Bay Street Seen Opening On Mixed Note

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(RTTNews) - Canadian shares are likely to open on a mixed note Tuesday morning, tracking commodity prices, and reports on U.S. consumer confidence and job openings. With the U.S. central bank set to announce its policy on Wednesday, and some crucial Canadian economic data due later in the week, the mood is likely to remain cautious.

The Federal Reserve's two-day monetary policy meeting gets underway today, and the central bank is widely expected to keep interest rate unchanged.

Final data for Canadian GDP in the month of November, and preliminary GDP reading for the month of December, are due on Wednesday. A report on Canadian manufacturing activity in the month of January is due out on Thursday.

Metro Inc. (MRU.TO) reported first-quarter net earnings of $228.5 million, down 1.1%, and adjusted net earnings of $235.0 million, down 1.1%, compared to net earnings and adjusted net earnings, in the corresponding quarter last year.

The Canadian market ended modestly higher on Monday, lifted by gains in technology and real estate stocks.

Healthcare, consumer discretionary and utilities shares were among the other gainers on a day when the mood was a bit cautious with investors awaiting a slew of crucial economic data from Canada and the U.S., and the monetary policy announcement from the Federal Reserve.

The benchmark S&P/TSX Composite Index ended with a gain of 74.78 points or 0.35% at 21,200.06, a new 52-week closing high. The index, which briefly fell into negative territory at the start, recovered and kept edging higher as the session progressed.

Asian stocks ended mixed on Tuesday, with markets in China and Hong Kong tumbling amid China's property sector woes. Rising tensions in the Middle East weighed as well on sentiment.

European stocks are up in positive territory despite data showing Germany's economy contracted in the final three months of last year. France's economy stagnated in the final quarter of 2023, while Italy and Spain saw their economies firming up by 0.2% and 0.6%, respectively.

In commodities, West Texas Intermediate Crude oil futures are down $0.44 or 0.59% at $76.34 a barrel.

Gold futures are up $9.00 or 0.44% at $2,034.40 an ounce, while Silver futures are down $0.11 or 0.05% at $23.240 an ounce.

Australian Market Extends Early Gains In Mid-market

The Australian stock market is extending it early gains in mid-market moves on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains across most sectors led by mining and financial stocks.

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Asian Markets Mixed In Cautious Trades

Asian stock markets are trading mixed on Wednesday, following the broadly positive cues from Wall Street overnight, as traders remain cautious and seem reluctant to make significant moves ahead of the release of key US economic data later in the week, including second quarter GDP and the US Fed's preferred readings on consumer price inflation, which could impact the outlook for interest rates.

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Mild Upside Seen For Thai Stock Market

The Thai stock market on Tuesday ended the two-day winnings streak in which it had picked up almost 20 points or 1.6 percent. The Stock Exchange of Thailand now sits just above the 1,250-point plateau although it figures to move back to the upside again on Wednesday.

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Japanese Market Slightly Lower

The Japanese stock market is slightly lower in choppy trading on Wednesday, extending the losses in the previous session, despite the broadly positive cues from Wall Street overnight. The Nikkei 225 is staying below the 42,400 level, with a mixed performance across all sectors.

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Indonesia Shares May Reverse Tuesday's Losses

The Indonesia stock market headed south again on Tuesday, one day after snapping the two-day slide in which it had fallen almost 85 points or 1.1 percent. The Jakarta Composite Index now sits just above the 7,900-point plateau although it's looking to bounce higher again on Wednesday. The global forecast for the Asian markets is cautiously optimistic, with tech shares likely to rise ahead of key earnings news later in the day. The European markets were down and the U.S. bourses were up and the Asian markets figures to follow the latter lead.

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Australian Market Modestly Higher

Australian shares are trading modestly higher on Wednesday, recouping the losses in the previous session, with the benchmark S&P/ASX 200 moving above the 8,950 level, following the broadly positive cues from Wall Street overnight, with gains in mining and financial stocks.

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Hong Kong Shares Expected To Open To The Upside

The Hong Kong stock market on Tuesday ended the two-day winning streak in which it had advanced more than 825 points or 3.4 percent. The Hang Seng Index now rests just above the 25,520-point plateau although it may find renewed support on Wednesday.

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Higher Open Called For China Stock Market

The China stock market on Tuesday halted the four-day winning streak in which it had rallied almost 160 points or 4.4 percent. The Shanghai Composite Index now sits just beneath the 3,870-point plateau although it may move back to the upside again on Wednesday.

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EURUSD	1.1621	GBPUSD	1.34553	AUDUSD	0.64865
USDJPY	147.886	USDCAD	1.38417	USDCHF	0.80499