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The Market Online
2 days ago
- Business
- The Market Online
Canada GDP Data mutes TSX Futures
Futures tied to Canada's main stock index hovered near the flatline Friday, as investors took a cautious stance ahead of GDP data and digested commodity sector dips. Market Numbers (Futures) TSX :Up ( 0.07%) 26,192.21TSXV: Down (0.79%) 696.88DOW: Down (0.35%) 42,118.00NASDAQ: Down (042%) 21,309.75 FTSE: Up (0.39%) 8,750.87 In the Headlines: Canada's economy posted a stronger-than-expected 0.5% gain in Q1, powered by a burst in exports as U.S. buyers rushed to beat looming tariffs from President Donald Trump. And, RioCan REIT has filed a court application to place its joint venture with Hudson's Bay into receivership, seeking to protect stakeholder interests and maximize value after the retailer's creditor protection filing. Currencies Update: (Futures) The Canadian dollar is in the green this morning, up 0.07% to $0.7252 U.S., up by 0.28% to $0.6401 against the Euro, and Bitcoin gives back 2.64% to $145,987.72 Commodities: (Futures) Natural Gas: Down (1.12%), 3.48WTI: Down (0.91%), 60.38Gold: Down (0.43%), 3,302,8557 Copper: Down (0.20%) 6.03 To stay up-to-date on all of your market news head to Join the discussion: Find out what everybody's saying check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
Yahoo
2 days ago
- Business
- Yahoo
FTSE 100 LIVE: European stocks rise despite appeals court temporarily reinstating Trump tariffs
The FTSE 100 (^FTSE) and European markets were higher on Friday, despite stocks in Asia slipping overnight on news that Donald Trump's tariffs have been temporarily reinstated. On Wednesday night, the US Court of International Trade blocked most of the president's sweeping trade levies, however, an appeals court has agreed to a pause in the decision. In its appeal on Thursday, the Trump administration said the decision issued by the trade court a day earlier had improperly second-guessed the president and threatened to unravel months of hard-fought trade negotiations. "The political branches, not courts, make foreign policy and chart economic policy," it said in the filing. The US Court of Appeals for the Federal Circuit, which oversees the International Trade Court, granted the Trump administration's request for a temporary administrative stay. The administration must submit its briefings by 9 June, after which the court will determine the next steps. The US dollar has been unsteady on the back of the news, and is now heading for its fifth consecutive monthly decline as investors brace for more uncertainty around trade. London's benchmark index (^FTSE) was 0.6% higher in early trade Germany's DAX (^GDAXI) rose 0.5% and the CAC (^FCHI) in Paris headed 0.1% into the green The pan-European STOXX 600 (^STOXX) was up 0.4% Wall Street is set for a muted start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in marginally in the red. The pound was 0.1% down against the US dollar (GBPUSD=X) at 1.3477 Follow along for live updates throughout the day: The Federal Reserve said that Jerome Powell met with Donald Trump Thursday "at the president's invitation," and the White House said the president told the central bank boss that he is making a mistake by not lowering rates. The face-to-face encounter follows months of Powell criticism from Trump and pressure on the Fed to ease monetary policy. The Fed said in a statement that Powell met with the president to discuss "economic developments including for growth, employment, and inflation." Powell, according to the Fed, "did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook." The chair said he and his colleagues on the Fed's rate-setting committee will make decisions about monetary policy "based solely on careful, objective, and non-political analysis," the Fed added in its statement. The White House confirmed the Powell meeting, with press secretary Karoline Leavitt telling reporters that the Fed's summary was correct but noting that the president pushed Powell to lower rates. "The president did say that he believes the Fed chair is making a mistake by not lowering interest rates, which is putting us at an economic disadvantage to China and other countries," she said, adding Trump has been very vocal about his views publicly as well. Stocks in Asia were lower overnight as an appeals court has agreed to a temporary pause in the decision. The Nikkei (^N225) fell 1.2% on the day in Japan, while the Hang Seng (^HSI) fell 1.4% in Hong Kong. The Shanghai Composite ( was 0.5% down by the end of the session following comments by Treasury Secretary Bessent that trade talks with China are 'a bit stalled'. In terms of local economic data releases, there was the Tokyo CPI for May in Japan overnight, which beat Bloomberg consensus on both the core measure (3.6% versus 3.5% expected) as well as core-core (3.3% vs 3.2%). April retail sales and industrial production for the economy also beat. The dollar is down 0.27% against the yen this morning and UST yields are up 0.4bps on the 2-year and are flat on the 10-year. The Japanese 10-year yield is down 1.5bps. Across the pond, the S&P 500 (^GSPC) ended 0.4% higher on the day, and the tech-heavy Nasdaq (^IXIC) was up 0.4%. The Dow Jones (^DJI) also gained 0.3%. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases including the May CPI releases from Germany and Italy, along with US PCE inflation for April, the University of Michigan's final consumer sentiment index for May, and Canada's Q1 GDP. Otherwise from central banks, we'll hear from the Fed's Daly and Goolsbee, and the ECB's Muller, Panetta and Vujcic. Here's a snapshot of what's on the agenda: 7am: Nationwide House Price Index 1pm: German inflation data 1:30pm: US PCE (Inflation measure) 1:30pm: US Personal Spending, Personal Income 3pm: University of Michigan's consumer sentiment surveyThe Federal Reserve said that Jerome Powell met with Donald Trump Thursday "at the president's invitation," and the White House said the president told the central bank boss that he is making a mistake by not lowering rates. The face-to-face encounter follows months of Powell criticism from Trump and pressure on the Fed to ease monetary policy. The Fed said in a statement that Powell met with the president to discuss "economic developments including for growth, employment, and inflation." Powell, according to the Fed, "did not discuss his expectations for monetary policy, except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook." The chair said he and his colleagues on the Fed's rate-setting committee will make decisions about monetary policy "based solely on careful, objective, and non-political analysis," the Fed added in its statement. The White House confirmed the Powell meeting, with press secretary Karoline Leavitt telling reporters that the Fed's summary was correct but noting that the president pushed Powell to lower rates. "The president did say that he believes the Fed chair is making a mistake by not lowering interest rates, which is putting us at an economic disadvantage to China and other countries," she said, adding Trump has been very vocal about his views publicly as well. Stocks in Asia were lower overnight as an appeals court has agreed to a temporary pause in the decision. The Nikkei (^N225) fell 1.2% on the day in Japan, while the Hang Seng (^HSI) fell 1.4% in Hong Kong. The Shanghai Composite ( was 0.5% down by the end of the session following comments by Treasury Secretary Bessent that trade talks with China are 'a bit stalled'. In terms of local economic data releases, there was the Tokyo CPI for May in Japan overnight, which beat Bloomberg consensus on both the core measure (3.6% versus 3.5% expected) as well as core-core (3.3% vs 3.2%). April retail sales and industrial production for the economy also beat. The dollar is down 0.27% against the yen this morning and UST yields are up 0.4bps on the 2-year and are flat on the 10-year. The Japanese 10-year yield is down 1.5bps. Across the pond, the S&P 500 (^GSPC) ended 0.4% higher on the day, and the tech-heavy Nasdaq (^IXIC) was up 0.4%. The Dow Jones (^DJI) also gained 0.3%. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases including the May CPI releases from Germany and Italy, along with US PCE inflation for April, the University of Michigan's final consumer sentiment index for May, and Canada's Q1 GDP. Otherwise from central banks, we'll hear from the Fed's Daly and Goolsbee, and the ECB's Muller, Panetta and Vujcic. Here's a snapshot of what's on the agenda: 7am: Nationwide House Price Index 1pm: German inflation data 1:30pm: US PCE (Inflation measure) 1:30pm: US Personal Spending, Personal Income 3pm: University of Michigan's consumer sentiment survey
Yahoo
2 days ago
- Business
- Yahoo
FTSE 100 LIVE: European stocks rise despite appeals court temporarily reinstating Trump tariffs
The FTSE 100 (^FTSE) and European markets were higher on Friday, despite stocks in Asia slipping overnight on news that Donald Trump's tariffs have been temporarily reinstated. On Wednesday night, the US Court of International Trade blocked most of the president's sweeping trade levies, however, an appeals court has agreed to a pause in the decision. In its appeal on Thursday, the Trump administration said the decision issued by the trade court a day earlier had improperly second-guessed the president and threatened to unravel months of hard-fought trade negotiations. "The political branches, not courts, make foreign policy and chart economic policy," it said in the filing. The US Court of Appeals for the Federal Circuit, which oversees the International Trade Court, granted the Trump administration's request for a temporary administrative stay. The administration must submit its briefings by 9 June, after which the court will determine the next steps. The US dollar has been unsteady on the back of the news, and is now heading for its fifth consecutive monthly decline as investors brace for more uncertainty around trade. London's benchmark index (^FTSE) was 0.6% higher in early trade Germany's DAX (^GDAXI) rose 0.5% and the CAC (^FCHI) in Paris headed 0.1% into the green The pan-European STOXX 600 (^STOXX) was up 0.4% Wall Street is set for a muted start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in marginally in the red. The pound was 0.1% down against the US dollar (GBPUSD=X) at 1.3477 Follow along for live updates throughout the day: Stocks in Asia were lower overnight as an appeals court has agreed to a temporary pause in the decision. The Nikkei (^N225) fell 1.2% on the day in Japan, while the Hang Seng (^HSI) fell 1.4% in Hong Kong. The Shanghai Composite ( was 0.5% down by the end of the session following comments by Treasury Secretary Bessent that trade talks with China are 'a bit stalled'. In terms of local economic data releases, there was the Tokyo CPI for May in Japan overnight, which beat Bloomberg consensus on both the core measure (3.6% versus 3.5% expected) as well as core-core (3.3% vs 3.2%). April retail sales and industrial production for the economy also beat. The dollar is down 0.27% against the yen this morning and UST yields are up 0.4bps on the 2-year and are flat on the 10-year. The Japanese 10-year yield is down 1.5bps. Across the pond, the S&P 500 (^GSPC) ended 0.4% higher on the day, and the tech-heavy Nasdaq (^IXIC) was up 0.4%. The Dow Jones (^DJI) also gained 0.3%. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases including the May CPI releases from Germany and Italy, along with US PCE inflation for April, the University of Michigan's final consumer sentiment index for May, and Canada's Q1 GDP. Otherwise from central banks, we'll hear from the Fed's Daly and Goolsbee, and the ECB's Muller, Panetta and Vujcic. Here's a snapshot of what's on the agenda: 7am: Nationwide House Price Index 1pm: German inflation data 1:30pm: US PCE (Inflation measure) 1:30pm: US Personal Spending, Personal Income 3pm: University of Michigan's consumer sentiment surveyStocks in Asia were lower overnight as an appeals court has agreed to a temporary pause in the decision. The Nikkei (^N225) fell 1.2% on the day in Japan, while the Hang Seng (^HSI) fell 1.4% in Hong Kong. The Shanghai Composite ( was 0.5% down by the end of the session following comments by Treasury Secretary Bessent that trade talks with China are 'a bit stalled'. In terms of local economic data releases, there was the Tokyo CPI for May in Japan overnight, which beat Bloomberg consensus on both the core measure (3.6% versus 3.5% expected) as well as core-core (3.3% vs 3.2%). April retail sales and industrial production for the economy also beat. The dollar is down 0.27% against the yen this morning and UST yields are up 0.4bps on the 2-year and are flat on the 10-year. The Japanese 10-year yield is down 1.5bps. Across the pond, the S&P 500 (^GSPC) ended 0.4% higher on the day, and the tech-heavy Nasdaq (^IXIC) was up 0.4%. The Dow Jones (^DJI) also gained 0.3%. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets and happening across the global economy. To the day ahead we have data releases including the May CPI releases from Germany and Italy, along with US PCE inflation for April, the University of Michigan's final consumer sentiment index for May, and Canada's Q1 GDP. Otherwise from central banks, we'll hear from the Fed's Daly and Goolsbee, and the ECB's Muller, Panetta and Vujcic. Here's a snapshot of what's on the agenda: 7am: Nationwide House Price Index 1pm: German inflation data 1:30pm: US PCE (Inflation measure) 1:30pm: US Personal Spending, Personal Income 3pm: University of Michigan's consumer sentiment survey Sign in to access your portfolio
The Market Online
3 days ago
- Business
- The Market Online
Market Open: Strong Bank Earnings Boost TSX
Futures tracking Canada's main stock index climbed Thursday, lifted by a U.S. court decision blocking Trump-era tariffs and a strong showing from the country's big banks. Market Numbers (Futures) TSX :Up ( 0.30%) 26,362.30 TSXV: Down (0.07%) 702.40 DOW: Up (0.20%) 42,258.00 NASDAQ: Up (1.25%) 21,644.75 FTSE: Up (0.8%) 8,733.79 In the Headlines Ontario will revise its mining bill to include Indigenous economic zones following backlash from First Nations. The province is responding to mounting legal and political pressure. And,Wall Street and financial markets around the world jumped after a U.S. court ruled that President Donald Trump is not authorized to impose sweeping tariffs on imports under an emergency-powers law. Currencies Update: (Futures) The Canadian dollar rises 0.17% to $0.7249 U.S., tipping up by 0.13% to $0.6414 to the Euro, and Bitcoin leaves behind 0.28% to $150,154.02 Commodities: (Futures) Natural Gas: Up (10.11%), 3.52 WTI: Up (.12%), 61.91 Gold: Up (0.74%), 3,313.53 Copper: Up (0.39%) 6.06 To stay up-to-date on all of your market news head to Join the discussion: Find out what everybody's saying check out the rest of Stockhouse's stock forums and message boards. The material provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here
Yahoo
3 days ago
- Business
- Yahoo
FTSE 100 LIVE: Stocks rise as US court ruling blocks Trump tariffs
The FTSE 100 (^FTSE) and European stocks were higher on Thursday as the US Court of International Trade ruled that the Trump administration did not have authority to impose most of the tariffs that have been announced. A three-judge panel argued that the US president has exceeded his authority, left US trade policy dependent on his whims and unleashed economic chaos. "The worldwide and retaliatory tariff orders exceed any authority granted to the president by IEEPA to regulate importation by means of tariffs," the court said. "…The court does not pass upon the wisdom or likely effectiveness of the president's use of tariffs as leverage. That use is impermissible not because it is unwise or ineffective, but because [federal law] does not allow it." It gave the administration 10 days in order to 'effectuate' the judgement, but a White House spokesperson told Reuters that it was 'not for elected judges to decide how to properly address a national emergency'. Stocks: Create your watchlist and portfolio Prashant Newnaha, senior Asia-Pacific rates strategist, at TD Securities, said: "The knee-jerk reaction for equities to rally and bond yields to back up on the tariff pause makes sense. "However, with tariffs now in the appeal process and likely heading to the Supreme Court, uncertainty is back. Expect to see this lead to delays in investment and hiring. The pause also puts tariff revenue at risk which could bring deficit issues back on the radar." London's benchmark index (^FTSE) was 0.1% higher in early trade. Germany's DAX (^GDAXI) rose 0.7% and the CAC (^FCHI) in Paris headed 1% into the green. The pan-European STOXX 600 (^STOXX) was up 0.5%. Wall Street is set for a positive start as S&P 500 futures (ES=F), Dow futures (YM=F) and Nasdaq futures (NQ=F) were all in the green. The pound was flat against the US dollar (GBPUSD=X) at 1.3466. Follow along for live updates throughout the day: Stocks in Asia were higher overnight as the US Court of International Trade ruled that the Trump administration did not have the authority to impose most of the tariffs that have been announced. It said the administration had exceeded their legal authority, and that the International Emergency Economic Powers Act (IEEPA) 'does not authorize the President to impose unbounded tariffs.' The court gave the administration 10 days in order to 'effectuate' the judgement — the ruling covers the 10% baseline tariffs, the 25% tariffs on Canadian and Mexican products, the extra 20% on China, as well as all the reciprocal tariffs that have been paused until 9 July. However, there are a few exceptions not covered by the ruling, including the tariffs on steel, aluminium and automobiles. The Nikkei (^N225) rose 1.9% on the day in Japan, while the Hang Seng (^HSI) gained 1.4% in Hong Kong. The Shanghai Composite ( was 0.7% up by the end of the session. The Kospi (^KS11) was also up 1.9% after the Bank of Korea delivered a 25bp rate cut overnight, in line with expectations, taking the policy rate down to 2.5%. They also cut their growth forecast for this year to 0.8%. Across the pond on Wall Street, the S&P 500 (^GSPC) slipped 0.6%, falling back after the previous day's 2.05% surge, and the tech-heavy Nasdaq (^IXIC) was 0.5% down. The Dow Jones (^DJI) fell 0.6%. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets, and happening across the global economy. Coming up today we have US data releases which include the weekly initial jobless claims, the second estimate of Q1 GDP, and pending home sales for April. Otherwise, Central bank speakers include the Fed's Barkin, Goolsbee, Kugler, Daly and Logan, along with BoE Governor Bailey. Here's a snaphot of what's on the agenda: 7am: Trading updates: Nationwide, Helios Underwriting, Braemar, Hollywood Bowl, AutoTrader 9:30am: ONS estimates of inflation for different household types 1:30pm: Second reading of US GDP 1:30pm: US weekly jobless claimsStocks in Asia were higher overnight as the US Court of International Trade ruled that the Trump administration did not have the authority to impose most of the tariffs that have been announced. It said the administration had exceeded their legal authority, and that the International Emergency Economic Powers Act (IEEPA) 'does not authorize the President to impose unbounded tariffs.' The court gave the administration 10 days in order to 'effectuate' the judgement — the ruling covers the 10% baseline tariffs, the 25% tariffs on Canadian and Mexican products, the extra 20% on China, as well as all the reciprocal tariffs that have been paused until 9 July. However, there are a few exceptions not covered by the ruling, including the tariffs on steel, aluminium and automobiles. The Nikkei (^N225) rose 1.9% on the day in Japan, while the Hang Seng (^HSI) gained 1.4% in Hong Kong. The Shanghai Composite ( was 0.7% up by the end of the session. The Kospi (^KS11) was also up 1.9% after the Bank of Korea delivered a 25bp rate cut overnight, in line with expectations, taking the policy rate down to 2.5%. They also cut their growth forecast for this year to 0.8%. Across the pond on Wall Street, the S&P 500 (^GSPC) slipped 0.6%, falling back after the previous day's 2.05% surge, and the tech-heavy Nasdaq (^IXIC) was 0.5% down. The Dow Jones (^DJI) fell 0.6%. Good morning, and welcome back to our markets live blog. As usual we will be taking a deep dive into what's moving markets, and happening across the global economy. Coming up today we have US data releases which include the weekly initial jobless claims, the second estimate of Q1 GDP, and pending home sales for April. Otherwise, Central bank speakers include the Fed's Barkin, Goolsbee, Kugler, Daly and Logan, along with BoE Governor Bailey. Here's a snaphot of what's on the agenda: 7am: Trading updates: Nationwide, Helios Underwriting, Braemar, Hollywood Bowl, AutoTrader 9:30am: ONS estimates of inflation for different household types 1:30pm: Second reading of US GDP 1:30pm: US weekly jobless claims Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
