AMD and OpenAI<\/a>.<\/p>\nWall Street futures pointed lower after the S&P 500 and Nasdaq both closed at record highs yesterday.<\/p>\n
S&P 500 futures were down 0.12 per cent, Dow futures slid 0.24 per cent and Nasdaq futures were 0.09 per cent lower as of 4 a.m. ET.<\/p>\n
TSX futures were in negative territory after Canada\u2019s main stock market reached a fresh record close yesterday.<\/p>\n
On Wall Street, markets are watching earnings from McCormick & Co. Inc.<\/p>\n
\u201cThe fundamental narrative is still one of Fed rate cuts, and that is likely to continue for the remainder of the year and into next year,\u201d said Daiwa Capital economist Chris Scicluna.<\/p>\n
\u201cCoupled with the AI story and the boost to the demand in activity that is going to be associated with it … is something that should sustain demand for risk assets,\u201d he added. \u201cYou\u2019ve got political noise maybe interrupting that, but it\u2019s certainly not a showstopper at the moment.\u201d<\/p>\n
Overseas, the pan-European STOXX 600 was down 0.02 per cent in morning trading. Britain\u2019s FTSE 100 edged up 0.07 per cent, Germany\u2019s DAX gave back 0.12 per cent and France\u2019s CAC 40 declined 0.06 per cent. <\/p>\n
In Asia, Japan\u2019s Nikkei inched higher to a fresh record close after yesterday\u2019s 4.75 per cent jump, while there was no trading in Hong Kong for a holiday. <\/p>\n
Commodities<\/p>\n
Oil prices were steady as investors assessed a smaller-than-expected November output hike by OPEC+ against the backdrop of oversupply expectations.<\/p>\n
Brent crude futures slipped 0.23 per cent to US$65.32 a barrel. West Texas Intermediate (WTI) crude shed 0.28 per cent to US$61.52.<\/p>\n
Both contracts settled up more than 1 per cent yesterday.<\/p>\n
\u201cBrent had fallen by around US$5 per barrel last week in response to earlier expectations of a larger supply boost, so this mild rebound seems reasonable,\u201d said Anh Pham, a senior analyst at LSEG.<\/p>\n
\u201cFor now, the market still appears capable of accommodating the extra volume.\u201d<\/p>\n
In other commodities, spot gold held its ground at US$3,956.02 an ounce after hitting an all-time high of US$3,977.19 earlier in the session. U.S. gold futures for December delivery were steady at US$3,972.20.<\/p>\n
Currencies and bonds<\/p>\n
The Canadian dollar weakened against its U.S. counterpart.<\/p>\n
The day range on the loonie was 71.61 US cents to 71.73 US cents in early trading. The Canadian dollar was down about 0.8 per cent against the greenback over the past month. <\/p>\n
The U.S. dollar index, which weighs the greenback against a group of currencies, gained 0.33 per cent to 98.43. <\/p>\n
The euro dropped 0.38 per cent to US$1.1667. The British pound declined 0.36 per cent to US$1.3438. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last up at 4.171 per cent.<\/p>\n
Economic news<\/p>\n
*Note: Several scheduled U.S. data reports may not be released if the U.S. government shutdown isn\u2019t resolved.<\/p>\n
Prime Minister Mark Carney meets U.S. President Donald Trump in Washington<\/p>\n
8:30 am ET: Canada merchandise trade balance for August. Consensus is for a deficit of $5.7-billion<\/p>\n
8:30 am ET: U.S. goods and services trade balance for August. A US$61-billion deficit is expected (tentative)<\/p>\n
10 am ET: Canada\u2019s Ivey PMI for September<\/p>\n
Several Federal Reserve members expected to speak throughout the day<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global stocks regained some stability as political upheaval in France, Japan and the U.S. weighed on markets,…\n","protected":false},"author":2,"featured_media":194904,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[3244,45,49,48,3245,3237,3240,2640,3242,3246,100,166,3247,3241,3239,3243,3238],"class_list":{"0":"post-194903","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-markets","8":"tag-bonds","9":"tag-business","10":"tag-ca","11":"tag-canada","12":"tag-canadian-dollar","13":"tag-dow-jones","14":"tag-equities","15":"tag-futures","16":"tag-gold","17":"tag-loonie","18":"tag-markets","19":"tag-nasdaq","20":"tag-newnewsletter","21":"tag-oil","22":"tag-sd","23":"tag-silver","24":"tag-tsx"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/194903","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=194903"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/194903\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/194904"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=194903"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=194903"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=194903"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}