Canadian Stocks Tumble As Fed Comments Dash Rate Cut Hopes

RTTNews | 974 hari yang lalu

(RTTNews) - The Canadian market ended notably lower on Wednesday after the Federal Reserve said it does not expect it will be appropriate to lower rates until it has gained greater confidence that inflation is moving sustainably toward 2%.

Due to widespread selling, all the sectoral indices ended in negative territory. Technology, healthcare, utilities, financials and energy stocks were among the major losers.

The benchmark S&P/TSX Composite Index ended down 205.99 points or 0.97% at 21,014.17.

Healthcare stocks Tilray Inc (TLRY.TO) and Bausch Health Companies (BHC.TO) ended down 4.3% and 3.8%, respectively.

Technology stocks Hut 8 Corp (HUT.TO) and Docebo Inc (DCBO.TO) lost 4.2% and 3.3%, respectively. Converge Technology Solutions (CTS.TO), Tecsys Inc (TCS.TO), Softchoice Corp (SFTC.TO), Quarterhill (QTRH.TO), Shopify Inc (SHOP.TO), Constellation Software (CSU.TO) and Lightspeed Commerce (LSPD.TO) ended lower by 2 to 3%.

CGI Group Inc (GIB.A.TO) gained nearly 1% after reporting higher first quarter earnings.

Canadian Utilities Ltd. (CU.TO), down 2.7%, was the biggest loser in the Utilities index. Brookfield Infra Partners (BIP.UN.TO), Algonquin Power and Utilities Corp (AQN.TO) and Superior Plus Corp (SPB.TO) ended lower by 1.8 to 2%.

Energy stocks Nuvista Energy (NVA.TO), Parex Resources (PXT.TO), Vermilion Energy (VET.TO), Tamarack Valley Energy (TVE.TO), Baytex Energy (BTE.TO), Crescent Point Energy (CPG.TO) and Imperial Oil (IMO.TO) lost 1.6 to 3.4%.

In the financials sector, Laurentian Bank (LB.TO), EQB Inc (EQB.TO), Nuvei Corp (NVEI.TO), Fairfax Financial Holdings (FFH.TO), Royal Bank of Canada (RY.TO), Bank of Montreal (BMO.TO), Canadian Imperial Bank of Commerce (CM.TO) and Toronto-Dominion Bank (TD.TO) lost 1 to 2%.

Consumer discretionary stocks Aritzia Inc (ATZ.TO), Canada Goose Holdings (GOOS.TO) and Giland Activewear (GIL.TO), and materials shares Lithium Americas Argentina Corp (LAAC.TO), First Quantum Minerals (FM.TO), Filo Mining (FIL.TO), Methanex Corp (MX.TO) and Nutrien (NTR.TO) were among the other prominent losers in the session.

Jamieson Wellness (JWEL.TO), Ag Growth International (AFN.TO) and Canadian Pacific Kansas City (CP.TO) gained 1.7 to 2%.

Data from Statistics Canada said Canada's economy likely grew 0.3% in December 2023, according to preliminary estimates. In November, GDP increased by 0.2%, higher than the preliminary estimate of 0.1% advance, and following three months of stagnation.

baca selengkapnya

TSX Remains In Negative Territory; Tech, Energy Stocks Climb Higher

Canadian stocks languish in negative territory on Thursday, tracking a sell-off in global markets due to rising oil prices and elevated bond yields.

RTTNews | 36 menit yang lalu

Swiss Market Ends Sharply Lower

The Switzerland market ended sharply lower on Thursday, like most of the markets across Europe, as higher bond yields and rising oil prices continued to hurt sentiment, prompting investors to exit counters. Data showing an acceleration in Swiss consumer price inflation in September hurt as well.

RTTNews | 1 jam 10 menit yang lalu

European Markets Slide To Multi-Month Lows Amid Energy, Yield Surge

European equities declined sharply Thursday amid rising oil prices and bond yields. The FTSE 100 fell 1.68%, DAX dropped over 1%, and CAC 40 lost 1.6%. Brent crude climbed to $101.50, up 3.5%. Regional inflation concerns raised monetary tightening prospects.

RTTNews | 1 jam 36 menit yang lalu

U.S. Construction Spending Unexpectedly Increases In August

A report released by the Commerce Department on Thursday showed an unexpected increase in U.S. construction spending in the month of August. The Commerce Department said construction spending climbed by 0.9 percent to an annual rate of $2.203 trillion in August after edging down by 0.1 percent to a revised rate of $2.185 trillion in July.

RTTNews | 4 jam 12 menit yang lalu

U.S. Manufacturing Index Edges Lower In September But Still Indicates Growth

Manufacturing activity in the U.S. expanded for the ninth consecutive month in September, according to a report released by the Institute for Supply Management on Thursday. The ISM said its manufacturing PMI edged down to 54.5 in September from 54.6 in August, but a reading above 50 still indicates growth. Economists had expected the index to inch up to 55.0.

RTTNews | 4 jam 18 menit yang lalu

U.S. Jobless Claims Unexpectedly Edge Down To 197,000

A day ahead of the release of its more closely watched monthly jobs report, the Labor Department released a report on Thursday showing first-time claims for U.S. unemployment benefits unexpectedly edged slightly lower in the week ended September 26th. The Labor Department said initial jobless claims slipped to 197,000, a decrease of 1,000 from the previous week's revised level of 198,000.

RTTNews | 5 jam 50 menit yang lalu

Accenture Shares Climb On Strong Q4, Positive Outlook, $9.5 Bln Return Plan

Shares of Accenture plc were climbing around 18 percent in pre-market activity on the NYSE after the Irish professional services company reported Thursday strong growth in fourth-quarter earnings, revenues and bookings, with improved performance in all industry groups and regions. Further, the firm issued positive outlook for first quarter and fiscal 2027.

RTTNews | 5 jam 53 menit yang lalu

Bond Yields, Oil Prices Drive European Stocks To Multi-Month Low

European equities declined sharply Thursday amid weak UK housing data and softer French manufacturing reports. Despite easing US inflation concerns, investors remained reluctant to add stock positions. Oil prices climbed on Middle East tensions, with Brent crude reaching $100.79 per barrel.

RTTNews | 6 jam 3 menit yang lalu

EURUSD	1.12402	GBPUSD	1.31946
USDJPY	158.042	USDCAD	1.42304