Canadian Stocks Turning In Mixed Performance

RTTNews | 116日前

(RTTNews) - Canadian stocks are turning in a mixed performance on Tuesday with investors digesting the nation's inflation data, and looking ahead to Wednesday's monetary policy announcement from the U.S. Federal Reserve.

Data from Statistics Canada said the annual inflation rate in Canada decelerated for the third month to hit 2% in August 2024, the softest since February 2021, and slightly below forecasts of 2.1%.

The Canadian CPI decreased by 0.2% over a month in August 2024, compared to expectations for a flat reading, following a 0.4% rise in the prior month.

Core consumer prices in Canada increased by 1.5% in August 2024 compared to the same month in the previous year, easing from 1.7% in July.

A report from the Canada Mortgage and Housing Corporation said housing starts in Canada fell by 22.3% over a month to 217,405 units in August 2024, the lowest since November 2023.

Energy and healthcare stocks are finding some support, while consumer staples and industrials shares are exhibiting some weakness.

The benchmark S&P/TSX Composite Index, which posted a new high at 23,800.59 earlier in the session, is down 26.72 points or 0.11% at 23,675.35 about half an hour past noon.

Telesat Corporation (TSAT.TO) is gaining more than 10%. Calian Group (CGY.TO) and ATS Corporation (ATS.TO) are up 4.6% and 4.2%, respectively. Magna International (MG.TO), Bombardier Inc (BBD.B.TO), Celestica Inc (CLS.TO), Molson Coors Canada Inc (TPX.B.TO), Precision Drilling Corporation (PD.TO), West Fraser Timber (WFG.TO), TFI International (TFII.TO), Premium Brands Holdings (PBH.TO), goeasy (GSY.TO) and Bank of Montreal (BMO.TO) are up 1 to 3%.

Thomson Reuters (TRI.TO), Loblaw Companies (L.TO), Colliers International (CIGI.TO), Dollarama Inc (DOL.TO), CGI Inc (GIB.A.TO), Cargojet (CJT.TO), Waste Connections (WCN.TO), George Weston (WN.TO), Kinaxis Inc (KXS.TO) and Stella-Jones (SJ.TO) are down 1 to 2.5%.

TSX Ends Notably Lower As Stocks Drop On Interest Rate Concerns

The Canadian market closed notably lower on Friday, hurt by rising bond yields, and fading optimism about interest rate cuts by the Federal Reserve after data showed stronger-than-expected growth in U.S. non-farm payroll employment. Canadian employment data too came in stronger than expected, reducing prospects of any significant monetary easing by the Bank of Canada.

RTTNews | 20時59分前

Dollar Climbs Higher After Buoyant Jobs Data

The U.S. dollar firmed against its major counterparts on Friday amid fading hopes of further reductions in interest rates after data from the Labor Department showed stronger-than-expected growth in non-farm payroll employment in the month of December.

RTTNews | 21時28分前

U.S. Stocks Close Sharply Lower As Strong Jobs Data Raises Interest Rate Concerns

U.S. stocks tumbled on Friday due to heavy selling across the board as buoyant non-farm payroll data raised concerns that the Federal Reserve will likely hold interest rates at current levels or slow down the pace of reductions. Rising bond yields hurt as well.

RTTNews | 21時54分前

Swiss Market Ends Notably Lower

The Switzerland market settled notably lower on Friday, in line with markets across Europe, as upbeat U.S. jobs data raised concerns that the Federal Reserve will likely hold interest rates unchanged from current levels, or go slow on interest rate cuts this year. Data showing an increase in Swiss unemployment weighed as well.

RTTNews | 1日前

U.S. Dollar Firms As Strong Jobs Data Dampens Rate Cut Hopes

The U.S. dollar climbed against its most major counterparts in the New York session on Friday, as stronger-than-expected jobs data for December strengthened expectations that the Federal Reserve will hold rates steady for sometime.

RTTNews | 1日前

European Stocks Close Lower As Strong U.S. Jobs Data Fuels Interest Rate Concerns

European stocks closed lower on Friday after stronger-than-expected U.S. jobs data raised concerns that the Federal Reserve will hold interest rates at current levels for longer. Higher Euro zone bond yields, and potential tariff hikes by the U.S. weighed as well on investor sentiment.

RTTNews | 1日前

Canadian Stocks Tumble As Upbeat Jobs Data Raises Interest Rate Concerns

Canadian stocks are down sharply on Friday with stronger-than-expected U.S. jobs data raising concerns that the Federal Reserve will likely hold interest rates unchanged from current levels for sometime. Also, a buoyant Canadian employment reports has dimmed the prospects for further easing by the Canadian central bank for now.

RTTNews | 1日前

U.S. Consumer Sentiment Edges Lower In January As Inflation Expectations Surge

Consumer sentiment in the U.S. has unexpectedly seen a modest deterioration in the month of January, according to preliminary data released by the University of Michigan on Friday. The University of Michigan said its consumer sentiment index edged down to 73.2 in January from 74.0 in December. Economists had expected the index to inch up to 74.5.

RTTNews | 1日前

EURUSD	1.02441	GBPUSD	1.22097	AUDUSD	0.61461
USDJPY	157.737	USDCAD	1.44282	USDCHF	0.91664