Bay Street Likely To See Mixed Open
(RTTNews) - Canadian shares may open on a mixed note Wednesday morning, tracking mixed commodity markets, and on lingering concerns about the impact of Trump administration's trade policies on the outlook for global economic growth.
Data on Canadian manufacturing and services sector activity for the month of January is due at 9:30 AM ET.
Canadian trade data for the month of December is due at 8:30 AM ET.
In earnings news, ATS Corp. (ATS.TO) said its third-quarter bottom line came in at $6.51 million, or $0.07 per share. This compares with $47.18 million, or $0.47 per share, last year. Excluding items, ATS Corp. reported adjusted earnings of $30.9 million or $0.32 per share for the period.
Finning International (FTT.TO) reported adjusted earnings per share of $1.02 in the fourth-quarter, compared with $0.96 in the year-ago quarter. Revenue rose 7% to $2.58 billion from $2.40 billion a year ago.
The Canadian market closed marginally up on Tuesday as trade concerns eased a bit after the U.S. administration decided to pause tariffs on Canadian goods for about a month.
Still, with the U.S. and China slapping levies on each other, worries about global economic outlook lingered, rendering the mood cautious.
The benchmark S&P/TSX Composite Index, which climbed to 25,446.17, gaining more than 200 points in the process, pared most of its gains and ended the session just 37.59 points or 0.15% up at 25,279.35.
Asian stocks closed on a mixed note on Wednesday as tariff worries persisted, and a private survey showed China's services activity expanded at a slower pace in January.
Weak earnings updates from Alphabet and AMD may also weigh on sentiment.
European stocks turning in a mixed performance with investors largely making cautious moves, assessing the possible impact of U.S.' trade policies on global economic growth.
In commodities, West Texas Intermediate Crude oil futures are down $0.80 or 1.1% at $71.90 a barrel.
Gold futures are gaining $16.20 or 0.56% at $2,892.00 an ounce, while Silver futures are down $0.107 or 0.32% at $32.915 an ounce.
Canadian Dollar Eases Against Most Majors
Swiss Market Ends On Weak Note; Pharma Stocks Among Major Losers
European Markets Close Mostly Flat
Canadian Market Drifts Lower On Profit Taking
U.S. Consumer Sentiment Deteriorates Much More Than Expected In September
UK Economy Flatlines In July
Bay Street Likely To Open On Mixed Note
