Bay Street Seen Opening On Mixed Note; U.S. CPI, PCE Readings In Focus
(RTTNews) - Canadian stocks may open on a mixed note Thursday morning, with investors assessing Canada non-farm payroll data, and U.S. consumer price inflation and personal consumption expenditure readings.
Investors will also be reacting to the monetary policy announcements from the Bank of England and the European Central Bank. While the BoE lowered its interest rate by 25 basis points, the ECB is widely expected hold rates steady.
Canadian stocks showed a lack of direction over the course of the trading session on Wednesday despite an early upmove. Energy stocks gained as crude oil prices climbed higher after U.S. President Donald Trump ordered a blockade of sanctioned oil tankers in Venezuela.
The benchmark S&P/TSX Composite Index, which bounced back and forth across the unchanged line, eventually settled at 31,250.02 with a loss of 13.91 points or less than a tenth of a percent.
Energy stocks showed a strong move to the upside, however, with the S&P/TSX Capped Energy Index jumping by 1.5 percent.
Asian stocks ended mostly lower on Thursday after the S&P 500 and the tech-heavy Nasdaq plummeted to three-week lows overnight on concerns about lofty valuations for technology stocks.
The major European markets are turning in a mixed performance with investors reacting to the BoE's rate cut announcement, and looking ahead to ECB's rate decision, and U.S. inflation and PCE readings.
In commodities trading, West Texas Intermediate Crude oil futures are up slightly at $60.00 a barrel.
Gold futures are down $19.10 or 0.44% at $4,354.80 an ounce, while Silver futures are lower by $0.546 or 0.82% at $66.355 an ounce.
U.S. Dollar Rises Amid Fed Rate Hike Signals
U.S. Dollar Rises Against Majors
European Markets Seen Ushering In New Week On A Weak Note
NZ Dollar Falls Amid RBNZ Dovish Signals
NZ Dollar Falls Against Majors
Australian Market Trims Early Slight Losses In Mid-market
Asian Markets Trade Mostly Lower
