Canadian Market Down Marginally In Cautious Trade

RTTNews | 806 days ago
Canadian Market Down Marginally In Cautious Trade

(RTTNews) - The Canadian market is down in negative territory Thursday afternoon, losing ground for a second successive session, after an eight-day winning streak.

Worries about global economic slowdown outweigh recent data showing inflation in the U.S. and Canada cooled in December.

The benchmark S&P/TSX Composite Index is down 19.74 points or 0.1% at 20,356.49. The index dropped to a low of 20,258.31 earlier in the session.

Healthcare and technology stocks are notably lower, while energy stocks are among the prominent gainers. Consumer staples and materials shares are finding some support.

In economic news, data from Statistics Canada said wholesale sales in Canada rose by 0.5% from a month earlier to C$83.8 billion in November of 2022, revised from preliminary estimates of a 1.9% increase and compared to the downwardly revised 1.9% rise in the prior month.

Another data from Statistics Canada showed car registrations in Canada decreased to 123,874 units in November from 132,260 units in October, 2022.

Hawkish comments from some Fed officials and data showing a drop in U.S. jobless claims in the week ended January 14th, have raised some uncertainty about the outlook for interest rates.

A report released by the Labor Department unexpectedly showed a decrease in first-time claims for U.S. unemployment benefits in the week ended January 14th.

The Labor Department said initial jobless claims fell to 190,000, a decrease of 15,000 from the previous week's unrevised level of 205,000. The dip surprised economists, who had expected jobless claims to rise to 214,000.

read more
European Stocks Tumble As China Retaliates After Trump's Tariff Moves

European Stocks Tumble As China Retaliates After Trump's Tariff Moves

European stocks plunged sharply and several market tumbled to fresh multi-month lows on Friday as U.S. President Donald Trump's sweeping tariff moves, and the retaliatory action by China raised fears of a global trade war and recession, prompting investors to press sales across the board.
RTTNews | 4h 12min ago
U.S. Job Growth Far Exceeds Estimates In March

U.S. Job Growth Far Exceeds Estimates In March

A closely watched report released by the Labor Department on Friday showed employment in the U.S. surged by much more than expected in the month of March. The Labor Department said non-farm payroll employment jumped by 228,000 jobs in March after climbing by a downwardly revised 117,000 jobs in February. Economists had expected employment to rise by 135,000 jobs.
RTTNews | 7h 46min ago
Bay Street Looks Headed For Another Weak Session

Bay Street Looks Headed For Another Weak Session

Except the yellow metal, which is up marginally, nothing else is moving up on Friday. Asian stocks tumbled, European stocks are plunging sharply and oil prices are plummeting as well, as U.S. President Donald Trump's sweeping "reciprocal tariffs" announcement has triggered fears of a strong retaliation by some major trading partners and possibility of a global recession.
RTTNews | 9h 1min ago
FTSE 100 Sinks 4.3% To Near Three-month Low

FTSE 100 Sinks 4.3% To Near Three-month Low

U.K. stocks are falling sharply, sending the benchmark FTSE 100 to a near three-month lows, as investors continue to exit counters amid rising fears of a wide-ranging trade war and a global recession following U.S. President Donald Trump's sweeping "reciprocal tariff" plans.
RTTNews | 9h 33min ago