|
|
|
|
|
|
|
|
|
|
Global markets were mixed as attention turned to interest-rate policy decisions by the Bank of Canada and U.S. Federal Reserve later today, and Big Tech earnings after markets close. |
|
|
|
|
Wall Street futures were muted after major U.S. markets closed lower yesterday on renewed AI growth concerns. |
|
|
|
|
TSX futures were little changed, with Canada’s main stock market on its longest daily losing streak this year. |
|
|
|
|
Central banks on both sides of the border are expected to keep interest rates steady. |
|
|
|
|
In Canada, investors are getting results from Canadian National Railway Co., Canadian Pacific Kansas City Ltd., Alamos Gold Inc., Brookfield Infrastructure Partners LP, Capital Power Corp., GFL Environmental Inc., Kinross Gold Corp., West Fraser Timber Co. Ltd. and Whitecap Resources Inc. |
|
|
|
|
On Wall Street, markets are watching earnings from Alphabet Inc., Microsoft Corp., Amazon.com Inc., Meta Platforms Inc., AstraZeneca PLC, AbbVie Inc., TotalEnergies SE, Qualcomm Inc. and UBS AG. |
|
|
|
|
|
|
|
|
“For us, earnings are the most important part of the story right now,” said Kate Moore, chief investment officer at Citi Wealth. First-quarter “earnings are tracking year-over-year growth and climbing,” she said. |
|
|
|
|
Overseas, the pan-European STOXX 600 was down 0.54 per cent in morning trading. Britain’s FTSE 100 slid 0.72 per cent, Germany’s DAX eased 0.41 per cent and France’s CAC 40 gave back 0.81 per cent. |
|
|
|
|
In Asia, Japan’s Nikkei was closed, while Hong Kong’s Hang Seng closed 1.68 per cent higher. |
|
|
|
|
|
|
|
|
|
|
Oil prices were on the rise, extending a multiday rally, on media reports the U.S. will extend its blockade of Iranian ports, likely prolonging supply disruptions from the key Middle East producing region. |
|
|
|
|
Brent crude futures gained 3.2 per cent to US$114.70, climbing for an eighth day. West Texas Intermediate (WTI) futures rose 3.6 per cent to US$103.60 a barrel |
|
|
|
|
“The recent rise in oil prices has been driven by the Strait blockade. If [U.S. President Donald] Trump is prepared to extend the blockade, supply disruptions would worsen further and continue to push oil prices higher,” said Yang An, an analyst at Haitong Futures. |
|
|
|
|
In other commodities, spot gold was down 0.3 per cent to US$4,579.34 an ounce after falling to its lowest level since April 2 in the previous session. U.S. gold futures for June delivery declined 0.4 per cent to US$4,59.20. |
|
|
|
|
|
|
|
|
|
|
The Canadian dollar weakened against its U.S. counterpart. |
|
|
|
|
The day range on the loonie was 73.02 US cents to 73.14 US cents in early trading. The Canadian dollar was up about 1.38 per cent against the greenback over the past month. |
|
|
|
|
The U.S. dollar index, which weighs the greenback against a group of currencies, climbed 0.12 per cent to 98.75. The U.S. dollar traded at $1.3690. |
|
|
|
|
The euro declined 0.09 per cent to US$1.1702. The British pound dropped 0.07 per cent to US$1.3507. |
|
|
|
|
In bonds, the yield on the U.S. 10-year note was last up at 4.369 per cent. |
|
|
|
|
|
|
|
|
|
|
Euro zone economic and consumer confidence |
|
|
|
|
|
|
|
|
|
|
8:30 a.m. ET: U.S. durable and core orders for March. The Street expects month-over-month increases of 0.5 per cent for both. |
|
|
|
|
8:30 a.m. ET: U.S. goods trade deficit for March (first reading). |
|
|
|
|
8:30 a.m. ET: U.S. wholesale and retail inventories for March. |
|
|
|
|
8:30 a.m. ET: U.S. housing starts for March. |
|
|
|
|
8:30 a.m. ET: U.S. building permits for March. |
|
|
|
|
9:45 a.m. ET: Bank of Canada’s policy announcement and the release of its Monetary Policy Report with Governor Tiff Macklem’s press conference to follow. |
|
|
|
|
2 p.m. ET: U.S. Fed announcement with Chair Jerome Powell’s press briefing to follow. |
|
|
|
|
With Reuters and The Canadian Press |
|
|
