Bay Street May Open Slightly Higher

RTTNews | 1584 hari yang lalu

(RTTNews) - Slightly higher U.S. and Canadian futures point to a positive start for the Canadian market Thursday morning. However, sluggish commodity prices and concerns about inflation and rate hikes are likely to render the mood cautious.

Data on Canadian wholesale sales and manufacturing sales for the month of May will be out at 8:30 AM ET.

Data released by Statistics Canada on Wednesday showed Canada's annual inflation quickened to 7.7% in May of 2022, the highest since January 1983 and above market expectations of 7.4%. The Consumer Price Index in Canada increased 1.4% in May of 2022 over the previous month.

The Canadian market ended sharply lower on Wednesday, weighed down by sharp losses in energy and materials sections. The benchmark S&P/TSX Composite Index, which plunged to a low of 18,871.70, ended the session with a loss of 253.25 points or 1.32% at 19,004.04.

Asian stocks turned in a mixed performance on Thursday after Federal Reserve Chair Jerome Powell said he believed the U.S. economy is strong enough to handle coming interest rate hikes but acknowledged that a recession could happen.

Chinese stocks rose sharply, led by electric vehicle shares, on reports that Beijing is considering extending tax exemptions. Additionally, a top-level meeting on Wednesday approved a plan for the healthy development of China's large payment firms and fintech sector.

European stocks have come off early lows and are trading mixed amid cautious moves by investors as recession fears continue to weigh on sentiment.

In commodities trading, West Texas Intermediate Crude oil futures are up marginally at $106.32 a barrel.

Gold futures are down $6.10 or 0.3% at $1,832.30 an ounce, while Silver futures are down $0.321 or 1.5% at $21.095 an ounce.

baca selengkapnya

U.S. Dollar Advances As Concerns Of Rate Hike Due To Possible Higher Inflation Increase

The U.S. Dollar value edged higher on Friday as crude oil prices continued to surge for the second day supported by concerns of a potential U.S.-Iran war. Oil-driven inflation worries have led to expectations of an interest rate hike in the U.S.

RTTNews | 11 jam 29 menit yang lalu

Canadian Market Remains Weak Despite Coming Off Early Lows

The Canadian stock market's benchmark S&P/TSX Composite Index remains firmly down in negative territory Friday afternoon despite regaining a significant portion of the ground it lost in early trades. Concerns about inflation and prospects of interest rate hikes amid elevated oil prices following the latest Houthi attacks on Saudi targets weigh on sentiment.

RTTNews | 13 jam 46 menit yang lalu

Swiss Market Ends Moderately Lower

After edging up a bit at the start, the Swiss market retreated and stayed in negative territory throughout the session on Friday. Worries about inflation and possible monetary tightening by several global central banks rendered the mood cautious.

RTTNews | 14 jam 15 menit yang lalu

European Stocks Close Lower On Earnings, Weak Economic Data

The major European markets closed lower on Friday as largely weak regional PMI data, and concerns about inflation and monetary tightening amid continued rise in oil prices hurt sentiment. France's debt woes and uncertainty about returns on AI-related investments weighed as well.

RTTNews | 14 jam 37 menit yang lalu

U.S. Consumer Sentiment Deteriorates Far Less Than Previously Estimated In October

The University of Michigan released a report on Friday showing consumer sentiment in the U.S. deteriorated by far less than previously estimated in the month of October. The report said the University of Michigan's consumer sentiment index for October was upwardly revised to 48.0 from a preliminary reading of 46.3.

RTTNews | 17 jam 41 menit yang lalu

Bay Street Look Headed For Weak Start

Canadian stocks are likely to open on a weak note on Friday amid concerns about inflation and prospects of interest rate hikes by the Canadian and U.S. central banks. Oil prices are up sharply, while precious metals are notably lower. Canadian retail sales data, and quarterly earnings updates, as well as U.S. PMI reports are set to make a notable impact on price movements.

RTTNews | 20 jam 0 menit yang lalu

Eurozone Private Sector Growth At 4-Month Low

The euro area private sector softened to a four-month low in October as activity in France shifted back into contraction amid tightening financial conditions and rising political pressures, flash purchasing managers' survey data from S&P Global revealed Friday. The composite output index fell to 51.9 in October from 53.1 in the previous month, falling below the economist forecast of 52.7.

RTTNews | 20 jam 18 menit yang lalu

FTSE 100 Falls 0.5% On Weak Retail Sales, Consumer Confidence Data

The FTSE 100 declined 52.73 points to 10,672.32 Friday as weak retail sales, declining consumer confidence, and Middle East tensions offset private sector expansion. Retail sales fell 0.4% in September versus forecasts of 0.1%, while consumer sentiment hit its sharpest pandemic-era drop.

RTTNews | 20 jam 20 menit yang lalu

EURUSD	1.1202	GBPUSD	1.3372
USDJPY	156.819	USDCAD	1.39976