is expected to make<\/a> another quarter-point cut to 2.25 per cent. <\/p>\nIn Canada, investors are getting results from Canadian Pacific Kansas City Ltd., Gildan Activewear Inc., Agnico Eagle Mines Ltd., Algoma Steel Group Inc., Alamos Gold Inc., Capital Power Corp. and Ivanhoe Mines Ltd.<\/p>\n
On Wall Street, markets are watching earnings from Alphabet Inc., Microsoft Corp., Meta Platforms Inc., Caterpillar Inc., Boeing Co., Verizon Communications Inc., Starbucks Corp., Kraft Heinz and Dayforce Inc.<\/p>\n
With the \u201cMagnificent Seven\u201d tech titans Microsoft, Alphabet and Meta reporting earnings, there are lofty expectations for them to deliver strong results that would justify stretched valuations.<\/p>\n
\u201cExpectations are sky-high, and the bar for disappointment is high too,\u201d said Charu Chanana, chief investment strategist at Saxo.<\/p>\n
\u201cInvestors want to see not just solid numbers but evidence of sustained AI monetization and broadening demand beyond the initial boom. That\u2019s where the market will judge if this AI boom is becoming a bubble or not.\u201d<\/p>\n
Overseas, the pan-European STOXX 600 was up 0.11 per cent in morning trading. Britain\u2019s FTSE 100 rose 0.46 per cent, Germany\u2019s DAX inched down 0.04 per cent and France\u2019s CAC 40 gave back 0.07 per cent. <\/p>\n
In Asia, Japan\u2019s Nikkei closed 2.17 per cent higher, while Hong Kong\u2019s Hang Seng declined 0.33 per cent. <\/p>\n
Commodities<\/p>\n
Oil prices were steady on a decline in U.S. crude inventories and optimism over a meeting between the leaders of the U.S. and China, the world\u2019s two largest oil consumers.<\/p>\n
Brent crude futures were up 0.2 per cent to US$64.54 a barrel. West Texas Intermediate (WTI) crude futures gained 0.1 per cent to US$60.21.<\/p>\n
The surprise draws on inventory in the U.S. helped prices this morning, but the interplay of sanctions risks and OPEC+\u2019s posture is driving markets, said Priyanka Sachdeva, senior market analyst at Phillip Nova.<\/p>\n
\u201cThat doesn\u2019t mean the rally has unlimited upside. Because while the sanctions\/supply story has been built up, the demand side still shows softness and spare capacity remains,\u201d Sachdeva said.<\/p>\n
In other commodities, spot gold was up 1.9 per cent at US$4,028.05 an ounce, after dropping to its lowest since Oct. 6 yesterday. U.S. gold futures for December delivery gained 1.5 per cent to US$4,041.50 an ounce.<\/p>\n
Currencies and bonds<\/p>\n
The Canadian dollar strengthened against its U.S. counterpart.<\/p>\n
The day range on the loonie was 71.68 US cents to 71.82 US cents in early trading. The Canadian dollar was down about 0.04 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, rose 0.2 per cent to 98.87. <\/p>\n
The euro slipped 0.06 per cent to US$1.1646. The British pound dropped 0.36 per cent to US$1.3224. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last up at 3.993 per cent.<\/p>\n
Economic news<\/p>\n
*Note: Scheduled U.S. data reports may not be released if the government shutdown isn\u2019t resolved.<\/p>\n
Bank of Japan\u2019s policy meeting begins (through Thursday)<\/p>\n
ECB monetary policy meeting<\/p>\n
Euro zone GDP, jobless rate and economic and consumer confidence<\/p>\n
Germany, GDP, unemployment and CPI<\/p>\n
8:30 a.m. ET: U.S. goods trade deficit for September.<\/p>\n
8:30 a.m. ET: U.S. wholesale and retail inventories for September.<\/p>\n
9:45 a.m. ET: Bank of Canada policy decision. Press conference follows at 10:30 a.m. ET<\/p>\n
10 a.m. ET: U.S. pending home sales for September.<\/p>\n
2 p.m. ET: U.S. Fed announcement with Chair Jerome Powell\u2019s press briefing to follow.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global markets searched for direction as investors braced for a busy day headlined by the U.S. Federal…\n","protected":false},"author":2,"featured_media":247878,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[3244,45,49,48,3245,3237,3240,2640,3242,3246,166,3247,3241,3239,3243,3238],"class_list":["post-247877","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-bonds","tag-business","tag-ca","tag-canada","tag-canadian-dollar","tag-dow-jones","tag-equities","tag-futures","tag-gold","tag-loonie","tag-nasdaq","tag-newnewsletter","tag-oil","tag-sd","tag-silver","tag-tsx"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/247877","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=247877"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/247877\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/247878"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=247877"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=247877"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=247877"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}