Bay Street Likely To Open On Mixed Note

RTTNews | 978 วันที่ผ่านมา
Bay Street Likely To Open On Mixed Note

(RTTNews) - Canadian shares are likely to open on a mixed note on Wednesday, tracking sluggish commodity prices and slightly higher U.S. futures.

Worries about economic slowdown and another sharp interest rate hike by the Fed next week might weigh on stocks.

In Canadian earnings news, BRP Inc. (DOO.TO) reported that its second-quarter normalized earnings per share increased to C$2.94 from C$2.89, prior year. Normalized EBITDA increased 0.8%, to C$418.3 million.

BRP Inc. now expects full-year normalized EPS upward by C$0.30, now ranging from C$11.30 to C$11.65. The company anticipates that its third-quarter normalized EPS could be up over 50% year-over-year.

On the economic front, final data on manufacturing sales for the month of July is due at 8:30 AM ET. Preliminary data showed that manufacturing sales in Canada likely fell 0.9% month-over-month in July of 2022, following a 0.8% drop in June.

After a four-day winning streak, the Canadian market ended sharply lower on Tuesday as hotter-than-expected U.S. inflation data triggered heavy selling at several counters from across various sectors. The benchmark S&P/TSX Composite Index ended with a loss of 341.83 points or 1.71% at 19,645.40.

Asian stocks fell on Wednesday and the yen's continued depreciation prompted the Bank of Japan to conduct an operation often seen as a precursor to currency intervention, as investors shunned riskier assets amid increasing uncertainty about the global economic outlook.

European stocks are down firmly in negative territory Thursday afternoon amid concerns about economic slowdown and looming interest rate hikes.

In commodities trading, West Texas Intermediate Crude oil futures for October are down marginally at $87.26 a barrel.

Gold futures are down $3.10 or 0.17% at $1,714.50 an ounce, while Silver futures are down $0.11 or 0.06% at $19.480 an ounce.

read more
Eurozone Growth Outlook Downgraded; Disinflation To Proceed More Swiftly: EU

Eurozone Growth Outlook Downgraded; Disinflation To Proceed More Swiftly: EU

Eurozone economic growth outlook was downgraded substantially for 2025 due to the impact of higher trade tariffs and elevated uncertainty and disinflation would proceed more swiftly than anticipated with headline inflation set to hit the 2 percent target by the middle of this year, the European Commission said Monday.
RTTNews | 37 นาทีที่ผ่านมา
Dollar Index Extends Gains On Trade Deal Optimism

Dollar Index Extends Gains On Trade Deal Optimism

Rising optimism surrounding trade deals between the U.S. and its trading partners, and in particular the significant easing in trade tensions between the U.S. and China bolstered the U.S. dollar during the week ended May 16.
RTTNews | 2 ชม. 3 นาทีที่ผ่านมา
FTSE 100 Drifts Lower In Cautious Trade

FTSE 100 Drifts Lower In Cautious Trade

U.K. stocks are down in negative territory, losing ground after making a good upmove in the previous week. Investors, awaiting the outcome of a UK - European Union summit in London, are largely making cautious moves.
RTTNews | 2 ชม. 39 นาทีที่ผ่านมา
CAC 40 Moderately Lower; BNP Paribas Rises On Buyback Announcement

CAC 40 Moderately Lower; BNP Paribas Rises On Buyback Announcement

French stocks are down in negative territory on Monday, retreating from a one-month high recorded in the previous session, as investors make cautious moves amid some concerns about global growth following a downward revision in U.S. credit rating.
RTTNews | 3 ชม. 22 นาทีที่ผ่านมา
Sensex Drops 271 Points In Muted Session; Nifty Ends Below 24,950

Sensex Drops 271 Points In Muted Session; Nifty Ends Below 24,950

Indian shares fell modestly on Monday, with IT stocks leading losses after Moody's downgraded the U.S. credit rating by one notch to Aa1 from Aaa, citing rising levels of government debt and interest payments.
RTTNews | 3 ชม. 28 นาทีที่ผ่านมา
DAX Down Marginally In Cautious Trade

DAX Down Marginally In Cautious Trade

German stocks are exhibiting weakness on Monday in cautious trade after recent gains. Investors are assessing possible risks to global economic growth due to geopolitical tensions and tariff uncertainty, as well as a downgrade in U.S. sovereign debt.
RTTNews | 3 ชม. 47 นาทีที่ผ่านมา
European Shares Edge Lower On US Debt Concerns

European Shares Edge Lower On US Debt Concerns

European stocks traded lower on Monday as investors reacted to Moody's downgrade of U.S. credit rating and mixed economic data from China.
RTTNews | 4 ชม. 31 นาทีที่ผ่านมา