Bay Street Likely To Open On Mixed Note
(RTTNews) - Canadian stocks are likely to open on mixed note on Friday, with investors tracking commodity prices and assessing recent monetary policy moves and weighing inflation outlook. Activity for most part of the session could be a bit lackluster amid a lack of fresh data or corporate news.
Data from Statistics Canada showed Canada's new housing prices fell 0.1% month over month in August, matching the decline recorded in July. The drop was also the same as in the previous two months and remained the smallest since prices last increased in February.
Canadian stocks moved notably higher on Thursday, offsetting the losses from the two previous sessions as market sentiments received a boost after Middle East tensions eased and crude oil prices tumbled following U.S. President Donald Trump's message that the war with Iran is moving towards the end.
The benchmark S&P/TSX Composite Index traded firmly positive throughout the session before settling at 35,874.26, up by 382.99 points or 1.08%.
Asian markets closed higher on Friday, with technology stocks leading the surge after reports emerged that SK Hynix and Intel are in early talks to produce memory chips together at Intel's idle Ohio complex in the United States.
Major European markets are notably lower today, weighed down by inflation concerns and interest rate-trajectory of major central banks.
In commodities trading, West Texas Intermediate Crude oil futures are down marginally at $101.81 a barrel.
Gold futures are up $5.00 or 0.11% at $4,404.70 an ounce, while Silver futures are up $0.92 or 1.4% at $67.020 an ounce.
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