Bay Street Likely To Open With Positive Bias

RTTNews | 987 gün önce

(RTTNews) - The Canadian market, where trading is set to resume after a long holiday break, is likely to open with a positive bias on Wednesday, tracking somewhat steady European markets.

However, weak commodity prices might limit market's upside.

Although China's decision to ease restrictions for travelers coming into the country buoyed up European stocks on Tuesday, concerns about a surge in new Covid cases in the world's second largest economy is likely to weigh on sentiment.

In Canadian company news, First Quantum Minerals Ltd. (FM.TO) said formal discussions between First Quantum, MPSA and the Government of Panamá have resumed on December 26, 2022 regarding the long-term future of the Cobre Panamá mine. The Company said it remains committed to seeking a mutually beneficial agreement as soon as possible.

The Canadian market ended on a firm note on Friday, thanks to some strong buying in the energy sector as oil prices firmed on supply concerns. The benchmark S&P/TSX Composite Index ended with a gain of 156.99 points or 0.81% at 19,506.65.

Asian stocks ended broadly lower on Wednesday as Treasury yields rose on Fed policy uncertainty and data showed Japan's industrial output fell for the third month in a row in November - suggesting the economy is still very fragile.

Investors pinned hopes of a recovery in demand after China moved to remove some of its most stringent travel restriction measures.

European stocks are up in positive territory with U.K. stocks outperforming as trading resumed after a long holiday weekend.

After China announced the re-opening of borders in a major shift of its epidemic response policies, several countries have announced safety measures like testing and medical scrutiny of passengers, coming from China and other countries where the virus is prevalent.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.36 or about 0.45% at $79.17 a barrel.

Gold futures are down $10.90 or 0.6% at $1,812.20 an ounce, while Silver futures are lower by $0.117 or 0.48% at $24.100 an ounce.

U.S. Wholesale Inventories Inch Up 0.1% In July, Slightly Less Than Expected

Wholesale inventories in the U.S. increased slightly less than expected in the month of July, according to a report released by the Commerce Department on Wednesday. The Commerce Department said wholesale inventories crept up by 0.1 percent in July after rising by an upwardly revised 0.2 percent in June.

RTTNews | 52 dakika önce

U.S. Producer Prices Unexpectedly Edge Slightly Lower In August

Largely reflecting a sharp pullback in prices for trade services, the Labor Department released a report on Wednesday unexpectedly showing a modest decrease by U.S. producer prices in month of August. The Labor Department said its producer price index for final demand edged down by 0.1 percent in August after climbing by a downwardly revised 0.7 percent in July.

RTTNews | 1s 14 dakika önce

U.S. Producer Prices Unexpectedly Edge Down 0.1% In August

Largely reflecting a sharp pullback in prices for trade services, the Labor Department released a report on Wednesday unexpectedly showing a modest decrease by producer prices in the U.S. in the month of August.

RTTNews | 2s 33 dakika önce

Bay Street Seen Opening Higher

Canadian stocks are likely to open higher on Wednesday, tracking firm oil and metal prices. The mood may change a bit cautious at higher levels with investors looking ahead to the crucial U.S. inflation data, due later in the week.

RTTNews | 2s 42 dakika önce

Major European Markets In Positive Territory In Cautious Trade

The major European markets are up in positive territory on Wednesday with investors picking up stocks amid continued optimism about a sharp rate cut by the Federal Reserve following recent weak labor market data. Easing concerns on the trade front also contribute to the positive sentiment in the markets.

RTTNews | 3s 16 dakika önce

Sensex, Nifty Close On Firm Note Again

Indian stocks closed on a positive note on Wednesday, extending previous session's gains, amid expectations of further reduction in GST rates, and hopes of a larger than expected interest rate cut by the Federal Reserve.

RTTNews | 4s 5 dakika önce

FTSE 100 Remains Steady ; ABF Tanks On Sales Warning

The U.K. market is modestly higher in late morning trades on Wednesday, with select frontline stocks finding good support. Movements are a bit lackluster with investors awaiting U.S. inflation data due later in the week.

RTTNews | 4s 32 dakika önce

CAC 40 Modestly Higher On Fed Rate Cut Hopes, Easing Political Concerns

After opening modestly higher and moving up further, France's CAC 40 gave up some gains subsequently Wednesday morning, but remains in positive territory. The undertone is fairly steady following the appointment of Sébastien Lecornu as France's new Prime Minister.

RTTNews | 4s 55 dakika önce

EURUSD	1.17285	GBPUSD	1.35508	AUDUSD	0.66296
USDJPY	147.392	USDCAD	1.38474	USDCHF	0.7968