Bay Street Likely To Open On Weak Note

RTTNews | 832 gün önce
Bay Street Likely To Open On Weak Note

(RTTNews) - Canadian shares are likely to open on a negative note on Thursday, tracking a sell-off in European markets, and weak crude oil prices, amid rising concerns about the crisis in the financial sector.

Following the terrible collapse of Silicon Valley Bank and Signature Bank in the U.S., global stocks are taking a severe hammering now following reports about Swiss banking giant Credit Suisse's short-term debt woes.

Credit Suisse shares are plunging following Saudi National Bank saying it would not be able to offer more financial help. Several bank stocks in Europe, including BNP Paribas, Commerzbank, Societe Generale and Deutsche Bank suffered sharp losses this morning.

U.S. index futures are down sharply, and the Canadian S&P/TSX futures are falling as well, pointing to a weak opening on Bay Street.

The Canadian market ended on a firm note on Tuesday despite paring most of its early gains. The mood was positive as data showing U.S. consumer prices rising in line with expectations in February supported expectations for a smaller rate hike by the Federal Reserve this month.

The benchmark S&P/TSX Composite Index ended with a gain of 105.26 points or 0.54% at 19,694.16, snapping a three-day losing streak.

Asian stocks closed higher on Wednesday as data showing a recovery in China's economic activity helped outweigh concerns about U.S. bank contagion fears.

European stocks are plunging sharply with investors keeping a close eye on the developments surrounding the SVB crisis, and the debt woes of Swiss bank Credit Suisse.

In commodities trading, West Texas Intermediate Crude oil futures are down $1.26 or 1.77% at $70.07 a barrel.

Gold futures are gaining $17.30 or about 0.91% at $1,928.20 an ounce, while Silver futures are up $0.290 or 1.3% at $22.330 an ounce.

read more
Swiss Stock Market Halts Losing Streak

Swiss Stock Market Halts Losing Streak

The Swiss stock market on Tuesday ended the seven-day losing streak in which it had stumbled more than 465 points or 4 percent.
RTTNews | 59 dakika önce
European Stock Markets Find Traction On Tuesday

European Stock Markets Find Traction On Tuesday

The major European stocks closed on a firm note Tuesday after the office of Israeli Prime Minister Benjamin Netanyahu and Iranian state media outlet Press TV confirmed a ceasefire had begun.
RTTNews | 1s 14 dakika önce
BoE's Greene Seeks Cautious Approach On Concerns Over High Inflation, Uncertainty

BoE's Greene Seeks Cautious Approach On Concerns Over High Inflation, Uncertainty

The Bank of England must have a prudent approach to reducing interest rates as the U.K. inflation may remain high for a longer time than expected rather than a short-term spike, and also due to risks on the global front including fluctuations in oil prices in the backdrop of the ongoing Middle East conflict, policymaker Megan Greene said on Tuesday.
RTTNews | 3s 34 dakika önce
Amazon To Invest $4 Bln To Expand Speed Delivery To Rural Communities Across U.S

Amazon To Invest $4 Bln To Expand Speed Delivery To Rural Communities Across U.S

E-commerce giant Amazon has announced its plan to invest over $4 billion to expand speed delivery service to thousands of smaller cities, towns, and rural communities across the United States. For the first time, the company will be offering the convenience and reliability of Same-Day and Next-Day Delivery to millions of U.S. customers in more than 4,000 smaller cities, towns, and rural communiti
RTTNews | 4s 50 dakika önce
Powell Indicates Federal Reserve Likely To Remain On Hold

Powell Indicates Federal Reserve Likely To Remain On Hold

Despite intense pressure from President Donald Trump to lower interest rates, Federal Reserve Chair Jerome Powell on Tuesday indicated the central bank is likely to remain on hold. "For the time being, we are well positioned to wait to learn more about the likely course of the economy before considering any adjustments to our policy stance," Powell said.
RTTNews | 6s 23 dakika önce
FTSE 100 Lags In Ceasefire-led Rebound

FTSE 100 Lags In Ceasefire-led Rebound

With an addition of just a little more than quarter percent, the FTSE 100 benchmark of the London Stock Exchange underperformed its peers in the region.
RTTNews | 7s 9 dakika önce