Bay Street Looks Headed For Positive Start

RTTNews | 1057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
Australia NAB Business Conditions Ease; Confidence Improves

Australia NAB Business Conditions Ease; Confidence Improves

Australian business conditions eased in May amid ongoing profitability pressures and soft demand, while business confidence improved from the last month, survey data from NAB showed on Tuesday. A monthly survey conducted by Westpac showed that consumer confidence rose moderately in June, underpinned by interest rate cut and softening inflation.
RTTNews | 28分钟前
European Economic News Preview: UK Unemployment Data Due

European Economic News Preview: UK Unemployment Data Due

Unemployment from the UK and industrial production from Italy are the top economic news due on Tuesday. At 2.00 am ET, the Office for National Statistics releases UK unemployment data. The jobless rate is forecast to fall to 4.6 percent in three months to April from 4.5 percent in the preceding period.
RTTNews | 1小时25分钟前
Australian Market Doubles Early Gains In Mid-market

Australian Market Doubles Early Gains In Mid-market

The Australian stock market is doubling its early gains in mid-market trading on Tuesday, reversing some of the losses in the previous two sessions, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is moving up to near the 8,600 level, with gains in iron ore miners, financial, technology and energy stocks partially offset by weakness in gold miners.
RTTNews | 2小时13分钟前
Asian Markets Trade Mostly Higher

Asian Markets Trade Mostly Higher

Asian stock markets are trading mostly higher on Tuesday, following the mixed cues from Wall Street overnight, amid easing trade war tensions between the US and China after the two superpowers began high-level trade talks in London, with negotiations expected to continue on Tuesday. The tariff war between the two countries has already rattled the global economy.
RTTNews | 2小时54分钟前
Sensex, Nifty Seen Higher At Open As Sino-US Talks Continue

Sensex, Nifty Seen Higher At Open As Sino-US Talks Continue

Indian shares look set to open on a positive note Tuesday as top officials from the U.S. and China continue their trade talks for a second day today to resolve their differences and ease tensions over rare-earth minerals and technology shipments.
RTTNews | 3小时21分钟前
Thai Bourse May Extend Losing Streak

Thai Bourse May Extend Losing Streak

The Thai stock market has ticked lower in back-to-back sessions, slipping more than 5 points or 0.4 percent along the way. The Stock Exchange of Thailand now rests just above the 1,135-point plateau and it may take further damage on Tuesday. The global forecast for the Asian markets is murky ahead of key upcoming talks between the United States and China. The European markets were down and the U.S. bourses were flat and the Asian markets figure to split the difference.
RTTNews | 3小时52分钟前