Bay Street Likely To Open On Weak Note

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(RTTNews) - Canadian shares look headed for a weak start Monday morning amid rising trade tensions after China's Commerce Ministry said it would retaliate against nations cooperating with the U.S.'s tariff wars. i U.S. President Donald Trump's threat that Fed Chair Jerome Powell might be removed from his post is also likely to weigh on sentiment.

White House economic adviser Kevin Hassett said on Friday that the president and his team are examining the legal feasibility of removing Powell and claimed that he had acted politically to benefit Democrats.

On Thursday, Trump blasted Powell for not lowering interest rates, calling him "always TOO LATE AND WRONG."

In Canadian company news, power producer Northland Power Inc. (NPI.TO) announced Monday the appointment of Jeff Hart as the Company's new Chief Financial Officer (CFO), effective May 1, 2025. He will be based at Northland's headquarters in Toronto and will report directly to Christine Healy, President and Chief Executive Officer of Northland.

The Canadian market closed modestly higher on Thursday. The benchmark S&P/TSX Composite Index spent morning trading bouncing back and forth across the unchanged before spending the afternoon hovering in positive territory.

The index ended the day up 86.02 points or 0.4% at 24,192.81, continuing to recover from the eight-month closing low set last Tuesday.

Asian stocks ended mixed on Monday, with markets in Hong Kong, Australia and New Zealand closed due to the Easter holiday.

The U.S. dollar tumbled after U.S. President Donald Trump threatened to fire Fed Chair Powell over rate cuts and released an eight-point list targeting what he calls "non-tariff cheating" by foreign nations -- a warning he said could affect diplomatic and trade ties with the United States.

The major European markets are closed today for Easter Monday.

In commodities, West Texas Intermediate Crude oil futures are down $1.51 or 2.3% at $63.17 a barrel.

Gold futures are gaining $87.50 or 2.63% at $3,415.90 an ounce, while Silver futures are up $0.570 or 1.76% at $33.040 an ounce.

Swiss Stocks Close On Firm Note; SMI Hits New Record High

Switzerland's benchmark SMI hit a new record high on Tuesday with stocks staying firm after recovering from a slightly cautious start.

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European Stocks Close Broadly Higher

European stocks closed higher on Tuesday with some of the markets hitting fresh highs, amid continued optimism the Federal Reserve will consider more rate cuts next year. The volume of business was thin in most the markets as traders remained on the sidelines ahead of upcoming Christmas holidays.

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Canadian Stocks Turning In Mixed Performance

Canadian stocks are turning in a mixed performance on Tuesday with investors digesting the nation's GDP data and a slew of economic reports from the U.S. With truncated sessions and holidays ahead, the mood in the market remains a bit subdued and the volume of business is rather thin.

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U.S. Consumer Confidence Deteriorates For Fifth Straight Month In December

Consumer confidence in the U.S. deteriorated for the fifth consecutive month in December, according to a report released by the Conference Board on Tuesday. The Conference Board said its consumer confidence index slid to 89.1 in December from an upwardly revised 92.9 in November.

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U.S. Industrial Production Rises 0.2% In November, Slightly More Than Expected

A report released by the Federal Reserve on Tuesday showed industrial production in the U.S. increased by slightly more than expected in the month of November. The Fed said industrial production rose by 0.2 percent in November after edging down by 0.1 percent in October. Economists had expected industrial production to inch up by 0.1 percent.

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U.S. Economy Grows Much More Than Expected In Q3

A report released by the Commerce Department on Tuesday showed the U.S. economy grew by much more than expected in the third quarter of 2025. The Commerce Department said real gross domestic product spiked by 4.3 percent in the third quarter after surging by 3.8 percent in the second quarter. Economists had expected GDP to jump by 3.3 percent.

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U.S. Durable Goods Orders Plunge 2.2% In October, More Than Expected

Reflecting a steep drop in orders for transportation equipment, the Commerce Department released a report on Tuesday showing new orders for U.S. manufactured durable goods fell by more than expected in the month of October. The report said durable goods orders tumbled by 2.2 percent in October after climbing by an upwardly revised 0.7 percent in September.

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U.S. Industrial Production Rises Slightly More Than Expected In November

A report released by the Federal Reserve on Tuesday showed industrial production in the U.S. increased by slightly more than expected in the month of November.

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