Bay Street Likely To Open With Positive Bias

RTTNews | 12h 4min atrás

(RTTNews) - Canadian shares may open with a positive bias on Tuesday, tracking higher crude oil and metal prices. The focus is on the U.S. Presidential election, and the upcoming monetary policy announcement from the Federal Reserve. Investors will also be reacting to a slew of earnings updates, and key economic data.

In earnings news, Thomson Reuters Corporation (TRI.TO) reported operating profit of $415 million for the third quarter ended September 30, 2024, compared with $441 million a year ago.

Fortis Inc (FTS.TO) announced that it posted net earnings of $420 million or $0.85 per common share in the third quarter of 2024, compared up $394 million, or $0.81 per shares in the corresponding quarter last year.

Colliers International Group Inc (CIGI.TO) reported operating earnings of $109.7 million for the quarter ended September 30, 2024, compared with $70.9 million in the year-ago quarter.

On the economic front, Canada's trade data for the month of September is due at 8:30 AM ET.

Data on Canadian manufacturing and services sector activity in the month of October are due at 9:30 AM ET.

The S&P Global Canada Composite PMI dropped to 47.0 in September 2024 from 47.8 in August, marking a deeper contraction in private sector activity for the fourth consecutive month.

The S&P Global Canada Services PMI fell to 46.4 in September 2024, down from 47.8 in August, indicating a sharper contraction in the services sector for the fourth consecutive month and marking the steepest decline since March.

After a weak start and a subsequent swift recovery that resulted in a brief spell in positive territory, the Canadian market fell into the red around late morning on Monday, and finally ended the day's session on a flat note.

The benchmark S&P/TSX Composite Index ended at 24,256.06, up less than a point from the previous close. The index, which climbed to 24,353.36 early morning, dropped to a low of 24,162.22 at noon.

Asian stocks ended mostly higher on Tuesday after Chinese Premier Li Qiang expressed confidence that his government can pull off an economic recovery. Additionally, a private survey showed China's services activity expanded at the fastest pace in three months in October.

European stocks are mostly subdued today with investors digesting mixed earnings updates and awaiting interest-rate decisions from the Bank of England and the Federal Reserve later this week.

In commodities, West Texas Intermediate crude futures are up $0.44 or 0.63% at $71.91 a barrel.

Gold futures are gaining $3.50 or 0.13% at $2,749.70 an ounce, while Silver futures are up $121 or 0.37% at $32.730 an ounce.

Canadian Market Up Firmly In Positive Territory

The Canadian market is up firmly in positive territory Tuesday afternoon, supported by gains in utilities, consumer staples, healthcare and technology sectors. Investors are largely reacting to quarterly earnings reports, and keeping an eye on U.S. Presidential election.

RTTNews | 5h 12min atrás

Swiss Market Ends Weak

Despite a positive spell early on in the session on Tuesday, the Switzerland market turned a bit sluggish and then drifted down to eventually close modestly lower, as some disappointing earnings news weighed on sentiment.

RTTNews | 6h 21min atrás

European Stocks Close Higher As Markets Await Central Banks Rate Decisions

European stocks closed broadly higher on Tuesday with investors largely making cautious moves, digesting mixed earnings updates and economic data, and looking ahead to the monetary policy announcements from the Bank of England and the Federal Reserve.

RTTNews | 6h 45min atrás

U.S. Dollar Weakens Amid Election Uncertainty

The U.S. dollar lost ground against its most major counterparts on Tuesday, as investors awaited the results from the presidential election.

RTTNews | 7h 34min atrás

U.S. Services Index Unexpectedly Climbs To Two-Year High In October

Service sector activity in the U.S. unexpectedly grew at an accelerated rate in the month of October, according to a report released by the Institute for Supply Management on Tuesday. The ISM said its services PMI rose to 56.0 in October from 54.9 in September, with a reading above 50 indicating growth. The uptick surprised economists, who had expected the index to dip to 53.8.

RTTNews | 9h 2min atrás

U.S. Trade Deficit Widens To Largest In Over Two Years In September

A report released by the Commerce Department on Tuesday showed a substantial increase in the size of the U.S. trade deficit in the month of September, as imports surged and exports slumped. The Commerce Department said the trade deficit widened to $84.4 billion in September from a revised $70.8 billion in August.

RTTNews | 10h 16min atrás

U.S. Trade Deficit Widens Significantly In September

A report released by the Commerce Department on Tuesday showed a substantial increase in the size of the U.S. trade deficit in the month of September, as imports surged and exports slumped.

RTTNews | 11h 16min atrás

UK Service Sector Logs Weakest Growth In Almost A Year

The UK service sector grew at the slowest pace since November last year as heightened uncertainty and concerns about the domestic economic outlook damped new work, the S&P Global purchasing managers' survey showed on Tuesday. The final services Purchasing Managers' Index registered 52.0 in October, down from 52.4 in September. The reading was above the initial estimate of 51.8.

RTTNews | 12h 22min atrás

EURUSD	1.09314	GBPUSD	1.30245	AUDUSD	0.66373
USDJPY	151.391	USDCAD	1.38394	USDCHF	0.86284