Bay Street Might Open Mixed

Bay Street Might Open Mixed

Bay Street Might Open Mixed

For the fourth quarter, the US GDP Price Index increased by 2.7 percent, compared to the previously reported 2.9 percent.

The Labor Department’s US Jobless claims were at 192,000, down from the previously expected level of 195,000.

The US dollar strengthened against its major counterparts in the European session.

The Federal Reserve’s February meeting minutes showed the interest rates might be on the higher side to curb the inflation target. The Fed continues to target maximum employment and inflation at around 2 percent.

The Canadian Climate Institute revealed on Thursday that carbon emission was at 691 megatonnes in 2021, higher than 672 megatonnes in the previous year. In 2019, it was up 738 megatonnes. Canada has been targeting a 40 percent cut in carbon emissions by 2030.

Canadian benchmark Index, S&P/TSX Composite Index finished on Wednesday at 20,193.33, down 59.31 points of 0.29 percent.

Metals futures are broadly down, with gold targeting a price of 1,833.1, down 0.46 percent and silver down 0.52 percent at 21.56.

Oil Futures are gaining 0.89% up at 74.6, Brent is adding 0.79% at 81.24. Natural Gas futures are sliding 3.17% at 2.105.

A winter storm has disrupted air travel across central and eastern Canada and 160 flights were delayed on Wednesday. WestJet, Jazz Aviation, and Air Canada expect to stretch out delays to today as well.

European shares are trading mostly higher. CAC 40 of France is gaining 30.35 points or 0.42%. DAX of Germany is adding 96.74 points or 0.53 percent. The FTSE 100 of England is declining 8.24 points or 0.10 percent. The Swiss Market Index is down 23.74 points or 0.21%.

Euro Stoxx 50 which provides a Blue-chip representation of supersector leaders in the Eurozone, is up 0.65 percent.

Asian stocks ended on a mixed note Thursday. Japanese markets were closed today. China’s Shanghai Composite index slipped 0.11 percent to 3,287.48.

Hong Kong’s Hang Seng index ended 0.35% lower at 20,351.35.

Australian markets closed lower for a third straight session. The benchmark S&P/ASX 200 index dropped 0.40 percent to 7,285.40 while the broader All Ordinaries index ended 0.33 percent lower at 7,492.50.

For comments and feedback contact: [email protected]

Business News