Equities<\/p>\n
Global markets turned lower as oil prices steadied, while a \u200bfresh wave of AI optimism lifted tech stocks globally.<\/p>\n
Wall Street futures pointed lower after the tech-heavy Nasdaq hit a fresh record high close yesterday.<\/p>\n
TSX futures were in the red after Canada\u2019s main stock market gained nearly 1 per cent yesterday.<\/p>\n
In Canada, investors are getting results from AGF Management Ltd.<\/p>\n
On Wall Street, markets are watching earnings from Cintas Corp., General Mills Inc. and Paychex Inc.<\/p>\n
\u201cFurther pullback in oil prices … gave support to equities, while the technology complex was also fuelled by Muse AI-led euphoria,\u201d Ipek Ozkardeskaya, senior analyst at Swissquote, wrote in a note. <\/p>\n
\u201cBanks, insurers and travel agencies felt the pinch, however \u2013 scared that Muse AI (and the likes) would disrupt businesses that have so far benefited from consumer inertia.\u201d <\/p>\n
Overseas, the pan-European STOXX 600 was down 0.3 per cent in morning trading. Britain\u2019s FTSE 100 slipped 0.04 per cent, Germany\u2019s DAX declined 0.57 per cent and France\u2019s CAC 40 gave back 0.29 per cent.<\/p>\n
In Asia, Japanese markets were closed for a holiday, while Hong Kong\u2019s Hang Seng closed 1.01 per cent lower. <\/p>\n
Commodities<\/p>\n
\u200bOil prices held near their lowest in more than two weeks, kept \u200bin check by improving Gulf crude supplies and \u200cgrowing hopes for a diplomatic resolution to the US-Israeli war on Iran.<\/p>\n
Brent crude futures rose 1.28 per cent to US$100.05 a barrel. West Texas Intermediate (WTI) futures climbed 0.64 per cent to US$91.10.<\/p>\n
While U.S. President Donald Trump warned yesterday that he could \u201cannihilate\u201d Iran, he also said his envoys had held productive talks with mediators of Iran to end the \u200bwar.<\/p>\n
\u201cTrump is trying to give off strong vibes \u200cof good talks … so that\u2019s possibly something driving down oil prices,\u201d said WisdomTree commodity strategist Nitesh Shah. \u201cBut I\u2019d caution that things could change quite abruptly back into positive price moves.\u201d<\/p>\n
In other commodities, spot gold dropped 0.9 per cent to US$4,316.59 an ounce. \u2060U.S. gold \u200bfutures for December delivery were down 0.5 per cent to US$4,353.30.<\/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 70.94 US cents to 71.14 US cents in early trading. The Canadian dollar was down about 1.53 per cent against the greenback over the past month. It traded at $1.4091 per US$1. <\/p>\n
The U.S. dollar index, which weighs the greenback against a group of currencies, gained 0.34 per cent to 100.95, its strongest level in two months. <\/p>\n
The euro fell 0.4 per cent to US$1.1405. The British pound fell 0.55 per cent to US$1.3270. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last up at 4.996 per cent.<\/p>\n
Economic news<\/p>\n
Euro zone and United Kingdom PMI<\/p>\n
8:30 a.m. ET: Canada\u2019s population estimates for Q2.<\/p>\n
9:45 a.m. ET: U.S. S&P Global PMIs for September.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global markets turned lower as oil prices steadied, while a \u200bfresh wave of AI optimism lifted tech…\n","protected":false},"author":2,"featured_media":906650,"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-906649","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\/906649","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=906649"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/906649\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/906650"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=906649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=906649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=906649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}