Bay Street May Open Higher; Inflation Data Eyed

RTTNews | 265 ngày trước

(RTTNews) - Canadian shares are likely to open on positive note Tuesday morning, tracking higher oil and metal prices. However, Canada's consumer price inflation data, due before the opening bell, holds the key.

Worries about U.S. tariffs, and geopolitical tensions could weigh on sentiment and limit market's upside.

The annual inflation rate in Canada eased to 1.8% in December of 2024 from 1.9% in the previous month, to mark the softest rate of price growth since September. The Consumer Price Index decreased 0.4% month-over-month in December, the first decline in three months, after a flat reading in November,

The annual core inflation rate in Canada rose to a six-month high of 1.8% in December 2024, up from 1.6% in the prior month. On a monthly basis, core consumer prices fell by 0.3% in December, following a 0.1% decrease in the previous month.

CGI Inc (GIB.A.TO) will be in focus after Volkswagen Group announced an enhanced global collaboration with CGI. The strategic move aims to enhance the Volkswagen Group's long-term capabilities to build a robust IT infrastructure for the future. Volkswagen and CGI have launched a new entity called MARV1N, to help develop digitalization projects and provide support for Volkswagen's developers.

Cargojet Inc (CJT.TO) reported adjusted net profit of $27.2 million or $1.71 per diluted share for the fourth-quarter of 2024, compared to $5.8 million or $0.34 per diluted share in the year-ago quarter.

The Canadian market ended notably lower on Friday with investors reacting to some weak earnings updates, and data showing weaker than expected U.S. retails data. Worries about potential new tariffs by the Trump administration weighed as well on sentiment.

The benchmark S&P/TSX Composite Index ended down 215.28 points or 0.84% at 25,483.23, slightly off the day's low of 25,470.77. The index gained a marginal 0.14% in the week.

Asian stocks closed mixed on Tuesday amid U.S. tariff concerns and ahead of Ukraine peace talks in Saudi Arabia.

European stocks are slightly higher in cautious trade with investors reacting to quarterly earnings updates, and closely monitoring the developments on the geopolitical front.

In commodities, West Texas Intermediate Crude oil futures are up $0.43 or 0.6% at $71.17 a barrel.

Gold futures are gaining $28.20 or 0.98% at $2,928.90 an ounce, while Silver futures are up $0.085 or 0.25% at $32.940 an ounce.

Australian Market Slips To Losses In Mid-market

The Australian stock market is slipping in to the red in mid-market trading on Tuesday after early gains, reversing some of the gains in the previous session, despite the broadly positive cues from Wall Street overnight. The benchmark S&P/ASX 200 is staying well below the 8,850 level, with weakness in financial and technology stocks partially offset by gains in mining and energy stocks.

RTTNews | 1h 52phút trước

Asian Markets Trade Mixed

Asian stock markets are trading mixed on Tuesday, following the broadly positive cues from Wall Street overnight, as traders react to further progress made towards ending the US government shutdown, with the US Senate commencing a series of votes on a package to reopen the government and end the longest shutdown on record. Asian markets closed mostly higher on Monday.

RTTNews | 2h 11phút trước

Sensex, Nifty Seen Opening Higher On Trade Deal Hopes

Indian shares look set to open on a positive note Tuesday after U.S. President Donald Trump indicated he would reduce the tariff rate on Indian goods "at some point," and that the U.S. was "pretty close" to a trade deal with New Delhi that's good for everybody.

RTTNews | 2h 44phút trước

Thai Shares Expected To Open To The Upside On Tuesday

The Thai stock market has moved higher in two of three trading days since the end of the five-day losing streak in which it had dropped more than 15 points or 1.2 percent. The Stock Exchange of Thailand now sits just above the 1,305-point plateau and it's called higher again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

RTTNews | 3h 15phút trước

Rebound Tipped For Indonesia Stock Market

The Indonesia stock market on Monday snapped the three-day winning streak in which it had gained almost 160 points or 1.2 percent. The Jakarta Composite Index now sits just above the 8,390-point plateau although it's expected to see renewed support on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The JCI finished slightly lower on Monday as losses from the financials and telecoms were mitigated by support from the resource stocks and a mixed picture from the cement companies. For the day, the index eased 3.35 points or 0.04 percent to finish at the daily low of 8,391.24 after peaking at 8,478.15. Among the actives, Bank CIMB Niaga shed 0.57 percent, while Bank Mandiri fell 0.42 percent, Bank Danamon Indonesia collected 0.40 percent, Bank Negara Indonesia tumbled 1.78 percent, Bank Central Asia skidded 1.15 percent, Bank Rakyat Indonesia slumped 1.26 percent, Indosat Ooredoo Hutchison plunged 3.72 percent, Indocement improved 0.78 percent, Semen Indonesia plummeted 4.17 percent, Indofood Sukses Makmur slipped 0.35 percent, United Tractors rallied 1.36 percent, Energi Mega Persada surged 4.60 percent, Astra Agro Lestari dropped 0.96 percent, Aneka Tambang rose 0.34 percent, Vale Indonesia eased 0.22 percent, Timah soared 6.85 percent, Bumi Resources spiked 6.38 percent and Astra International was unchanged. The lead from Wall Street is solid as the major averages opened higher on Monday and largely spent most of the sessions firmly in positive territory.

RTTNews | 3h 45phút trước

Japanese Market Significantly Higher

The Japanese stock market is trading significantly higher on Tuesday, extending the gains in the previous session, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving well above the 51,350 level, with gains in index heavyweights, financial and technology and stocks.

RTTNews | 3h 58phút trước

Higher Open Predicted For Hong Kong Stock Market

The Hong Kong stock market has moved higher in two of three trading days since the end of the two-day slide in which it had dropped more than 220 points or 0.8 percent. The Hang Seng Index now rests just beneath the 26,650-point plateau and it's expected to open to the upside again on Tuesday. The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead.

RTTNews | 4h 0phút trước

Additional Support Likely For China Stock Market

The China stock market bounced higher again on Monday, one session after halting the two-day winning streak in which it had advanced more than 45 points or 1.1 percent. The Shanghai Composite Index now sits just beneath the 4,020-point plateau The global forecast for the Asian markets is broadly positive on optimism that the end of the U.S. government shutdown in near. The European and U.S. markets were sharply higher and the Asian bourses are expected to follow that lead. The SCI finished modestly higher on Monday following gains from the financial shares, property stocks and resource companies. For the day, the index gained 21.04 points or 0.53 percent to finish at 4,018.60 after trading between 3,990.84 and 4,018.70. The Shenzhen Composite Index added 10.15 points or 0.40 percent to end at 2,529.44. Among the actives, Industrial and Commercial Bank of China advanced 0.87 percent, while Bank of China rose 0.35 percent, Agricultural Bank of China rallied 2.12 percent, China Merchants Bank added 0.49 percent, Bank of Communications collected 0.82 percent, China Life Insurance jumped 1.95 percent, Jiangxi Copper improved 0.95 percent, Aluminum Corp of China (Chalco) soared 3.26 percent, Yankuang Energy vaulted 1.88 percent, PetroChina strengthened 1.65 percent, China Petroleum and Chemical (Sinopec) fell 0.27 percent, Huaneng Power perked 0.24 percent, China Shenhua Energy gained 0.94 percent, Gemdale spiked 2.33 percent, Poly Developments increased 1.25 percent and China Vanke climbed 1.29 percent.

RTTNews | 4h 15phút trước

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