Bay Street Set To Open On Firm Note

RTTNews | 1181天前
Bay Street Set To Open On Firm Note

(RTTNews) - Canadian shares are headed for a firm start Friday morning, tracking higher crude oil prices and positive global cues.

In earnings news, BlackBerry (BB.TO) has reported stronger than expected first quarter revenue thanks to growth in its auto products and cybersecurity services segments. The company said that revenue from its internet-of-things segment that includes its auto products grew the fastest in the first quarter at 19%, with a gross margin of 84%.

The Canadian market ended sharply lower on Thursday, with its benchmark S&P/TSX Composite Index falling to a new 52-week low, as rising possibility of a recession weighed on sentiment. The index ended with a loss of 286.92 points or 1.51% at 18,717.12, after hitting a low of 18,661.52.

Asian stocks ended higher on Friday, as a continuous decline in commodities from crude oil to metals to cotton helped ease fears around runaway inflation.

European stocks are surging higher amid slightly easing worries about inflation following a drop in commodity prices. Markets have ignored survey results showing that German business morale fell more than expected in June. The Ifo institute said its business climax index dropped to 92.3 from 93.0 in May.

In commodities, West Texas Intermediate Crude oil futures are up $1.95 or 1.87% at $106.22 a barrel.

Gold futures are lower by $2.80 or 0.16% at $1,827.00 an ounce, while Silver futures are down $0.217 or 1.06% at $20.825 an ounce.

read more
Japanese Market Notably Higher

Japanese Market Notably Higher

The Japanese market is trading notably higher on Thursday, reversing the losses in the previous session, following the mixed cues from Wall Street overnight. The Nikkei 225 is moving above the 45,000 mark, with gains across most sectors led by exporters and technology stocks.
RTTNews | 40分钟前
Australian Market Modestly Lower

Australian Market Modestly Lower

The Australian market is trading modestly lower on Thursday, extending the losses in the previous session, following the mixed cues from Wall Street overnight. The benchmark S&P/ASX 200 is falling below the 8,800 level, with weakness across most sectors led by mining and energy stocks.
RTTNews | 1小时20分钟前
U.S. Dollar Advances After Fed Decision

U.S. Dollar Advances After Fed Decision

The U.S. dollar climbed against its major counterparts in the New York session on Wednesday, as the Federal Reserve cut its key interest rate and projected two more reductions for this year.
RTTNews | 3小时57分钟前
Fed Cuts Rates By Quarter Point, Forecasts Two More Rate Cuts This Year

Fed Cuts Rates By Quarter Point, Forecasts Two More Rate Cuts This Year

In a widely expected move, the Federal Reserve on Wednesday announced that it has decided to lower interest rates by a quarter point, marking the first rate cut of 2025. The Fed said it decided to lower the target range for the federal funds rate by 25 basis points to 4.0 percent to 4.25 percent, citing a shift in the balance of risks.
RTTNews | 7小时55分钟前
Swiss Market Ends Marginally Down

Swiss Market Ends Marginally Down

After a weak start and a subsequent long spell in negative territory, the Switzerland market briefly moved above the flat line in late afternoon trade on Wednesday, but failed to sustain momentum and settled marginally down with a few frontline stocks turning weak again.
RTTNews | 8小时22分钟前
European Markets Close Mixed After Cautious Session

European Markets Close Mixed After Cautious Session

European stocks turned in a mixed performance on Wednesday with investors digesting regional economic data, and awaiting the Federal Reserve's monetary policy announcement due later in the day.
RTTNews | 8小时51分钟前
Canadian Market Modestly Higher At Noon; BoC Lowers Interest Rate

Canadian Market Modestly Higher At Noon; BoC Lowers Interest Rate

Canadian stocks are up in positive territory around noon on Wednesday with investors reacting to the Bank of Canada's decision to cut interest rates by 25 basis points. The recent weak labor market data and economic slowdown have raised prospects of further easing by the Canadian central bank.
RTTNews | 10小时18分钟前
Bank Of Canada Lowers Interest Rates By A Quarter Point

Bank Of Canada Lowers Interest Rates By A Quarter Point

After leaving interest rates unchanged for three straight meetings, the Bank of Canada on Wednesday announced its widely expected decision to lower rates by a quarter point. The Bank of Canada said it decided to reduce its target for the overnight rate by 25 basis points to 2.5 percent, with the Bank Rate at 2.75 percent and the deposit rate at 2.45 percent.
RTTNews | 10小时59分钟前