Technology Stocks Lifting Canadian Market Modestly Higher

RTTNews | 1073 ngày trước

(RTTNews) - The Canadian market is modestly higher around noon on Wednesday, led by gains in technology stocks.

Shares from the rest of the sectors are turning in a mixed performance amid cautious moves by investors, who are looking ahead to the Federal Reserve's interest rate decision due later in the day.

The Fed is widely expected to hike interest rates by 75 basis points. Some analysts expect the rate to be hiked by as much as 1%.

CME Group's FedWatch Tool is currently indicating an 84% chance of a 75 basis points rate hike and a 16% chance of a 100 basis point rate hike.

The benchmark S&P/TSX Composite Index is up 41 points or 0.21% at 19,409.69 a little past noon. The index climbed to a high of 19,476.43.

Hut 8 Mining Corp (HUT.TO), up nearly 8%, is the biggest gainer in the Information Technology Index. Converge Technology Solutions (CTS.TO) is gaining nearly 7%. Lightspeed Commerce (LSPD.TO), Haivision Systems (HAI.TO), Telus International (TIXT.TO), Alithya Group (ALYA.TO) and Shopify Inc (SHOP.TO) are up 2 to 4.3%. Open Text Corp (OTEX.TO), CGI Group (GIB.TO) and Tecsys Inc (TCS.TO) are also notably higher.

Canadian Apartment Properties (CAR.UN.TO), Sprott Inc (SII.TO), Onex Corporation (ONEX.TO), Brookfield Infrastructure Corporatoin (BIPC.TO) and Ritchie Bros. Auctioneers (RBA.TO) are among the prominent gainers from other sectors.

Teck Resources (TECK.A.TO) is down 4.7%. The company said that there has been a structural failure of the plant feed conveyor belt at its Elkview steelmaking coal operation in the Elk Valley of British Columbia. It is expected that production at Elkview Operations will be interrupted for 1-2 months as repairs are implemented.

Teck expects the impact on 2022 steelmaking coal production will be in the range of 1.5 million tonnes, assuming a two-month suspension of plant operations.

Softchoice Corporation (SFTC.TO), Boralex Inc (BLX.TO), Jamieson Wellness (JWEL.TO) and Tourmaline Oil Corp (TOU.TO) are down 1.6 to 2.8%.

U.S. Dollar Falls Against Most Majors

The U.S. dollar weakened against its most major counterparts in the New York session on Friday.

RTTNews | 11h 21phút trước

German Inflation Accelerates To 2.2% In August

Consumer price inflation in Germany climbed in August to its highest level in five months, while the core figure was steady amid an acceleration in food price growth, and weakened chances for further easing from the European Central Bank in the near term.

RTTNews | 12h 40phút trước

Canadian Market Up In Positive Territory; BRP Rises Sharply On Strong Earnings

Despite weak GDP data, the Canadian market is up firmly in positive territory Friday afternoon with stocks from materials and healthcare sectors contributing significantly to the gains.

RTTNews | 14h 54phút trước

Swiss Market Ends Modestly Lower

Save for a very brief while early on in the session, and for less than an hour a little past mid afternoon, the Switzerland market stayed in negative territory on Friday with investors largely staying cautious due to a lack of positive triggers.

RTTNews | 15h 30phút trước

European Stocks Close Lower On Geopolitical Tensions

European stocks closed lower on Friday, weighed down by geopolitical concerns due to rising clashes in Gaza and Ukraine, and political uncertainty in France. Investors also digested the latest batch of economic data, including the closely watched U.S. personal consumption expenditure report.

RTTNews | 15h 59phút trước

U.S. Consumer Sentiment Deteriorates Slightly More Than Initially Estimated In August

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by slightly more than previously estimated in the month of August. The report said the consumer sentiment index for August was downwardly revised to 58.2 from the preliminary reading of 58.6.

RTTNews | 18h 43phút trước

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.

RTTNews | 19h 2phút trước

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.

RTTNews | 19h 45phút trước

EURUSD	1.1684	GBPUSD	1.34987	AUDUSD	0.6538
USDJPY	147.04	USDCAD	1.3741	USDCHF	0.80047