Bay Street Seen Opening With Negative Bias
(RTTNews) - Canadian shares are likely to open with a slightly negative bias Friday morning, weighed down by uncertainty about tariffs, and lower bullion prices.
Investors are also likely to react to earnings updates. The market is likely to move in a tight range for much of the day's trading session.
There is no significant progress so far in U.S.-EU trade talks. Meanwhile, Canadian officials are seriously negotiating with their U.S. counterparts for a beneficial trade agreement.
The Canadian market ended marginally down on Thursday, failing to hold early gains. The benchmark S&P/TSX Composite Index, which climbed to 27,479.01, settled at 27,372.26, down 44.15 points or 0.16%.
Asian stocks ended mostly lower on Friday ahead of a key week featuring U.S. tariff decisions, big tech earnings and central bank meetings.
European stocks are broadly lower with investors awaiting progress on trade talks ahead of the August 1 deadline. Traders are also digesting corporate earnings updates and some crucial regional economic data.
In commodities trading, West Texas Intermediate Crude oil futures are up $0.18 or 0.27% at $66.21 a barrel.
Gold futures are down $22.90 or 0.68% at $3,350.60 an ounce, while Silver futures are lower by $0.144 or 0.37% at $39.080 an ounce.
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