Bay Street Looks Headed For Positive Start

RTTNews | 1058天前
Bay Street Looks Headed For Positive Start

(RTTNews) - Canadian shares look headed for a firm start on Monday, tracking positive global cues amid hopes the Federal Reserve will be less aggressive at its upcoming meeting later this month.

Sharply higher crude oil prices and steady bullion prices are also likely to aid sentiment.

According to a report released by the Canada Mortgage and Housing Corporation (CHMC), housing starts in Canada fell 3% over a month earlier to 273,841 units in June of 2022.

Despite suffering a mild setback after a positive start, the Canadian market snapped a five-session losing streak and ended modestly higher on Friday.

The market moved up on positive cues from European and the U.S. markets, where stocks gained after remarks from two of the Federal Reserve officials helped ease concerns about a sharper interest rate hike by the central bank later this month.

The benchmark S&P/TSX Composite Index, which dropped to 18,311.57 this morning, after having advanced to 18,500.10 at the start, ended the session with a gain of 65.39 points or 0.36% at 18,394.45.

Asian stocks advanced on Monday after U.S. stocks ended several days of sell-offs with a sharp rebound on Friday, helped by upbeat earnings news and strong economic data.

European stocks edged higher on Monday ahead of this week's ECB meeting and the expected resumption of an important gas pipeline that is currently closed for maintenance.

Expectations that the Federal Reserve will be less aggressive at its upcoming meeting contribute as well to the positive mood in European markets.

The euro held at one-week high after several Fed officials said they didn't favor a 100-bps rate hike.

At its July 21 meeting, the European Central bank is likely to hike its policy rates by 25 basis points and signal a 50-basis point increase for September.

In commodities trading, West Texas Intermediate Crude oil futures are up $2.36 or 2.41% at $99.95 a barrel.

Gold futures are gaining $8.70 or 0.51% at $1,712.30 an ounce, while Silver futures are up $0.136 or 0.73% at $18.730 an ounce.

read more
Sensex, Nifty Marginally Higher In Lackluster Trade

Sensex, Nifty Marginally Higher In Lackluster Trade

Indian shares were marginally higher on Wednesday after top U.S. and Chinese officials agreed on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 1小时49分钟前
Australian Market Trims Early Gains In Mid-market

Australian Market Trims Early Gains In Mid-market

The Australian market is trimming its early gains in mid-market moves on Wednesday, but extending the gains in the previous session, with the benchmark S&P/ASX 200 moving above the 8,600 level to fresh all-time highs, following the positive cues from Wall Street overnight, with gains in iron ore miners, energy and financial stocks partially offset by weakness in gold miners and technology stocks.
RTTNews | 2小时50分钟前
Asian Markets Track Wall Street Higher

Asian Markets Track Wall Street Higher

Asian stock markets are trading mostly higher on Wednesday, following the broadly positive cues from Wall Street overnight, amid easing trade war tensions after top U.S. and Chinese officials agreed upon a "framework" to move forward on trade, following two days of high-level talks in London. The framework will first need to be approved by leaders in Washington and Beijing.
RTTNews | 3小时15分钟前
Sensex, Nifty Set For Muted Start

Sensex, Nifty Set For Muted Start

Indian shares are seen opening little changed on Wednesday despite top U.S. and Chinese officials agreeing on a "framework" to move forward on trade, following two days of high-level talks in London.
RTTNews | 3小时44分钟前
Thai Bourse May Extend Tuesday's Gains

Thai Bourse May Extend Tuesday's Gains

The Thai stock market on Tuesday ended the two-day slide in which it had slipped more than 5 points or 0.4 percent. The Stock Exchange of Thailand now rests just beneath the 1,140-point plateau and it may tick higher again on Wednesday.
RTTNews | 4小时15分钟前
Japanese Market Modestly Higher

Japanese Market Modestly Higher

The Japanese stock market is trading modestly higher on Wednesday, extending the gains in the previous three sessions, following the broadly positive cues from Wall Street overnight. The Nikkei 225 is moving above the 38,300 level, with gains across most sectors led by index heavyweights and technology stocks. Financial stocks are a weak spot.
RTTNews | 4小时41分钟前
Indonesia Shares May Open To The Upside

Indonesia Shares May Open To The Upside

The Indonesia stock market has moved higher in three straight sessions, gathering almost 190 points or 2.7 percent along the way. The Jakarta Composite Index now rests just above the 7,230-point plateau and it's looking at a firm lead again for Wednesday's trade.
RTTNews | 4小时45分钟前