Bay Street Likely To Open Higher

RTTNews | 984 gün önce

(RTTNews) - Canadian shares are likely to open higher on Thursday as firm metal prices and rising optimism about the Federal Reserve slowing its pace of interest rate hikes are expected to lift sentiment.

Trading volumes may be thin as Wall Street is closed for Thanksgiving Day.

A report from the Canadian Federation of Independent Business showed small business sentiment in Canada dropped to a score of 50 in November from 51.4 a month earlier.

Data on average weekly earnings in Canada for the month of September is due at 8:30 AM ET. Average weekly earnings of non-farm payroll employees in Canada rose by 3.2% year-on-year to C$ 1,170.14 in August of 2022, rising for the 15th consecutive month.

The Canadian market ended modestly higher on Wednesday after moving in a tight range amid thin volumes.

After struggling for direction till about a couple of hours past noon, the market saw some buying as investors reacted positively to the minutes of the Federal Reserve's latest monetary policy meeting.

Technology stocks moved higher, contributing significantly to the Canadian market's positive close. A few stocks from utilities, materials and financials sectors posted strong gains, while energy stocks drifted lower on weak crude oil prices.

The benchmark S&P/TSX Composite Index ended with a gain of 62.25 points or 0.31% at 20,282.26, after scaling a low of 20,185.08 and a high of 20,303.63 intraday.

Asian stocks ended broadly higher on Thursday as optimism over a less hawkish Fed outweighed concerns that a surge in COVID cases in China would weigh on growth.

European stocks are higher with relatively dovish signals from the Federal Reserve prompting investors to look past concerns over China, where the daily Covid cases continue to climb.

In commodities trading, West Texas Intermediate Crude oil futures for December are down $2.27 or 2.82% at $77.77 a barrel.

Gold futures are gaining $12.40 or 0.71% at $1,758.00 an ounce, while Silver futures are up $0.293 or 1.37% at $21.660 an ounce.

Pound Eases Against Most Majors

The pound retreated against its most major counterparts in the New York session on Monday.

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Swiss Market Ends Marginally Down

After an early sharp drop, the Switzerland market recovered some lost ground Monday morning, but stayed in negative territory right through the day's trading session, as investors largely stayed cautious, waiting for directional clues.

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European Markets Close On Firm Note As Stocks Rebound On Bargain Hunting

European markets closed on a firm note on Monday, rebounding well from recent losses, as investors indulging in some bargain hunting after previous week's setback following U.S. President Donald Trump's sweeping tariff announcement.

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U.S. Factory Orders Pull Back Sharply In June

After reporting a substantial increase by new orders for U.S. manufactured goods in the previous month, the Commerce Department released a report on Monday showing factory orders pulled back sharply in the month of June. The Commerce Department said factory orders dove by 4.8 percent in June after soaring by an upwardly revised 8.3 percent in May.

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Weak Jobs Data Limits Dollar's Rebound

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Eurozone Investor Sentiment Weakens Unexpectedly

Euro area investor confidence deteriorated unexpectedly in August as the newly reached trade deal with the U.S. deepened concerns about the current economic situation as well as the outlook, data from the behavioral research institute Sentix showed on Monday. The Sentix investor sentiment index fell steeply to -3.7 in August from 4.5 in July. The measure was expected to climb to 6.2.

RTTNews | 6s 51 dakika önce

Bay Street Seen Opening On Cautious Note

Canadian stocks may open on a mixed note on Monday with investors likely to stay cautious ahead of implementation of levies imposed by U.S. President Donald Trump, and a slew of earnings announcements due this week. Weak oil prices may weigh a bit.

RTTNews | 6s 59 dakika önce

FTSE 100 Modestly Higher; Lloyds Banking Group Rises Nearly 8%

The UK market is up in positive territory on Monday with stocks from the financial sector contributing significantly to the upmove after the outcome from the UK's motor finance investigation turned out to less severe than feared, with potential compensation estimated at 9 billion pounds, much less than the expected quantum o 30 billion pounds.

RTTNews | 7s 50 dakika önce

EURUSD	1.15678	GBPUSD	1.32764	AUDUSD	0.64647
USDJPY	147.012	USDCAD	1.37774	USDCHF	0.80813

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Bay Street Likely To Open Higher