Bay Street Likely To Open Slightly Weak

RTTNews | 821 days ago
Bay Street Likely To Open Slightly Weak

(RTTNews) - Sluggish commodity prices and subdued European stocks point to a slightly negative start for the Canadian market on Monday.

With major central banks, including the Federal Reserve, the Bank of England and the European Central Bank set to announce their interest rate decisions this week, the mood is likely to remain cautious.

The Canadian stock market ended marginally up on Friday thanks to strong gains in technology and energy sectors. The benchmark S&P/TSX Composite Index ended with a small gain of 13.98 points or 0.07% at 20,714.48. The index scaled a low of 20,621.91 and a high of 20,762.95.

Asian stocks fell broadly on Monday as investors looked ahead to a busy week of central bank announcements and earnings updates from U.S. tech heavyweights Amazon, Apple, Alphabet and Meta Platforms.

Chinese shares eked out modest gains as traders returned to their desks after a week-long holiday.

China's Shanghai Composite index edged up 0.14 percent to 3,269.32 as the country reported a sharp drop in new COVID-related deaths during the Lunar New Year holiday and the State Council vowed to boost consumption this year.

European stocks are broadly lower in cautious trade with investors focusing on major earnings updates and looking ahead to a slew of central bank meetings.

Data showing a drop in German GDP is weighing as well.

In commodities trading, West Texas Intermediate Crude oil futures are down slightly at $79.66 a barrel.

Gold futures are down $3.70 or 0.19% at $1,925.70 an ounce, while Silver futures are gaining $0.158 or 0.68% at $23.780 an ounce.

read more
Eurozone GDP Growth Gains Strength In Q1

Eurozone GDP Growth Gains Strength In Q1

Euro area economic growth accelerated in the first quarter as exports may have benefited from higher demand from the U.S. ahead of the imposition of higher trade tariffs. The quarterly growth in gross domestic product doubled to 0.4 percent from 0.2 percent seen in the fourth quarter of 2024, preliminary flash estimates from Eurostat showed on Wednesday.
RTTNews | 13 minutes ago
Indian Rupee Rises On Trade-deal Hopes

Indian Rupee Rises On Trade-deal Hopes

The Indian rupee strengthened against the U.S. dollar in the European session on Wednesday, as investor mood was bolstered by trade-deal prospects and foreign fund inflows.
RTTNews | 51 minutes ago
Canadian Stocks Likely To Open On Mixed Note; GDP Data, Earnings In Focus

Canadian Stocks Likely To Open On Mixed Note; GDP Data, Earnings In Focus

Canadian shares are likely to open on a mixed note on Wednesday with investors looking ahead to earnings updates from big name U.S. tech companies, including Microsoft and Meta Platforms. Canadian GDP data is also likely to make a significant impact on investor sentiment.
RTTNews | 53 minutes ago
Thai Central Bank Cuts Rate By 25 Bps

Thai Central Bank Cuts Rate By 25 Bps

The Bank of Thailand reduced its benchmark interest rate by a quarter-point, as expected, to withstand the downside risks to the growth outlook amid the heightened uncertainty posed by trade policies of major economies. The Monetary Policy Committee voted 5-2 to cut the policy rate to 1.75 percent from 2.00 percent. Two members voted to maintain the interest rate at 2.00 percent.
RTTNews | 1h 6min ago
Yen Falls On Trade Deal Hopes

Yen Falls On Trade Deal Hopes

The Japanese yen weakened against other major currencies in the European session on Wednesday as European stock markets traded higher amid expectations of a potential trade deal with the United States.
RTTNews | 2h 2min ago
UK Stocks Turning In Mixed Performance; FTSE 100 Up Marginally At Noon

UK Stocks Turning In Mixed Performance; FTSE 100 Up Marginally At Noon

The U.K. market is up marginally around noon on Wednesday, extending is long winning streak, amid easing worries about trade tensions. Investors are also digesting a fresh batch of earnings updates, and data showing a bigger than expected drop in house prices.
RTTNews | 2h 22min ago