Bay Street Likely To Open Slightly Higher
(RTTNews) - Higher U.S. and Canadian futures, and gold prices point to a positive start on Bay Street Monday morning. The mood is likely to remain cautious with investors looking ahead to the release of mega-cap U.S. tech earnings and monetary policy meetings of several central banks.
The Federal Reserve is scheduled to announce its monetary policy on Wednesday. Central banks in Japan and U.K. are also slated to announce their monetary policies this week.
Also due this week are the U.S. jobs data, reports on Canadian manufacturing activity, and GDP.
After three successive days of losses, the Canadian market ended on a firm note on Friday thanks to sustained buying in several stocks from across various sectors, amid hopes the Federal Reserve will cut interest rate in September.
The benchmark S&P/TSX Composite Index ended with a strong gain of 206.78 points or 0.91% at 22,814.81. The index gained 0.55% in the week.
Asian stocks closed higher on Monday, tracking a broad rally on Wall Street Friday as soft inflation data bolstered hopes of more interest rate cuts his year.
European stocks are broadly higher, although the French market is down in negative territory.
In commodities, West Texas Intermediate Crude oil futures are down $0.44 or 0.57% at $76.72 a barrel.
Gold futures are gaining $6.60 or 0.28% at $2,387.60 an ounce, while Silver futures are up $0.185 or 0.66% at $28.205 an ounce.
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European Shares Seen Opening Broadly Higher
Asian Markets Trade Mixed
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Japanese Market Sharply Higher
