing more than 360 points or 1.4 percent in that span. The Hang Seng Index now sits just beneath the 26,450-point plateau and it's expected to open in the green again on Tuesday.

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Australian Market Modestly Higher

The Australian stock market is trading modestly higher on Tuesday, recouping the losses in the previous session, following the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving well above the 8,850 level, with gains across most sectors led by mining and technology shares.

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EURUSD	1.17832	GBPUSD	1.36221	AUDUSD	0.66716
USDJPY	147.066	USDCAD	1.37653	USDCHF	0.79336