TSX Extends Losses To 5th Session, Sheds Nearly 1%

RTTNews | 1007 วันที่ผ่านมา

(RTTNews) - The Canadian market turned in another weak performance as stocks fell amid concerns tighter monetary policies from central banks could push the economy into a recession.

The Federal Reserve, which is scheduled to announce its monetary policy on Wednesday, is widely expected to raise interest rate 50 basis points. Analsysts at Goldman Sachs and JP Morgan Chase expect the Fed to raise interest rates by 75 basis points.

Stocks from almost all sectors reeled under selling pressure. Utilities, communications and energy stocks were among the most prominent losers. Real estate and technology stocks too ended mostly lower.

The benchmark S&P/TSX Composite Index, which dropped to a low of 19,435.02, ended the session with a loss of 194.05 points or 0.98% at 19,548.51, extending losses to a fifth session.

Bombardier Inc (BBD.B.TO) plunged more than 18%. Tourmaline Oil Corp (TOU.TO) shed about 6.5%. Precision Drilling (PD.TO), Kinaxis Inc (KXS.TO), BCE Inc (BCE.TO), Agnico Eagle Mines (AEM.TO), Shopify Inc (SHOP.TO) and Cargojet (CJT.TO) lost 2 to 5%.

Nutrien (NTR.TO), Goeasy (GSY.TO), Fairfax Financial Holdings (FFH.TO), Teck Resources (TECK.A.TO), Ritchie Bros. Auctioneers (RBA.TO), Thomson Reuters (TRI.TO) and Canadian National Railway (CNR.TO) were among the notable gainers in the session.

On the economic front, data from Statistics Canada said car registrations in the country decreased to 143,148 units in April from 144,597 units in the previous month.

Another data from Statistics Canada showed manufacturing sales in Canada rose by 1.7% from a month earlier to C$ 72.3 billion in April of 2022, slowing from an upwardly revised 3.5% advance in the previous month but faster than a preliminary estimate of 1.6%. It was the seventh straight month of growth in manufacturing sales.

European Stocks Close Higher Ahead Of Kep Political Events, Central Bank Meetings

European stocks closed higher on Monday with investors indulging in some selective buying ahead of central bank meetings and a crucial vote on a spending plan in Germany, while continuing to monitor the developments on Russia-Ukraine conflict.

RTTNews | 4 ชม. 15 นาทีที่ผ่านมา

U.S. Business Inventories Rise In Line With Estimates In January

Business inventories in the U.S. increased in line with economist estimates in the month of January, according to a report released by the Commerce Department on Monday. The Commerce Department said business inventories rose by 0.3 percent in January after dipping by 0.2 percent in December. The rebound matched expectations.

RTTNews | 6 ชม. 54 นาทีที่ผ่านมา

U.S. Homebuilder Confidence Slumps To Seven-Month Low In March

A report released by the National Association of Home Builders on Monday showed a continued deterioration by U.S. homebuilder confidence in the month of March. The report said the NAHB/Wells Fargo Housing Market Index fell to 39 in March after slumping to 42 in February. Economists had expected the index to remain unchanged.

RTTNews | 7 ชม. 29 นาทีที่ผ่านมา

New York Manufacturing Activity Drops Significantly In March

The Federal Reserve Bank of New York released a report on Monday showing regional manufacturing activity dropped significantly in the month of March. The New York Fed said its general business conditions index plunged to a negative 20.0 in March after jumping to a positive 5.7 in February, with a negative reading indicating contraction. Economists had expected the index to fall to a negative 1.9.

RTTNews | 7 ชม. 45 นาทีที่ผ่านมา

U.S. Retail Sales Rebound In February But Much Less Than Expected

After reporting a notable decrease by U.S. retail sales in the previous month, the Commerce Department released a report on Monday showing a modest rebound by retail sales in the month of February. The Commerce Department said retail sales rose by 0.2 percent in February after tumbling by a revised 1.2 percent in January. Economists had expected retail sales to climb by 0.7 percent.

RTTNews | 7 ชม. 48 นาทีที่ผ่านมา