Bay Street Likely To Open On Subdued Note; Fed Policy In Focus
(RTTNews) - Canadian shares likely to open on a subdued note Wednesday morning with investors awaiting the Federal Reserve's monetary policy announcement due later in the day.
The U.S. central bank is widely expected to keep rates steady, but the focus will be about what Fed officials say about lowering rates.
In Canadian company news, Boyd Group Services Inc (BYD.TO) said its adjusted net earnings increased 111.7% to $89.7 million in 2023, compared with $42.4 million in adjusted net earnings in 2022.
DAVIDsTEA Inc., a leading tea merchant in North America, announced today it has secured an exclusive supplier agreement with Alimentation Couche-Tard Inc. (ATD.TO) to offer a premium "Tea-2-Go" in-store experience at over 1,500 convenience stores across Canada.
The Canadian market ended slightly higher on Tuesday, thanks largely to data showing a surprise fall in the nation's headline inflation aiding sentiment. The mood, however, remained cautious right through the day's trading session.
The benchmark S&P/TSX Composite Index ended with a gain of 23.40 points or 0.11% at 21,860.58. The index, which briefly slipped below the flat line to 21,832.73 around late morning, touched a high of 21,931.38 in the session.
Asian stocks ended broadly higher on Wednesday as bond yields dipped ahead of the U.S. central bank's monetary policy announcement later in the day.
European stocks are quite subdued today as investors look ahead to the Fed and BoE policy meetings for direction.
In commodities, West Texas Intermediate Crude oil futures are down $1.01 or 1.22% at $82.46 a barrel.
Gold futures are down $3.70 or 0.17% at $2,156.00 an ounce, while Silver futures are lower by $0.105 or 0.42% at $25.030 an ounce.
Swiss Market Ends On Firm Note
European Markets Recover From Multi-month Lows, Close On Positive Note
Canadian Market Remains Firmly Up In Positive Territory
U.S. Factory Orders Inch Up In Line With Estimates In August
U.S. Employment Rises By 29,000 Jobs In September, Much Less Than Expected
Euro Slides Against Majors
Walmart Recalls Over 4.4 Mln Grill Brushes For Ingestion Risk
