Bay Street Likely To Open With Slightly Negative Bias

RTTNews | 935 hari yang lalu

(RTTNews) - Canadian shares are likely to open with a negative bias Monday morning, tracking weak global cues, and amid caution ahead of the crucial data on U.S. consumer price inflation and producer prices, due this week.

In Canadian earnings news, SilverCrest Metals Inc. (SIL.TO) reported net income of $35.9 million for the fourth quarter of 2023, compared to net income of $5.23 million in the year-ago quarter.

Endeavour Silver Corp (EDR.TO) reported full-year (2023) net income of $6.1 milliion, compared to $6.2 million in 2022.

The Canadian market failed to hold early gains and ended modestly lower on Friday, weighed down a bit by the mixed batch of economic data from Canada and the U.S.

The benchmark S&P/TSX Composite Index, which climbed to a fresh 52-week high of 21,892.06 in early trades, eventually ended the day's session with a loss of 57.03 points or about 0.26% at 21,737.53. The index gained about 0.85% in the week.

Data from Statistics Canada showed employment in Canada rose by 40,700 in February, after seeing an addition of 37,300 jobs in January. The data showed the unemployment rate in Canada rose to 5.8% in February, up from 5.7% in January.

Asian stocks ended mixed on Monday after the latest U.S. jobs report sent mixed signals about the state of the world's largest economy.

While a stronger yen pressured Japanese stocks, encouraging inflation data helped spur buying in mainland Chinese and Hong Kong.

European stocks are down in negative territory amid much uncertainty about the outlook for interest rates.

In commodities, West Texas Intermediate Crude oil futures are down $0.49 or 0.6% at $77.52 a barrel.

Gold futures are down marginally at $2,184.90 an ounce, while Silver futures are flat at $24.549 an ounce.

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Swiss Market Ends On Firm Note

Save for a few minutes at the start, the Switzerland market's benchmark index SMI stayed positive on Friday as lower oil prices and bond yields helped underpin sentiment. Additionally, weaker than expected jobs data from the U.S. has somewhat reduced the likelihood of the Federal Reserve raising interest rates at its next meeting later this month.

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Canadian Market Remains Firmly Up In Positive Territory

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Euro Slides Against Majors

The euro weakened against other major currencies in the European session on Friday.

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Retail giant Walmart Inc. is recalling around 4.478 million units of metal wire bristle grill brushes, citing risk of ingestion and internal injuries, according to the U.S. Consumer Product safety Commission or CPSC. The recall involves certain Walmart Expert Grill brushes with black plastic or stainless-steel handles. Some brushes come with metal scraper attached.

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Bay Street Headed For Positive Start

Canadian stocks look headed for a positive start on Friday with concerns about inflation and interest rates easing a bit following a sharp drop in oil prices. Bond yields have dropped as well. U.S. non-farm payroll data for the month of September is likely to make an impact on investor sentiment.

RTTNews | 6 jam 18 menit yang lalu

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