Equities<\/p>\n
Markets were muted as investors wagered the U.S. Federal Reserve will resume cutting interest rates next month and a blistering rally in global stocks took a breather.<\/p>\n
Wall Street futures were little changed after the Nasdaq and S&P 500 reached new highs yesterday.<\/p>\n
TSX futures were flat after another record close for Canada\u2019s main stock index yesterday.<\/p>\n
In Canada, investors are getting results from First Majestic Silver Corp.<\/p>\n
On Wall Street, markets are watching earnings from Applied Minerals Inc. and Deere & Co.<\/p>\n
\u201cA [Fed] rate cut in September seems likely given the recent job market revisions,\u201d said Ben Bennett, APAC investment strategist at Legal and General Investment Management.<\/p>\n
\u201cBut inflation data remains sticky, and there\u2019s no sign of a serious economic downturn, so the Fed will probably want to keep their options open for the rest of the year,\u201d he said.<\/p>\n
Overseas, the pan-European STOXX 600 was up 0.22 per cent in morning trading. Britain\u2019s FTSE 100 eased 0.04 per cent, Germany\u2019s DAX rose 0.22 per cent and France\u2019s CAC 40 advanced 0.28 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei closed 1.45 per cent lower, while Hong Kong\u2019s Hang Seng lost 0.37 per cent. <\/p>\n
Commodities<\/p>\n
Oil prices climbed as investors weighed what impact the U.S.-Russia summit on Ukraine tomorrow might have on Russian crude flows, with secondary sanctions looming over Moscow\u2019s customers, while a rising supply outlook capped gains.<\/p>\n
Brent crude futures rose 0.7 per cent to US$66.08 a barrel. West Texas Intermediate (WTI) crude futures gained 0.7 per cent to US$63.09.<\/p>\n
\u201cThe uncertainty of U.S.-Russia peace talks continues to add a bullish risk premium given Russian oil buyers could face more economic pressure,\u201d Rystad Energy said in a client note.<\/p>\n
In other commodities, spot gold fell 0.3 per cent to US$3,346.19 an ounce. U.S. gold futures for December delivery lost 0.4 per cent to US$3,393.80.<\/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 72.55 US cents to 72.76 US cents in early trading. The Canadian dollar was down about 0.16 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, climbed 0.03 per cent to 97.87. <\/p>\n
The euro declined 0.17 per cent to US$1.1686. The British pound gained 0.04 per cent to US$1.3580. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last down at 4.218 per cent. <\/p>\n
Economic news<\/p>\n
Euro zone GDP and industrial production<\/p>\n
(8:30 a.m. ET) U.S. initial jobless claims for week of Aug. 9. Estimate is 229,000, up 3,000 from the previous week.<\/p>\n
(8:30 a.m. ET) U.S. PPI Final Demand for July. The Street is projecting a month-over-month gain of 0.2 per cent and a 2.6-per-cent rise year-over-year.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Markets were muted as investors wagered the U.S. Federal Reserve will resume cutting interest rates next month…\n","protected":false},"author":2,"featured_media":68766,"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-68765","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\/68765","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=68765"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/68765\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/68766"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=68765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=68765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=68765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}