Equities<\/p>\n
Global markets were mixed as investors awaited a crucial earnings season for the AI sector.<\/p>\n
Wall Street futures were in positive territory as traders returned from the holiday long weekend.<\/p>\n
TSX futures followed sentiment higher.<\/p>\n
Investors will be watching closely for how artificial intelligence-related companies are faring amid some fears about a bubble in the upcoming earnings season.<\/p>\n
\u201cThe upcoming earnings season should be a test for the AI theme and likely shape the market performance over the coming months,\u201d said Mohit Kumar, an economist at Jefferies.<\/p>\n
\u201cThere have been concerns about excess capacity and whether AI capex can deliver the expected returns. We are optimistic on the earning season. Capex remains strong and as long as money continues to flow, AI related sectors should remain well-supported.\u201d<\/p>\n
Overseas, the pan-European STOXX 600 was down 0.21 per cent in morning trading. Britain\u2019s FTSE 100 slipped 0.14 per cent, Germany\u2019s DAX gained 0.26 per cent and France\u2019s CAC 40 advanced 0.21 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei closed little changed, while Hong Kong\u2019s Hang Seng rose 1.14 per cent.<\/p>\n
Commodities<\/p>\n
Oil prices fell after OPEC+ agreed to further increase its output targets from August while exports from key producers via the Strait of Hormuz are recovering, potentially adding to global supplies.<\/p>\n
Brent crude futures dropped 0.47 per cent to US$71.76 a barrel. West Texas Intermediate (WTI) crude traded at US$68.40 a barrel, down 0.42 per cent.<\/p>\n
\u201cThey are selling into a falling market, offering little hope of an imminent price recovery,\u201d PVM analysts said in a note. \u201cHowever, lower oil prices will undoubtedly stimulate demand further down the line.\u201d<\/p>\n
In other commodities, spot gold was down 0.6 per cent to $4,148.73 an ounce. U.S. gold futures for August delivery climbed 0.8 per cent to US$4,160.40 per ounce.<\/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 70.25 US cents to 70.47 US cents in early trading. The Canadian dollar was down about 1.9 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, gained 0.28 per cent to 101.14. The dollar was pegged at $1.4221. <\/p>\n
The euro slid 0.16 per cent to US$1.1418. The British pound declined 0.07 per cent to US$1.3341. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last down at 4.462 per cent. <\/p>\n
Economic news<\/p>\n
China\u2019s foreign reserves<\/p>\n
Euro zone\u2019s retail sales<\/p>\n
Germany\u2019s factory orders<\/p>\n
9:30 a.m. ET: Canada\u2019s S&P Global Services PMI for June.<\/p>\n
9:45 a.m. ET: U.S. S&P Global Services\/Composite PMI for June.<\/p>\n
10 a.m. ET: U.S. ISM Services PMI for June.<\/p>\n
11:30 a.m. ET: Bank of Canada\u2019s Business Outlook Survey and Survey of Consumer Expectations for the second quarter is released.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global markets were mixed as investors awaited a crucial earnings season for the AI sector. Wall Street…\n","protected":false},"author":2,"featured_media":783625,"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-783624","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\/783624","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=783624"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/783624\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/783625"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=783624"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=783624"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=783624"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}