Bay Street Set To Open Higher On Rising Commodity Prices

RTTNews | 672 dagar sedan

(RTTNews) - Canadian shares may open higher on Friday, tracking firm commodity prices, and stronger than expected earnings updates from U.S. lenders JP Morgan Chase and Wells Fargo.

The Canadian market ended weak on Thursday, snapping a five-day winning streak, after data showing a slightly bigger than increase in U.S. consumer prices in the month of September raised concerns the Federal Reserve will hold interest rates higher for longer.

Utilities, consumer discretionary, materials and technology stocks were among the major losers.

The benchmark S&P/TSX Composite Index, which tumbled to 19,410.51, ended down 163.60 points or 0.83% at 19,500.24.

Asian stocks declined on Friday as stronger-than-expected U.S. consumer inflation data revived fears about further interest rate rises.

Mixed China data, lingering concerns about conflict in the Middle East and caution ahead of earnings from JPMorgan Chase & Co., Citigroup Inc. and Wells Fargo & Co. due later in the day also weighed on markets.

Gold edged up and was on course for its best week in seven months as the dollar and Treasury yields fell slightly after climbing overnight.

Oil prices jumped around 2 percent after the U.S. Treasury Department said that it has imposed its first set of sanctions on two companies that shipped Russian oil in violation of a multinational price cap.

European stocks are down firmly in negative territory Friday afternoon, weighed down by concerns about interest rates after the latest U.S. inflation data, and comments from Bank of England Governor Andrew Bailey that future rate decisions by the central bank would continue to be tight.

In commodities, West Texas Intermediate Crude oil futures are up $3.50 or 4.2% at $86.41 a barrel.

Gold futures are gaining $26.00 or 1.4% at $1,909.00 an ounce, while Silver futures are up $0.496 or 2.26% at $22.455 an ounce.

U.S. Consumer Sentiment Unexpectedly Deteriorates In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index fell to 58.6 in August from 61.7 in July. Economists had expected the index to inch up to 62.0.

RTTNews | 23 minuter sedan

U.S. Industrial Production Pulls Back Slightly In July

A report released by the Federal Reserve on Friday showed a modest decrease by U.S. industrial production in the month of July. The Fed said industrial production edged down by 0.1 percent in July after climbing by an upwardly revised 0.4 percent in June. Economists had expected industrial production to come in unchanged.

RTTNews | 52 minuter sedan

New York Manufacturing Index Unexpectedly Climbs To Nine-Month High In August

The Federal Reserve Bank of New York released a report on Friday showing regional manufacturing activity unexpectedly grew at a faster rate in the month of August. The New York Fed said its general business conditions index climbed to 11.9 in August from 5.5 in July, with a positive reading indicating growth. Economists had expected the index to fall to 0.5.

RTTNews | 1h 17minuter sedan

U.S. Consumer Sentiment Index Unexpectedly Decreases In August

Consumer sentiment in the U.S. has unexpectedly deteriorated in the month of August, according to preliminary data released by the University of Michigan on Friday.

RTTNews | 1h 43minuter sedan

U.S. Import Price Growth Exceeds Estimates In July

The Labor Department released a report on Friday showing import prices in the U.S. increased by more than expected in the month of July. The report said import prices climbed by 0.4 percent in July after a downwardly revised 0.1 percent dip in June. Economists had expected import prices to inch up by 0.1 percent, matching the 0.1 percent uptick originally reported for the previous month.

RTTNews | 1h 50minuter sedan

U.S. Retail Sales Climb 0.5% In July, In Line With Estimates

A report released by the Commerce Department on Friday showed retail sales in the U.S. increased in line with economist estimates in the month of July. The Commerce Department said retail sales climbed by 0.5 percent in July after jumping by an upwardly revised 0.9 percent in June.

RTTNews | 2h 23minuter sedan

U.S. Industrial Production Edges Slightly Lower In July

A report released by the Federal Reserve on Friday showed a modest decrease by U.S. industrial production in the month of July.

RTTNews | 2h 31minuter sedan

New York Manufacturing Index Unexpectedly Increases In August

The Federal Reserve Bank of New York released a report on Friday showing regional manufacturing activity unexpectedly grew at a faster rate in the month of August.

RTTNews | 3h 6minuter sedan

EURUSD	1.17094	GBPUSD	1.35659	AUDUSD	0.6515
USDJPY	146.975	USDCAD	1.38097	USDCHF	0.80588