Bay Street Seen Opening With Negative Bias

RTTNews | 77 dagar sedan
Bay Street Seen Opening With Negative Bias

(RTTNews) - Canadian shares are likely to open with a negative bias Thursday morning, tracking weak European markets and lower crude oil prices. The market is likely to be weighed down by tariff worries as well.

Empire Company Limited (EMP.A) reported third-quarter net earnings of $146.1 million ( $0.62 per share) compared to $134.2 million ( $0.54 per share) last year.

Transat A.T. (TRZ.TO) reported adjusted net loss of $75 million, or $1.90 per share, for the first quarter, compared with an adjusted net loss of $76 million, or $1.97 per share, a year earlier.

Data from Statistics Canada said the total value of building permits slipped by 3.2% month-over-month to $12.8 billion in January 2025, following an upwardly revised 11.6% jump in the prior month.

The Canadian market closed on a firm note on Wednesday, lifted by gains in energy and technology sectors.

The Bank of Canada's rate cut announcement, and tamer than expected U.S. consumer price inflation data contributed to the positive show by Canadian stocks.

Worries about tariffs and their impact on growth limited market's gains. The U.S. Government's 25% tariff on all steel and aluminum imports took effect on Wednesday, significantly impacting Canada, which is the largest foreign supplier of these metals to the United States.

The benchmark S&P/TSX Composite Index ended with a gain of 175.14 points or 0.72% at 24,423.34, nearly 100 points off the day's high of 24,516.28.

Asian stocks ended weak on Thursday despite softer U.S. inflation data bolstering the case for more Federal Reserve interest rate cuts this year.

Tariff worries kept investors on the edge after Canada and the EU swiftly retaliated against U.S. steel and aluminum tariffs and President Trump vowed to respond to the countermeasures.

European stocks are down in negative territory Thursday afternoon, failing to hold early gains, as worries about tariffs and their impact on growth hurt sentiment.

In commodities, West Texas Intermediate Crude oil futures are down $0.31 or 0.46% at $67.37 a barrel.

Gold futures are up $7.30 or 0.25% at $2,954.10 an ounce, while Silver futures are down $0.123 or 0.36% at $33.620 an ounce.

read more
U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

U.S. Economic Shrinks Slightly Less Than Previously Estimated In Q1

A report released by the Commerce Department on Thursday showed the U.S. economy shrank by slightly less than previously estimated in the first quarter of 2025. The Commerce Department said real gross domestic product edged down by a revised 0.2 percent in the first quarter compared to the previously reported 0.3 percent dip. Economists had expected the modest decrease to be unrevised.
RTTNews | 3h 10minuter sedan
U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

U.S. Weekly Jobless Claims Climb More Than Expected To 240,000

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday. The report said initial jobless claims climbed to 240,000, an increase of 14,000 from the previous week's revised level of 226,000. Economists had expected jobless claims to inch up to 230,000.
RTTNews | 3h 12minuter sedan
Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Recalls 256K Pounds Of Canned Beef Stew Product

Hormel Foods Corp. is recalling around 256,185 pounds of canned beef stew product that may be contaminated with foreign material, specifically wood, according to the U.S. Department of Agriculture's Food Safety and Inspection Service or FSIS. The Tucker, Georgia-based branded food major's recall involves 20-oz. metal cans containing "Dinty Moore BEEF STEW" with "BEST BY FEB 2028".
RTTNews | 3h 47minuter sedan
UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK Vehicle Manufacturing Logs Weakest Start To Year Since 2009: SMMT

UK automotive manufacturing registered its weakest start to a year since 2009, the Society of Motor Manufacturers & Traders, or SMMT, said Thursday. Car and commercial vehicle production decreased 15.8 percent on a yearly basis to 59,203 units in April. Auto production fell to the lowest level for the month since 1952, excluding 2020 when the first Covid lockdown effectively saw manufacturing c
RTTNews | 4h 15minuter sedan
Bay Street Looks Set To Start On Firm Note

Bay Street Looks Set To Start On Firm Note

Canadian shares look headed for a firm start on Thursday, with encouraging earnings by Royal Bank of Canada and Canadian Imperial Bank of Commerce, and a U.S. court ruling against U.S. President Donald Trump's sweeping tariff moves set to lift sentiment.
RTTNews | 4h 29minuter sedan
U.S. Weekly Jobless Claims Rise More Than Expected

U.S. Weekly Jobless Claims Rise More Than Expected

First-time claims for U.S. unemployment benefits rose by more than expected in the week ended May 24th, according to a report released by the Labor Department on Thursday.
RTTNews | 4h 48minuter sedan