Canadian Market Down Marginally In Cautious Trade; Tech Stocks Move Higher

RTTNews | 10s 17 dakika önce

(RTTNews) - The Canadian market is up in positive territory a little past noon on Friday with the benchmark S&P/TSX Composite Index hovering near record high, thanks largely to strong buying in the technology sector after encouraging earnings updates from big name U.S. companies such as Apple Inc. and Meta Platforms.

Investors are also digesting a batch of Canadian economic data. The upside is limited as the mood is cautious with markets looking for clarity on whether the Trump administration would follow through with its tariff threats on Canada.

The benchmark S&P/TSX Composite Index is down 23.30 points or 0.09% at 25,784.95 nearly half an hour past noon.

Data from Statistics Canada showed Canadian real gross domestic product decreased 0.2% in November. According to preliminary estimates, the economy rebounded in December and GDP likely grew 0.2%.

The Information Capped Technology is climbing nearly 2%. Celestica Inc (CLS.TO) is soaring 12.5% on rating upgrade.

Bitfarms (BITF.TO) is gaining 2.5%. BlackBerry (BB.TO), Shopify Inc (SHOP.TO) and CGI Group Inc (GIB.A.TO) are up 1.1 to 1.3%.

Hut 8 Corp (HUT.TO), Innergex Renewable Energy (INE.TO), Boralex Inc (BLX.TO), Northland Power (NPI.TO), Dayforce (DAY.TO), Quebecor (QBR.TO), Cameco Corporation (CCO.TO), CGI Inc (GIB.A.TO) and Great-West Lifeco (GWO.TO) are up 1 to 4%.

Imperial Oil Ltd. (IMO.TO) is down 4.5%. reported that fourth-quarter net income declined to C$1.23 billion or C$2.37 per share from C$1.37 billion or C$2.47 per share in the prior-year quarter. Total revenues and other income for the quarter decreased to C$12.61 billion from C$13.11 billion in the same quarter last year.

Finning International (FTT.TO), Propel Holdings (PRL.TO), Russel Metals (RUS.TO), Spin Master Corp (TOY.TO), Rogers Communications (RCI.B.T) and Linamar Corporation (LNR.TO) are up 2.5 to 5.2%.

German Inflation Unexpectedly Eases In January

Consumer price pressures in Germany slowed unexpected at the start of the year amid a sharp slowdown in food inflation, offering some relief for the European Central Bank that lowered interest rates a day earlier and plan to continue easing to boost the single currency economy that came to a standstill in the final three months of 2024.

RTTNews | 7s 31 dakika önce

Swiss Markets Ends Slightly Weak

The Swiss market edged down marginally on Friday with stocks paring gains in late afternoon trade as investors chose to take some profits following a long winning streak. Data showing a stronger than expected jump in the nation's retail sales aided sentiment.

RTTNews | 8s 41 dakika önce

Major European Markets Close Slightly Higher

European stocks saw some profit taking in late afternoon trades on Friday, but the major markets in the region still managed to close slightly up. Investors assessed recent economic data, earnings news, and monetary policy announcements of the Federal Reserve and the European Central Bank.

RTTNews | 8s 56 dakika önce

U.S. Dollar Advances Amid Trump's Tariff Threats

The U.S. dollar firmed against its most major counterparts in the New York session on Friday amid concerns about President Donald Trump's renewed pledge to slap 25 percent tariffs on imports from Canada and Mexico on February 1.

RTTNews | 10s 26 dakika önce

ECB Surveys Show Rising Eurozone Inflation Expectations

Euro area consumers' inflation expectations for the next 12 months increased for a third straight month in December, while professional forecasters revised up the projections for this year and next, separate surveys by the European Central Bank showed on Friday.

RTTNews | 10s 34 dakika önce

Chicago Business Barometer Increases But Still Indicates Contraction

MNI Indicators released a report on Friday showing its reading on Chicago-area business activity increased in the month of January but continued to indicate contraction. The report said the Chicago business barometer rose to 39.5 in January from 36.9 in December, although a reading below 50 still indicates contraction. Economists had expected the index to climb to 40.0.

RTTNews | 12s 33 dakika önce

U.S. Consumer Price Growth Matches Estimates In December

The Commerce Department released a closely watched report on Friday showing consumer prices in the U.S. increased in line with economist estimates in the month of December. The report said the personal consumption expenditures (PCE) price index rose by 0.3 percent in December after inching up by 0.1 percent in November. The increase matched expectations.

RTTNews | 12s 42 dakika önce

Bay Street Likely To Open On Mixed Note

Canadian shares are likely to open on a mixed note on Friday with investors reacting to the nation's GDP data, and treading cautiously ahead of the February 1 deadline for the imposition of trade duties on Canada.

RTTNews | 13s 50 dakika önce

EURUSD	1.03759	GBPUSD	1.24011	AUDUSD	0.62174
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