Materials, Energy Stocks May Climb Higher On Firm Commodity Prices

RTTNews | 1 jam 37 menit yang lalu

(RTTNews) - Bay Street is likely to open on a positive note on Thursday, tracking higher crude oil and precious metals prices. Still, inflation and interest rate concerns and higher bond yields could weigh on sentiment and limit market's upside.

West Texas Intermediate Crude oil futures are up $1.35 or 1.49% at $91.73 a barrel.

Gold futures are up $21.50 or 0.51% at $4,208.20 an ounce, while Silver futures are gaining $0.759 or 1.25% at $61.325 an ounce.

S&P Global's reading of Canadian Manufacturing PMI for the month of September is due at 9:30 AM ET.

The S&P Global Canada Manufacturing PMI edged lower to 53.0 in August from 53.5 in July, remaining above the 50.0 no-change threshold for a fifth consecutive month.

Canadian stocks moved mostly lower during trading on Wednesday, extending the downward trend seen over the past several sessions.

The benchmark S&P/TSX Composite Index settled with a loss of 224.40 points or 0.6% at 35,235.87.

Sentiment was supported by upbeat results released by U.S. memory chip maker Micron a day earlier. Equity markets in China and Hong Kong were closed for a holiday.

European markets are down in negative territory amid concerns about inflation as oil prices climbed higher and bond yields remained elevated. Investors, digesting mixed economic data from the region, also assessed the situation in the Middle East.

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EURUSD	1.12899	GBPUSD	1.32273
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