Futures for Japanese and Australian shares pointed to marginal declines while contracts for Hong Kong rose slightly and a gauge of US-listed Chinese companies was little changed.
The gains in crude sent energy shares higher and added to concern about inflationary pressures. Oil reached a 10-month high as production cuts by leaders of the OPEC+ contribute to projections for the tightest crude in a decade in the months ahead. With the US economy defying pessimism and energy prices rising, Wednesday’s consumer-price index is expected to show a pick-up in inflation pressures. Swap traders are currently betting the Fed will stay on hold at a policy meeting next week, and see roughly a 50% chance that it delivers a hike in November.
CPI is key because if it halts its downward trend, markets will have to price in a more hawkish Fed — and that would be a headwind on stocks, said Tom Essaye, a former Merrill Lynch trader who founded The Sevens Report newsletter.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Fortunes for Mega- and Small-Cap Stocks Poised to Flip, Bank of America SaysThe wind is about to shift for the US stock market, if history is any guide, says Bank of America Corp.
Source: BNNBloomberg - 🏆 83. / 50 Read more »
Investors drawn to oil and gas, mining stocks, TSX top 30 list showsThe 2023 TSX 30 list is heavily dominated by the oil and gas sector, which make up 50 per cent of the list. Find out more.
Source: fpinvesting - 🏆 43. / 63 Read more »
Investors drawn to oil and gas, mining stocks, TSX top 30 list showsThe 2023 TSX 30 list is heavily dominated by the oil and gas sector, which make up 50 per cent of the list. Find out more.
Source: financialpost - 🏆 7. / 85 Read more »
Energy stocks help boost S&P/TSX composite as price of oil moves higherTORONTO — Strength in energy stocks as the price of oil moved higher helped boost Canada's main stock index, while U.S. stock markets were mixed in late-morning trading. The S&P/TSX composite index was up 11.22 points at 20,193.98.
Source: SooToday - 🏆 8. / 85 Read more »
Energy stocks help boost S&P/TSX composite as price of oil moves higherTORONTO — Strength in energy stocks as the price of oil moved higher helped boost Canada's main stock index, while U.S. stock markets were mixed in late-morning trading. The S&P/TSX composite index was up 11.22 points at 20,193.98. In New York, the Dow Jones industrial average was up 10.05 points at 34,673.77. The S&P 500 index was down 18.28 points at 4,469.18, while the Nasdaq composite was down 110.99 points at 13,806.91. The Canadian dollar traded for 73.82 cents US compared with 73.63 cents
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
Growth stocks ‘highly overvalued’ but energy looks attractive, says strategistInvestors are rotating into energy stocks as oil prices hit 2023 highs.
Source: YahooFinanceCA - 🏆 47. / 63 Read more »