Equities<\/p>\n
Global markets were mixed as escalating U.S.-China economic tensions and uncertainty about political developments in Japan sapped investor confidence.<\/p>\n
Wall Street futures were in positive territory after U.S. markets closed lower yesterday as the U.S. government shut down meant no new data to assess the economy.<\/p>\n
TSX futures edged lower after Canada\u2019s main stock market saw its biggest decline in more than two months yesterday. Canadian markets will be closed Monday for the Thanksgiving holiday.<\/p>\n
In Canada, investors are getting results from MTY Food Group Inc. <\/p>\n
Doubts began to emerge on whether Japanese prime minister-in-waiting Sanae Takaichi could repeat the pro-market policies of the late Shinzo Abe after reports the Komeito party will leave the ruling coalition.<\/p>\n
\u201cPolitical and economic conditions in Japan are quite different today than in 2012 when Abenomics was first launched,\u201d analysts at Alpine Macro wrote in a research report. \u201cThe lack of a parliamentary majority, an independent [central bank], and voters\u2019 anger with higher inflation should prevent Takaichi from pursuing aggressive reflationary policies.\u201d<\/p>\n
Overseas, the pan-European STOXX 600 was flat in morning trading. Britain\u2019s FTSE 100 slid 0.1 per cent, Germany\u2019s DAX gained 0.05 per cent and France\u2019s CAC 40 rose 0.24 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei closed 1.01 per cent lower, while Hong Kong\u2019s Hang Seng dropped 1.73 per cent. <\/p>\n
Commodities<\/p>\n
Oil prices declined after settling about 1.6 per cent lower yesterday, as the market\u2019s risk premium faded after Israel and Hamas agreed to the first phase of a plan to end the war in Gaza.<\/p>\n
Brent crude futures were down 0.25 per cent at US$65.06 a barrel. West Texas Intermediate (WTI) crude slipped 0.11 per cent to US$61.44.<\/p>\n
\u201cFinally having some kind of peace process in the Middle East is lowering the shoulders a little bit,\u201d said Bjarne Schieldrop, chief commodities analyst at SEB. This could ease fears about crude carriers passing through the Suez Canal and the Red Sea, he said.<\/p>\n
In other commodities, spot gold fell 0.1 per cent to US$3,970.11 an ounce, but has climbed 2.3 per cent this week. U.S. gold futures for December delivery rose 0.3 per cent to US$3,983.70.<\/p>\n
Currencies and bonds<\/p>\n
The Canadian dollar was little changed against its U.S. counterpart.<\/p>\n
The day range on the loonie was 71.25 US cents to 71.36 US cents in early trading. The Canadian dollar was down about 1.23 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, slid 0.25 per cent to 99.29. <\/p>\n
The euro rose 0.09 per cent to US$1.1576. The British pound edged down 0.05 per cent to US$1.3297. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last down at 4.115 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
8:30 am ET: Canada employment report for September. Consensus is for a net loss of 2,500 jobs, an improvement from August\u2019s decline of 65,500 jobs. The unemployment rate is expected to rise to 7.2 per cent from 7.1 per cent. Average hourly earnings are expected to be up 3.2 per cent from a year earlier, a steady reading.<\/p>\n
10 am ET: University of Michigan consumer sentiment for October, which is expected to see a modest improvement from last month.<\/p>\n
2 pm ET: U.S. budget balance (tentative)<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global markets were mixed as escalating U.S.-China economic tensions and uncertainty about political developments in Japan sapped…\n","protected":false},"author":2,"featured_media":202323,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[3244,49,48,3245,3237,3240,2640,3242,3246,166,3247,44,3241,3239,3243,3238],"class_list":{"0":"post-202322","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-canada","8":"tag-bonds","9":"tag-ca","10":"tag-canada","11":"tag-canadian-dollar","12":"tag-dow-jones","13":"tag-equities","14":"tag-futures","15":"tag-gold","16":"tag-loonie","17":"tag-nasdaq","18":"tag-newnewsletter","19":"tag-news","20":"tag-oil","21":"tag-sd","22":"tag-silver","23":"tag-tsx"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/202322","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=202322"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/202322\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/202323"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=202322"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=202322"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=202322"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}