Bay Street Seen Opening Roughly Flat; GDP Data In Focus
(RTTNews) - Canadian stocks look headed for a somewhat flat start Thursday morning after recent record highs. Third-quarter GDP data may provide some direction to the market.
Statistics Canada is scheduled to release Canada's third-quarter GDP data at 8:30 AM ET.
Canadian stocks climbed to fresh record high on Wednesday amid rising optimism about an interest rate cut by the Federal Reserve in December.
The benchmark S&P/TSX Composite Index settled up by 279.60 points or 0.9% at 31,180.25, a new record closing high.
U.S. Federal Reserve Chair Jerome Powell's term expires in May 2026. A Bloomberg report indicated that White House National Economic Council Director Kevin Hassett has emerged as the frontrunner as the next Fed Chair.
Hassett's economic perspectives align much with that of U.S. President Donald Trump, who is in favor of a low-interest rate regime.
Asian stocks closed higher on Thursday, tracking the tech rally in Wall Street. Optimism about a Fed rate cut in December aided sentiment.
European stocks are turning in a mixed performance today with the bulls taking a breather after recent surge.
In commodities trading, West Texas International Crude oil futures are up $0.20 or 0.3% at $58.85 a barrel.
Gold futures are down $17.90 or 0.43% at $4,184.40 an ounce, while Silver futures are down slightly at $53.605 an ounce.
UK Jobless Rate Remains Unchanged; Wage Growth Cools
European Shares Set For Cautious Open
Indian Shares Modestly Higher In Cautious Trade As IT Stocks Surge
Asian Markets Track Wall Street Lower
Indian Shares Seen Little Changed At Open
Lower Open Expected For Thai Stock Market
Indonesia Bourse May See Continued Consolidation On Tuesday
