Bay Street Likely To See Cautious Open

RTTNews | 862 days ago
Bay Street Likely To See Cautious Open

(RTTNews) - The Canadian market is likely to open on a cautious note on Thursday with investors looking for direction.

U.S. third-quarter GDP data, due at 8:30 AM ET, is likely to provide some clues about the Fed's likely policy stance.

Canada's average weekly earnings data is also due at 8:30 AM ET.

Canadian stocks ended on a buoyant note on Wednesday thanks to sustained buying at several counters right through the day's session.

Firm crude oil prices, a drop in Canadian consumer price inflation, and data showing a significant improvement in U.S. consumer confidence, contributed to the positive sentiment in the market.

The benchmark S&P/TSX Composite Index ended with a gain of 264.21 points or 1.37% at 19,571.10.

Asian stocks ended broadly higher on Thursday, tracking Wall Street's strong performance overnight. Sentiment was further underpinned after China said it would implement policies to support growth in 2023.

"Making good efforts will help stabilize growth next year. We should seize the time window and pay close attention to the implementation of policies," state media quoted the cabinet as saying after a regular meeting.

European stocks have turned subdued after a positive start, as the mood remains cautious ahead of upcoming Christmas holidays.

In commodities trading, West Texas Intermediate Crude oil futures are up $1.11 or 1.42% at $79.41 a barrel.

Gold futures are down slightly at $1,825.20 an ounce, while Silver futures are lower by $0.234 or 0.97% at $23.970 an ounce.

read more
U.S. Factory Orders Spike Slightly Less Than Expected In March

U.S. Factory Orders Spike Slightly Less Than Expected In March

The Commerce Department released a report on Friday showing a sharp increase by new orders for U.S. manufactured goods in the month of March. The report said factory orders spiked by 4.3 percent in March after rising by a downwardly revised 0.5 percent in February.
RTTNews | 37 minutes ago
U.S. Employment Jumps By 177,000 Jobs In April, Much More Than Expected

U.S. Employment Jumps By 177,000 Jobs In April, Much More Than Expected

Job growth in the U.S. far exceeded economist estimates in the month of April, according to a closely watched report released by the Labor Department on Friday. The Labor Department said non-farm payroll employment shot up by 177,000 jobs in April compared to expectations for an increase of about 130,000 jobs.
RTTNews | 1h 31min ago
Eurozone Inflation Remains Stable At 2.2%

Eurozone Inflation Remains Stable At 2.2%

Euro area annual inflation remained stable in April near the European Central Bank's 2 percent target, but the trade tariff uncertainty clouds the outlook. The harmonized index of consumer prices grew 2.2 percent on a yearly basis in April, the same pace of increase as seen in March, flash data from Eurostat showed on Friday. Prices were expected to climb at a slower pace of 2.1 percent.
RTTNews | 1h 55min ago
Eurozone Manufacturing Activity Shrinks At Slower Pace

Eurozone Manufacturing Activity Shrinks At Slower Pace

Euro area factory activity contracted at a slower pace in April as production grew at the fastest pace in more than three years, final data of the purchasing managers' survey by S&P Global showed Friday. The HCOB manufacturing Purchasing Managers' Index rose to a 32-month high of 49.0 in April from 48.6 in March. The score was also above the flash estimate of 48.7.
RTTNews | 2h 7min ago
Bay Street May Open Higher

Bay Street May Open Higher

The Canadian market is likely to open on a positive note on Friday, tracking firm European stocks amid easing concerns over U.S.-China trade tensions after Beijing stated its willingness to engage in tariff negotiations with the United States.
RTTNews | 2h 10min ago
SharkNinja Recalls 1.85 Mln Pressure Cookers

SharkNinja Recalls 1.85 Mln Pressure Cookers

SharkNinja Operating LLC is recalling about 1.85 million units of Foodi Multi-Function Pressure Cookers citing risk of burn, and after 26 lawsuits were filed, according to the U.S. Consumer Product Safety Commission or CPSC. In addition, about 184,240 units were sold in Canada. The agency noted that the pressure-cooking lid can be opened during use, causing hot contents to escape.
RTTNews | 2h 36min ago