Bay Street Likely To See Wild Swings In Early Trades; Jobs Data In Focus

RTTNews | 938 hari yang lalu
Bay Street Likely To See Wild Swings In Early Trades; Jobs Data In Focus

(RTTNews) - Canadian and U.S. jobs data will set the mood for the Canadian market on Friday. Despite optimism about interest rate cuts happening in the second quarter, the mood of the investors may well change if employment data from these two nations fall short of expectations.

Materials shares may find support from higher bullion prices, but it's likely to be a bit tough for energy stocks amid concerns about the outlook for oil demand from China.

The Canadian market ended on a firm note on Thursday amid rising optimism several central banks will cut interest rates in the second quarter.

The benchmark S&P/TSX Composite Index ended with a gain of 200.60 points or 0.93% at 21,794.56, a fresh one-year closing high.

Asian stocks closed higher on Friday, with several markets hitting multi-month highs, amid hopes the Federal Reserve and a few other central banks will start cutting interest rates in the second quarter of the year.

European stocks are slightly volatile with investors looking ahead to U.S. non-farm payroll data for directional clues.

In commodities, West Texas Intermediate Crude oil futures are down $0.52 or 0.66% at $78.41 a barrel.

Gold futures are gaining $7.80 or 0.36% at $2,173.00 an ounce, while Silver futures are up $0.127 or 0.52% at $24.705 an ounce.

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