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Bay Street Likely To Open Lower

RTTNews | 10h 39min ago

(RTTNews) - Lower Canadian and U.S. futures and weak metal prices point to a negative start on Bay Street Thursday morning.

The Canadian trade surplus widened to CAD 4.0 billion in January 2025, the largest since May 2022.

Canada's merchandise exports rose 5.5% to a record CAD 74.5 billion, while imports increased 2.3%, marking the fourth consecutive monthly rise for both.

The Ivey PMI reading for the month of February is due at 10 AM ET.

The Ivey Purchasing Managers Index in Canada dropped to 47.1 in January 2025, from 54.7 in December.

Canadian Natural Resources reported fourth quarter net earnings of C$1.14 billion compared to $2.63 billion, last year. Earnings per share was C$0.54 compared to C$1.21. Adjusted earnings per share declined to C$0.93 from C$1.17. Analysts on average expected the company to report profit per share of C$0.95, for the quarter. Analysts' estimates typically exclude special items.

The Canadian market closed on a strong note on Wednesday as stocks rallied on news the Trump administration is considering reducing the tariffs on Canadian and Mexican imports.

The mood remained positive following U.S. Secretary of Commerce Howard Lutnick hinting at some potential adjustments for U.S. tariffs on Canada and Mexico, noting that carve-outs for some industries are a possibility.

The benchmark S&P/TSX Composite Index ended with a gain of 298.82 points or 1.22% at 24,870.82.

Asian stocks advanced on Thursday after U.S. President Donald Trump exempted automakers from newly imposed tariffs on Mexico and Canada for one month, raising hopes for negotiations.

After opening higher, European stocks pared gains and are turning in a mixed performance with investors reacting to results, and taking some profits. The European Central Bank, as widely expected, has cut interest rates by 25 basis points today.

In commodities, West Texas Intermediate Crude oil futures are up $0.23 or 0.35% at $66.54 a barrel.

Gold futures are down $14.00 or 0.48% at $2,912.00 an ounce, while Silver futures are lower by $0.039 or 0.12% at $33.095 an ounce.

Swiss Market Ends Moderately Lower

The Switzerland market ended weak on Thursday, after languishing in negative territory right through the day's session as worries about global growth due to stringent tariffs by the U.S. on imports from Canada and Mexico rendered the mood a bit bearish.

RTTNews | 5h 6min ago

European Stocks Close On Mixed Note

European stocks turned in a mixed performance on Thursday as investors reacted to quarterly earnings updates and the European Central Bank's rate cut decision, while continuing to follow the developments on the tariff front.

RTTNews | 5h 42min ago

ECB Lowers Rates, EZ Growth Outlook Amid Rising Uncertainty; Signals Pause Ahead

The European Central Bank cut its key interest rates for the fifth policy session in a row and also lowered the growth forecast for the euro area mainly due to prospects of weak exports and investment in the backdrop of high trade uncertainty amid the tariffs war, and signaled a pause in the easing cycle as policy is now deemed less restrictive.

RTTNews | 8h 9min ago

U.S. Wholesale Inventories Climb Slightly More Than Expected In January

A report released by the Commerce Department on Thursday showed wholesale inventories in the U.S. increased by slightly more than expected in the month of January. The Commerce Department said wholesale inventories climbed by 0.8 percent in January after falling by a revised 0.4 percent in February.

RTTNews | 8h 40min ago

U.S. Labor Productivity Jumps More Than Previously Estimated In Q4

Labor productivity in the U.S. grew by more than previously estimated in the fourth quarter of 2024, according to a report released by the Labor Department on Thursday. The report said labor productivity shot up by 1.5 percent in the fourth quarter compared to the previously reported 1.2 percent jump. Economists had expected the increase in labor productivity to be unrevised.

RTTNews | 9h 8min ago

U.S. Jobless Claims Dip More Than Expected To 221,000

With the more closely watched monthly jobs report looming, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits fell by more than expected in the week ended March 1st. The report said initial jobless claims dipped to 221,000, a decrease of 21,000 from the previous week's unrevised level of 242,000

RTTNews | 9h 11min ago

U.S. Trade Deficit Soars To Record High In January

Reflecting a spike by the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened by more than expected in the month of January. The Commerce Department said the trade deficit surged to a record high of $131.4 billion in January from a revised $98.1 billion in December.

RTTNews | 9h 21min ago

U.S. Trade Deficit Widens More Than Expected In January

Reflecting a spike by the value of imports, the Commerce Department released a report on Thursday showing the U.S. trade deficit widened by more than expected in the month of January.

RTTNews | 10h 45min ago

EURUSD	1.07959	GBPUSD	1.28902	AUDUSD	0.63341
USDJPY	147.657	USDCAD	1.43109	USDCHF	0.88302