Equities<\/p>\n
Global markets took a breather ahead of a raft of appearances from Federal Reserve officials that traders hope will offer greater clarity on how far and fast U.S. interest rates will drop.<\/p>\n
Wall Street futures were mixed after major North American markets closed down yesterday amid valuation concerns. TSX futures pointed higher <\/p>\n
In Canada, investors are getting results from BlackBerry Ltd.<\/p>\n
On Wall Street, markets are watching earnings from Costco Wholesale Corp. and Accenture PLC.<\/p>\n
\u201cIt must be said that fresh catalysts were lacking across the board, with little by way of impactful news or data-flow to move the needle especially much,\u201d said Michael Brown, a senior research strategist at Pepperstone.<\/p>\n
Overseas, the pan-European STOXX 600 was down 0.43 per cent in morning trading. Britain\u2019s FTSE 100 declined 0.21 per cent, Germany\u2019s DAX dropped 0.54 per cent and France\u2019s CAC 40 fell 0.64 per cent.<\/p>\n
In Asia, Japan\u2019s Nikkei closed 0.27 per cent higher, while Hong Kong\u2019s Hang Seng slid 0.13 per cent.<\/p>\n
Commodities<\/p>\n
Oil prices edged lower as some investors took profits after U.S. stocks closed lower and in anticipation of slower winter demand as well as the return of Kurdish supplies.<\/p>\n
Brent futures were down 0.7 per cent to US$68.82 a barrel. West Texas Intermediate (WTI) futures were down 0.8 per cent to US$64.45 a barrel.<\/p>\n
Both benchmarks gained 2.5 per cent yesterday to reach a seven-week high, driven by a surprise drop in U.S. weekly crude inventories and concerns that Ukraine\u2019s attacks on Russia\u2019s energy infrastructure could disrupt supplies.<\/p>\n
\u201cWe have a generally risk-off market,\u201d said Giovanni Staunovo, commodity analyst at UBS. Two consecutive down days for U.S. stocks are putting pressure on oil prices, he added.<\/p>\n
In other commodities, spot gold was up 0.1 per cent at US$3,739.22 an ounce. U.S. gold futures for December delivery were steady at US$3,769.60.<\/p>\n
Currencies and bonds<\/p>\n
The Canadian dollar was little changed against its U.S. counterpart.<\/p>\n
The day range on the loonie was 71.92 US cents to 72.03 US cents in early trading. The Canadian dollar was down about 1.07 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, slipped 0.02 per cent to 97.85. <\/p>\n
The euro rose 0.03 per cent to US$1.1743. The British pound gained 0.04 per cent to US$1.3452. <\/p>\n
In bonds, the yield on the U.S. 10-year note was last down at 4.146 per cent.<\/p>\n
Economic news<\/p>\n
ECB\u2019s economic bulletin is released<\/p>\n
(8:30 a.m. ET) Canada\u2019s payroll survey on the job vacancy rate for July.<\/p>\n
(8:30 a.m. ET) U.S. initial jobless claims for week of Sept. 20. Estimate is 237,000, up 6,000 from the previous week.<\/p>\n
(8:30 a.m. ET) U.S. real GDP and price index for Q2. The consensus projections are annualized rate rises of 3.3 per cent and 2.0 per cent, respectively.<\/p>\n
(8:30 a.m. ET) U.S. goods trade deficit for August.<\/p>\n
(8:30 a.m. ET) U.S. wholesale and retail inventories for August.<\/p>\n
(8:30 a.m. ET) U.S. durable and core orders for August. The Street expects month-over-month drops of 0.5 per cent and 0.2 per cent, respectively.<\/p>\n
(10 a.m. ET) U.S. existing home sales for August. Estimate is an annualized rate decline of 1.2 per cent.<\/p>\n
With Reuters and The Canadian Press<\/p>\n","protected":false},"excerpt":{"rendered":"Equities Global markets took a breather ahead of a raft of appearances from Federal Reserve officials that traders…\n","protected":false},"author":2,"featured_media":42359,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[12],"tags":[910,138,37947,4234,779,21978,4241,37948,220,10992,111,11958,139,69,4156,37946,7457,37945],"class_list":["post-42358","post","type-post","status-publish","format-standard","has-post-thumbnail","category-markets","tag-bonds","tag-business","tag-canadian-dollar","tag-dow-jones","tag-equities","tag-futures","tag-gold","tag-loonie","tag-markets","tag-nasdaq","tag-new-zealand","tag-newnewsletter","tag-newzealand","tag-nz","tag-oil","tag-sd","tag-silver","tag-tsx"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/42358","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=42358"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/42358\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/42359"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=42358"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=42358"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=42358"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}