Equities<\/p>\n
Global markets traded near record highs ahead of a widely anticipated U.S. Federal Reserve rate cut<\/a> later today as well as the Bank of Canada\u2019s policy announcement<\/a> this morning.<\/p>\n Wall Street futures were little changed, while TSX futures pointed lower after major North American markets closed down yesterday.<\/p>\n On Wall Street, markets are watching earnings from General Mills Inc.<\/p>\n \u201cA rate cut is fully priced in. There were some questions around a 50 bps cut given the doves on the board but I think that\u2019s less likely,\u201d said Nina Stanojevic, senior investment specialist at St. James\u2019s Place.<\/p>\n \u201cWhat will be interesting is the narrative that comes out of the meeting and where the trajectory of rates is going to be.\u201d<\/p>\n Overseas, the pan-European STOXX 600 was up 0.07 per cent in morning trading. Britain\u2019s FTSE 100 gained 0.18 per cent, Germany\u2019s DAX advanced 0.1 per cent and France\u2019s CAC 40 gave back 0.09 per cent. <\/p>\n In Asia, Japan\u2019s Nikkei closed 0.25 per cent lower, while Hong Kong\u2019s Hang Seng rose 1.75 per cent to a four-year high on AI optimism and hopes of a U.S. TikTok deal. <\/p>\n Commodities<\/p>\n \u00a0Oil prices eased after rising more than 1 per cent yesterday due to concerns that Russian supplies may be disrupted by Ukrainian attacks.<\/p>\n Brent crude futures were down 0.6 per cent to US$68.06 a barrel. West Texas Intermediate (WTI) crude futures declined 0.6 per cent to US$64.14 a barrel.<\/p>\n \u201cIf the drone damage (to Russian energy infrastructure) proves to be short-lived, the recent range … will resume,\u201d said PVM Oil Associates analyst John Evans.<\/p>\n \u201cGiven the impasse in sanctions and the arrival of more OPEC barrels, the only hope for an oil rally has been through the lack of distillate stock as we approach winter.\u201d<\/p>\n In other commodities, spot gold\u00a0fell 0.7 per cent to US$3,671.61 an ounce after hitting a record high of US$3,702.95 yesterday. U.S. gold futures for December delivery fell 0.4 per cent to US$3,709.<\/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 72.65 US cents to 72.80 US cents in early trading. The Canadian dollar was up about 0.84 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, rose 0.15 per cent to 96.78. <\/p>\n The euro fell 0.22 per cent to US$1.1843. The British pound climbed 0.03 per cent to US$1.3649.\t<\/p>\n In bonds, the yield on the U.S. 10-year note was last down at 4.019 per cent.<\/p>\n Economic news<\/p>\n Japan trade deficit<\/p>\n Euro zone CPI<\/p>\n (8:30 a.m. ET) Canada\u2019s international securities transactions for July.<\/p>\n (8:30 a.m. ET) U.S. housing starts for August. The Street is projecting an annualized rate decline of 4.4 per cent.<\/p>\n (8:30 a.m. ET) U.S. building permits for August. Consensus is an annualized rate increase of 0.6 per cent.<\/p>\n (9:45 a.m. ET) Bank of Canada policy announcement with press conference to follow.<\/p>\n (2 p.m. ET) U.S. Fed announcement and summary of economic projections with press briefing to follow.<\/p>\n With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global markets traded near record highs ahead of a widely anticipated U.S. Federal Reserve rate cut later…\n","protected":false},"author":2,"featured_media":21721,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[1577,114,5840,3151,5837,5838,1247,85,46,5841,190,2378,3507,5839,5836,2796,5835],"class_list":{"0":"post-21720","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-canadian-dollar","11":"tag-dow-jones","12":"tag-equities","13":"tag-futures","14":"tag-gold","15":"tag-il","16":"tag-israel","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\/il\/wp-json\/wp\/v2\/posts\/21720","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=21720"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/21720\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/21721"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=21720"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=21720"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=21720"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}