Equities<\/p>\n
Global shares edged higher as robust U.S. economic data and corporate earnings this week tempered tariff concerns for now.<\/p>\n
Wall Street futures were in positive territory after North American markets closed higher yesterday.<\/p>\n
TSX futures followed sentiment higher after Canada\u2019s main stock market reached a new record high yesterday.<\/p>\n
On Wall Street, markets are watching earnings from American Express Co., Charles Schwab Corp. and 3M Co.<\/p>\n
A solid start to earnings season in the U.S. \u2013 with companies including streaming giant Netflix beating forecasts \u2013 was also supporting investor confidence, said Eren Osman, managing director of wealth management at Arbuthnot Latham.<\/p>\n
\u201cWe\u2019re pretty constructive on the [U.S.] macro backdrop … We do see some scope for slowing growth, but not for anything material and that\u2019s giving the markets quite a nice bounce,\u201d Osman said, adding the potential full impact of U.S. tariffs was still in focus.<\/p>\n
Alphabet and Tesla are among the companies reporting half-year results next week, which will further test the market mood.<\/p>\n
Overseas, the pan-European STOXX 600 was up 0.4 per cent in morning trading. Britain\u2019s FTSE 100 rose 0.28 per cent, Germany\u2019s DAX gained 0.39 per cent and France\u2019s CAC 40 advanced 0.61 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei closed 0.21 per cent lower, while Hong Kong\u2019s Hang Seng gained 1.33 per cent. <\/p>\n
Commodities<\/p>\n
Oil prices rose after the European Union agreed to new sanctions against Russia, also underpinned by supply concerns following drone attacks on northern Iraqi oilfields and tight market fundamentals. <\/p>\n
The EU reached an agreement on an 18th sanctions package against Russia over its war in Ukraine, with measures aimed at dealing further blows to Russia\u2019s oil and energy industries.<\/p>\n
Brent crude futures climbed 0.89 per cent to US$70.14 a barrel. West Texas Intermediate (WTI) crude futures advanced 0.95 per cent to US$68.18 a barrel.<\/p>\n
\u201cCrude prices have been broadly stable this week, with no significant moves as the impact of OPEC+ supply increases has been offset by strong seasonal demand in the U.S.,\u201d said LSEG analyst Anh Pham.<\/p>\n
In other commodities, spot gold was up 0.3 per cent to US$3,349.49 an ounce. U.S. gold futures climbed 0.3 per cent to US$3,354.70. <\/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 72.69 US cents to 72.87 US cents in early trading. The Canadian dollar was up about 0.08 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, dropped 0.41 per cent to 98.33. <\/p>\n
The euro rose 0.38 per cent to US$1.1638. The British pound gained 0.14 per cent to US$1.3437. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last down at 4.466 per cent.<\/p>\n
Economic news<\/p>\n
Japan inflation data<\/p>\n
8:30 am ET: Canada construction investment for May<\/p>\n
8:30 am ET: Canada household and mortgage credit<\/p>\n
8:30 am ET: U.S. housing starts and building permits for June.<\/p>\n
10 am ET: U.S. University of Michigan consumer sentiment. Consensus is for a reading of 61.5, up from June\u2019s 60.7.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global shares edged higher as robust U.S. economic data and corporate earnings this week tempered tariff concerns…\n","protected":false},"author":2,"featured_media":5089,"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-5088","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\/5088","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=5088"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/5088\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/5089"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=5088"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=5088"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=5088"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}