Bay Street May Open With Slightly Positive Bias

RTTNews | il y a 110

(RTTNews) - Canadian shares are likely to open with a slightly positive bias Friday morning. Higher crude oil prices, and optimism about the outlook for interest rate are likely to help underpin sentiment.

In Canadian earnings news, Artizia Inc (ATZ.TO) reported adjusted net income of $25.0 million for the first quarter, up 122.7% compared to the corresponding quarter last year.

Cogeco Inc (CGO.TO) reported diluted earnings per share of $1.97 in the third quarter, compared to loss of $2.22 per share in the year-ago quarter.

On the economic front, data on Canadian building permits for the month of May is due at 8:30 AM ET.

The Canadian market rose to a new all-time high on Thursday thanks to sustained buying in several sectors after soft U.S. inflation data raised prospects of an interest rate cut by the Federal Reserve in September.

Real estate, materials, utilities and consumer discretionary stocks were among the most prominent gainers. Scores of stocks from communications, healthcare and energy sectors also posted strong gains.

The benchmark S&P/TSX Composite Index ended with a gain of 193.90 points or 0.87% at 22,544.13, after hitting a record high of 22,574.65.

Asian stocks ended mixed on Friday as investors reacted to surprisingly soft U.S. inflation data, mixed Chinese trade figures and comments from several Federal Reserve officials on the rate trajectory.

The dollar edged up slightly as the latest inflation data fueled bets for a September rate cut and a Pew Research Centre poll showed former President Trump leading President Biden by 4 points among registered voters.

European stocks are up in positive territory, on expectations of a rate cut by the Federal Reserve in September after data showed a drop in U.S. consumer price inflation in the month of June.

In commodities, West Texas Intermediate Crude oil futures are up $0.72 or about 0.87% at $83.34 a barrel.

Gold futures are down $15.20 or 0.63% at $2,406.70 an ounce, while Silver futures are down $0.701 or 2.21% at $30.970 an ounce.

Continued Consolidation Called For KOSPI

The South Korea stock market on Wednesday ended the three-day winning streak in which it had advanced more than 35 points or 1.4 percent. The KOSPI now sits just above the 2,590-point plateau and it's tipped to open under pressure again on Thursday.

RTTNews | il y a 4h 22min

TSX Ends Modestly Lower

The Canadian market ended weak on Wednesday, weighed down by losses in materials and technology sectors. Investors digested earnings updates from Canadian and U.S. companies, and awaited U.S. non-farm payroll data and Canadian GDP report, due later in the week.

RTTNews | il y a 5h 20min

Bank Of Japan Interest Rate Decision Due On Thursday

The Bank of Japan will wrap up its monetary policy meeting on Thursday and then announce its decision on interest rates, setting the pace for a busy day in Asia-Pacific economic activity. The BoJ is expected to keep its benchmark lending rate unchanged at 0.25 percent.

RTTNews | il y a 5h 22min

Dollar Loses Ground Against Major Counterparts After GDP Data

The U.S. dollar shed ground on Wednesday after data showed an unexpected slowdown in the nation's GDP growth. Investors also digested strong private sector employment data and looked ahead to the crucial non-farm payroll data due later in the week.

RTTNews | il y a 6h 31min

Canadian Market Slightly Lower In Cautious Trade

Canadian stocks are turning in a mixed performance on Wednesday with investors largely reacting to earnings announcements, and U.S. economic data. Materials stocks are among the notable losers, while consumer staples and utilities shares are finding good support.

RTTNews | il y a 8h 37min

German Inflation Climbs More Than Expected Dampening Bigger Rate Cut Hopes

Consumer price inflation in Germany increased more than expected to its highest level in three months in October and the core figure moved closer to 3 percent, damping expectations for a bigger size interest rate cut from the European Central Bank.

RTTNews | il y a 9h 5min

Swiss Market Ends Notably Lower

The Switzerland market ended notably lower on Wednesday after languishing in negative territory right through the day's session, as investors reacted to weak economic data, digested a slew of corporate earnings announcements, and looked ahead to some key U.S. economic data due later in the week.

RTTNews | il y a 9h 23min

U.S. Dollar Retreats As GDP Growth Slows

The U.S. dollar pulled back against its major counterparts in the New York session on Wednesday, as a slowdown in GDP growth outweighed optimism about strong ADP data.

RTTNews | il y a 9h 35min

EURUSD	1.08589	GBPUSD	1.2957	AUDUSD	0.6572
USDJPY	153.271	USDCAD	1.3907	USDCHF	0.8662