Wall Street\u2019s week ahead: Fed, big earnings week loom for markets as global tensions muddy outlook<\/a><\/p>\nOverseas, the pan-European STOXX 600 was down 0.24 per cent in morning trading. Britain\u2019s FTSE 100 edged up 0.02 per cent, Germany\u2019s DAX was flat and France\u2019s CAC 40 gave back 0.46 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei closed 0.29 per cent higher, while Hong Kong\u2019s Hang Seng rose 0.45 per cent. <\/p>\n
Commodities<\/p>\n
Oil prices rebounded from yesterday\u2019s decline after \u200bTrump renewed threats against major \u200dMiddle Eastern producer Iran, raising concerns of military action that could disrupt supplies.<\/p>\n
Brent crude futures for March rose 0.5 to US$64.35 \u200ba barrel. West Texas Intermediate (WTI) crude climbed 0.7 per cent to US$59.65 a barrel.<\/p>\n
Trump told reporters aboard \u2060Air Force One the U.S. has an \u201carmada\u201d heading toward Iran but hoped he would not have to use it, as he renewed warnings to Tehran against killing protesters or restarting its nuclear program.<\/p>\n
In other commodities, spot gold was up 0.21 per cent at US$4,923.80 an ounce after scaling a record US$4,967.03 earlier in \u200dthe session. U.S. gold futures for February delivery added 0.15 per cent to trade at US$4,920.50 an ounce.<\/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 72.45 US cents to 72.56 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, edged up 0.02 per cent to 98.38. <\/p>\n
The euro slid 0.2 per cent to US$1.1732. The British pound gained 0.17 per cent to US$1.3524. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last down at 4.242 per cent. <\/p>\n
Economic news<\/p>\n
The Bank of Japan earlier signalled its readiness to continue raising still-low borrowing costs against the backdrop of a politically charged atmosphere, with the country\u2019s snap election next month.<\/p>\n
\u201cThe BOJ has raised four of \u200cits six inflation projections and indicated \u200dthat further rate hikes are likely if these forecasts are realized,\u201d said David Chao, global market strategist for Asia-Pacific at Invesco in Singapore.<\/p>\n
Japan CPI and PMI<\/p>\n
Euro zone PMI: Business activity growth held steady this month as \u200ba weaker expansion in the dominant services \u200dindustry offset milder factory contraction, according to the survey, while price pressures picked up.<\/p>\n
(8:30 a.m. ET) Canadian retail sales for November. The Street is projecting a gain of 1.2 per cent from October.<\/p>\n
(8:30 a.m. ET) Canada\u2019s manufacturing sales for December.<\/p>\n
(9:45 a.m. ET) U.S. S&P Global PMIs for January.<\/p>\n
(10 a.m. ET) U.S. University of Michigan Consumer Sentiment Index.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global markets were mixed in choppy trading after a short-lived tariff threat relief rally as investors assessed…\n","protected":false},"author":2,"featured_media":427998,"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":["post-427997","post","type-post","status-publish","format-standard","has-post-thumbnail","category-canada","tag-bonds","tag-ca","tag-canada","tag-canadian-dollar","tag-dow-jones","tag-equities","tag-futures","tag-gold","tag-loonie","tag-nasdaq","tag-newnewsletter","tag-news","tag-oil","tag-sd","tag-silver","tag-tsx"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/427997","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=427997"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/427997\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/427998"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=427997"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=427997"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=427997"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}