Bay Street Likely To See Mixed Open

RTTNews | 942 gün önce
Bay Street Likely To See Mixed Open

(RTTNews) - Canadian shares are likely to open on a mixed note Monday morning, tracking commodity prices and subdued European markets.

A reading on Canada new housing price index for the month of December is due at 8:30 AM ET. New home prices in Canada declined 0.2% month-over-month in November 2022, the same as in October.

In company news, Endeavour Mining plc (EDV.TO) reported that its gold production for the fourth quarter of 2022 was 355 thousand ounce, down about 6% from the previous year, but it increased about 4% from the prior quarter. The company expects gold production to be 1.325 million ounce - 1.425 million ounce in 2023, representing an increase over the fiscal year 2022 guidance of 1.315 million.

The Canadian market ended on a strong note on Friday, led by gains in healthcare, technology and materials shares. The mood in the market remained quite positive amid hopes the central banks will slow the pace of interest rate hikes. Optimism about Chinese economy helped as well.

The benchmark S&P/TSX Composite Index ended with a gain of 161.77 points or 0.8% at 20,503.21, a new one-month closing high.

Asian stocks ended mostly higher in thin trade Monday, with markets in mainland China, Hong Kong, Singapore and Seoul closed for Lunar New Year celebrations. Chinese markets won't resume trading until Jan. 30.

Japanese shares climbed higher as the yen retreated from last week's 7 1/2-month high and minutes of the Bank of Japan's December policy meeting showed that board members wanted to modify their yield control curve in order to improve market functionality.

European stocks are slightly higher in cautious trade as dovish Fed remarks offset concern of a global economic slowdown. With not much economic data to provide direction, movements are somewhat sluggish.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.79 or 0.95% at 82.43 a barrel.

Gold futures are up slightly at $1,928.90 an ounce, while Silver futures are down $0.070 or 0.29% at $23.855 an ounce.

read more
U.S. Dollar Drops After Powell's Speech

U.S. Dollar Drops After Powell's Speech

The U.S. dollar weakened against its major counterparts in the New York session on Friday, as Federal Reserve Chair Jerome Powell hinted at a potential rate cut next month.
RTTNews | 3s 36 dakika önce
TSX Hits New Record High As Stocks Rally On Fed Rate Cut Hopes

TSX Hits New Record High As Stocks Rally On Fed Rate Cut Hopes

The Canadian market is up firmly in positive territory a little past noon on Friday, with stocks from across several sectors moving higher on strong buying support amid rising hopes of an interest rate cut by the Federal Reserve in September.
RTTNews | 9s 7 dakika önce
Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates

Powell Says Outlook, Shifting Balance Of Risks 'May Warrant' Lower Rates

Federal Reserve Chair Jerome Powell delivered a highly-anticipated speech before the Jackson Hole Economic Symposium on Friday, although he touched only briefly on the outlook for monetary policy. "With policy in restrictive territory, the baseline outlook and the shifting balance of risks may warrant adjusting our policy stance," Powell said.
RTTNews | 11s 15 dakika önce
Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed

Bay Street Likely To Open On Mixed Note; Powell's Speech Eyed

Canadian shares are likely to open on a somewhat mixed note Friday morning with investors awaiting Fed Chair Jerome Powell's speech at Jackson Hole. Lower commodity prices may weigh a bit early on in the session.
RTTNews | 13s 45 dakika önce
Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns

Sensex, Nifty Snap Six-day Winning Streak On Tariff Concerns

Indian shares fell sharply on Friday after a Trump administration official called India the 'Maharaja' of tariffs and ramped up his criticism over the trade ahead of an expected tariff increase on August 27.
RTTNews | 15s 31 dakika önce
FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply

FTSE 100 Down Slightly; Standard Chartered Shares Up Sharply

U.K. stocks are turning in a mixed performance in cautious trade on Friday, amid a lack of fresh triggers. Investors are awaiting Fed Chair Jerome Powell's speech later in the day at the Jackson Hole Symposium, for clues about U.S. central bank's interest rate move next month.
RTTNews | 15s 37 dakika önce
U.S. Dollar Rises Ahead Of Fed's Powell Speech

U.S. Dollar Rises Ahead Of Fed's Powell Speech

The U.S. dollar strengthened against other major currencies in the European session on Friday, as traders expect speech by Fed Chair Jerome Powell at the Jackson Hole Symposium.
RTTNews | 15s 41 dakika önce
CAC 40 Up Slightly In Lackluster Trade

CAC 40 Up Slightly In Lackluster Trade

French stocks are mostly subdued on Friday with investors refraining from making significant moves, choosing to wait for key speeches from central bank chiefs at the Jackson Hole Symposium. The focus is on Fed Chair Jerome Powell's speech for clues about interest rate cuts in September.
RTTNews | 15s 59 dakika önce