Bay Street Likely To Open On Mixed Note

RTTNews | 719天前

(RTTNews) - Canadian shares are likely to see a mixed start on Thursday with investors reacting to earnings updates from major banks, and upbeat results from U.S. chipmaker Nvidia.

In Canadian earnings news, Royal Bank of Canada (RY.TO) reported net income of $3.9 billion for the quarter ended July 31, 2023, up $295 million or 8% from the prior year. The bank reported adjusted net income and adjusted EPS of $4.0 billion and $2.84, respectively, both up 11% from the prior year.

Toronto-Dominion Bank (TD.TO) reported adjusted net income $3,731 million for the third quarter, compared with $3,813 million a year ago. The bank also announced that it intends to launch a new issuer bid to repurchase up to 90 million shares, representing around 4.9% of the 1.827 billion shares issued and outstanding as of July 31.

On the economic front, data on Canadian manufacturing sales for the month of July is due at 8:30 AM ET.

U.S. chipmaker NVIDIA Corporation (NVDA) announced after trading hours on Wednesday that its bottom line totaled $6.19 billion, or $2.48 per share. This compares with $0.66 billion, or $0.26 per share, in last year's second quarter. Excluding items, NVIDIA Corporation reported adjusted earnings of $6.74 billion or $2.70 per share for the period.

The Canadian market ended on a firm note on Wednesday, aided by strong gains in technology, materials, financials and real estate stocks.

The benchmark S&P/TSX Composite Index ended with a gain of 188.58 points or 0.96% at 19,879.79, after scaling a low of 19,713.51 and 19,907.28 intraday.

Asian stocks ended mostly higher on Thursday as bond yields retreated from recent highs on the back of August PMI data signaling weaker economic activity in Asia, Europe and the U.S.

Blockbuster earnings and a bullish outlook from Nvidia also offered some support as investors looked ahead to the Federal Reserve's upcoming Jackson Hole symposium.

After opening on a firm note, European stocks are paring gains today, and are currently up marginally. A drop in bond yields, and expectations of a pause in interest rate hikes lifted stock prices earlier in the day.

In commodities, West Texas Intermediate Crude oil futures are down marginally at $78.84 a barrel.

Gold futures are down $5.90 or 0.31% at $1,942.20 an ounce, while Silver futures are down $0.162 0r 0.65% at $24.230 an ounce.

U.S. Dollar Falls Against Majors

The U.S. dollar dropped against its major counterparts in the New York session on Tuesday.

RTTNews | 32分钟前

U.S. Small Business Confidence Improves In July - NFIB

Small business optimism in the U.S. strengthened in July after eroding in the previous month as business expectations turned positive despite a rise in uncertainty, results of a monthly survey by the National Federation of Independent Businesses showed on Tuesday.

RTTNews | 1小时48分钟前

Swiss Market Settles Marginally Higher

The Switzerland market ended marginally up on Tuesday after a choppy ride, with investors mostly making their moves, reacting to recent earnings updates.

RTTNews | 3小时40分钟前

European Stocks Close Broadly Higher On Fed Rate Cut Hopes, Easing Trading Tensions

European stocks closed broadly higher on Tuesday amid easing trade tensions after the U.S. extended its pause on higher tariffs for Chinese goods until November 10, averting an immediate escalation in the trade war. Expectations of a rate cut by the Federal Reserve in September contributed as well to the positive show by most of the markets in Europe.

RTTNews | 4小时0分钟前

Canadian Market Modestly Higher

The Canadian market is up in positive territory around early afternoon on Tuesday, supported by gains in communications, healthcare, financials and technology sectors. Easing trade tensions, and expectations of an interest rate cut by the Federal Reserve next month appear to be aiding sentiment.

RTTNews | 4小时37分钟前

UK Labor Market Cools In Q2

The U.K. labor market softened in the second quarter as wage growth eased, the unemployment rate held steady at a four-year high and job vacancies continued to decline sharply, official data revealed on Tuesday. The ILO jobless rate held steady at 4.7 percent in the second quarter, figures from the Office for National Statistics revealed and was in line with expectations.

RTTNews | 8小时1分钟前

U.S. Consumer Prices Increase 0.2% In July, In Line With Estimates

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to a report released by the Labor Department on Tuesday. The Labor Department said its consumer price index rose by 0.2 percent in July after climbing by 0.3 percent in June. The modest increase matched expectations.

RTTNews | 8小时13分钟前

Cardinal Health Lifts FY26 Outlook, But Stock Down As Q4 Revenues Miss Street; To Buy Solaris Health

Shares of Cardinal Health, Inc. were losing around 6% in the pre-market activity after the company's fourth-quarter top line missed the market view, even as profit beat the Street. In addition, the health care service provider raised its fiscal 2026 outlook, also above market estimates. Separately, Cardinal Health announced that its multi-specialty management services organization or MSO platform

RTTNews | 8小时37分钟前

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