Bay Street May Open With Slightly Negative Bias

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(RTTNews) - Canadian shares may open with a negative bias Friday morning as energy and materials stocks are likely to be under some pressure due to lower commodity prices. Canadian retail sales data may provide some direction.

Final report on Canadian retail sales for the month of December, and preliminary Canadian retail sales numbers for the month of January are due at 8:30 AM ET.

In earnings news, Emera Incorporated (EMA.TO) reported fourth-quarter net income of $154 million, or $0.52 per common share, compared with net income of $289 million, or $1.04 per common share, in the year-ago quarter.

Onex Corporation (ONEX.TO) reported net loss of $2 million for the quarter ended December 2024, compared to net earnings of $373 million in the year-ago quarter.

Iamgold Corporation (IMG.TO) reported fourt-quarter net earnings of and adjusted net earnings per share of $0.15 and $0.10, respectively.

Canadian stocks closed weak on Thursday, weighed down by fears of fresh levies by the Trump administration on more goods sometime soon.

The U.S. President, who previously announced duties on cars, semiconductors and pharma products imported into America, has announced plans to unveil fresh tariffs on lumber and forest products, which could significantly hurt Canada.

Investors reacted to a slew of corporate earnings updates and digested the nation's producer prices data.

The benchmark S&P/TSX Composite Index ended with a loss of 112.08 points or 0.44% at 25,514.08, nearly 80 points off an early low of 25,436.88.

Asian stocks ended mixed on Friday as tariff worries offset investor optimism over China's artificial intelligence potential. Also, U.S. President Donald Trump's comments have raised hopes of a de-escalation in the trade war between the world's two largest economies.

Trump told reporters that a trade deal with China "is possible" in an interview aboard Air Force One.

European stocks are up in positive territory with investors digesting the regional PMI data, and reacting to more quarterly earnings updates.

In commodities, West Texas International Crude oil futures are down $0.74 or 1.02% at $71.83 a barrel.

Gold futures are down $9.70 or 0.33% at $2,946.40 an ounce, while Silver futures are lower by $0.141 or 0.42% at $33.345 an ounce.

Yen Falls Amid BoJ Rate Hike Uncertainty, Risk-0n Mood

The Japanese yen weakened against other major currencies in the Asian session on Wednesday, as the uncertainty about the likely time of the Bank of Japan's (BoJ) next interest rate hike and the increasing risk-on mood by the investors keeps the safe haven JPY declining.

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Asian Shares Follow Wall Street Higher On Rate Cut Hopes

Asian stocks ended mostly higher on Wednesday as in-line U.S. inflation reading bolstered speculation the Federal Reserve will cut interest rates by 25 basis points in September, bringing forward its easing forecast amid fears of a weakening labor market.

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Yen Falls Against Majors

The Japanese yen weakened against other major currencies in the Asian session on Wednesday.

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European Shares Seen Up On Fed Rate Cut Hopes

European stocks are seen opening higher on Wednesday as July U.S. CPI inflation data suggested little impact from President Trump's tariffs, reinforcing bets the Federal Reserve will cut interest rates to support a cooling labor market.

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Sensex, Nifty Modestly Higher In Early Trade

Indian shares opened on a firm note Wednesday after official data showed India's consumer price inflation eased more-than-expected in July to the lowest level in just over eight years, bringing inflation below RBI's tolerance band and raising prospects of another interest rate cut.

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Australian Market Extends Early Losses In Mid-market

The Australian stock market is extending its early losses in mid-market moves on Wednesday, reversing the gains in the previous two sessions, with the benchmark S&P/ASX 200 falling well below the 8,850 level, despite the broadly positive cues from Wall Street overnight, with weakness in energy and financial stocks partially offset by gains in mining and technology stocks.

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Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, boosted by Hong Kong and Japanese markets amid improved outlook for interest rates after US consumer price inflation for July came in line with expectations. The U.S. and China also confirmed a 90-day extension of their trade truce. Asian markets closed mixed on Tuesday.

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Sensex, Nifty Set For Positive Open As Retail Inflation Hits 8-year Low

Indian shares look set to open on a positive note Wednesday after official data showed India's consumer price inflation eased more-than-expected in July to the lowest level in just over eight years amid a continued fall in food prices.

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EURUSD	1.17187	GBPUSD	1.35647	AUDUSD	0.65514
USDJPY	147.193	USDCAD	1.37601	USDCHF	0.80296