Bay Street Likely To Open Higher

RTTNews | 114天前

(RTTNews) - Canadian shares may open higher on Wednesday amid renewed hopes the U.S. and China will agree on a positive trade deal. The focus is also on the Federal Reserve's monetary policy announcement later in the day.

The U.S. central bank is widely expected to hold rates. The accompanying statement and Fed Chair Jerome Powell's post meet conference are eyed for clues about the central bank's future moves with regard to interest rates.

A somewhat muted outcome of the meeting between U.S. President Donald Trump and Canadian Primer Minister Mark Carney may weigh a bit and limit market's upside.

On the earnings front, Barrick Gold reported earnings per share of $0.35 for the latest quarter, compared to $0.19 in the year-ago quarter.

Stella-Jones Inc. (SJ.TO) announced that its net income increased to C$93 million from C$77 million last year. Earnings per share were C$1.67 versus C$77 last year.

Manulife Financial, Great-West Lifeco, Nutrien, WSP Global, Tourmaline Oil Corp, Canadian Utilities and Pan American Silver Corp. are among the companies slated to announce their quarterly earnings today.

The Canadian market ended marginally up after a choppy ride. The benchmark S&P/TSX Composite Index closed up 21.20 points or 0.1% at 24,974.72.

Asian stocks advanced on Wednesday after confirmation that trade talks between the U.S. and China would take place in Switzerland this week, marking the first formal talks between the countries since U.S. President Donald Trump declared sweeping tariffs last month.

European stocks are exhibiting weakness in cautious trade as investors react to earnings and economic data, and await policy announcements from the Federal Reserve and the Bank of England.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.50 or 0.84% at $59.59 a barrel.

Gold futures are down $21.00 or 0.61% at $3,401.80 an ounce, while Silver futures are down $0.216 or 0.65% at $33.165 an ounce.

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 | 1小时53分钟前

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 | 2小时12分钟前

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 | 2小时55分钟前

German Unemployment Exceeds 3 Mln

Germany's unemployment exceeded the three million-mark for the first time in a decade in August as the prolonged period of subdued economic activity weighed on the labor market. The number of unemployed persons increased by 46,000 from the previous year to 3.025 million in August. However, unemployment fell by adjusted 9,000 compared to the previous month, while it was forecast to increase by 1

RTTNews | 3小时24分钟前