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The Market Online
5 days ago
- Business
- The Market Online
A tentative start to North American trading
TSX futures inched higher on Thursday, with investors optimistic about Canadian oil output's ultimate recovery from Prairie wildfires and the country's ability to compete in a US tariff war. US markets are also up, finding the positive in Trump's deadline for trade deals of June 4th coming with no new announcements. Market Numbers (Futures) TSX: Up (0.2%) 26, Up (0.31%), Up (0.09%), 42, Up (0.05%), 21,759.25. FTSE: Up (0.03%), 8,815.26. Global gas producer Vermilion Energy (TSX:VET) sold its remaining United States assets for C$120 million, representing 5,500 boe/d of production and about 10 mmboe of proved, developed and producing reserves. The company will use the proceeds to pay off debt and will now focus its efforts on core Canadian and European operations. Another company restructuring to adapt to the uncertain macroeconomic climate, Procter & Gamble (NYSE:PG), plans to cut 7,000 jobs or 6 per cent of its workforce over the next two years – in addition to divesting from certain brands – in response to Trump tariff uncertainty and changing consumer demand. The US is Procter & Gamble's largest market, with its supply chain heavily reliant on imports from China. The Canadian dollar rose to US$0.7320, up from US$0.7296 on Wednesday, gave up ground to the Euro, falling from €0.6412 to €0.6406, and started the day at 0.5394 GBP and 104.8800 JPY. At the time of writing, Bitcoin was down by 0.02 per cent for the day trading at C$143,272.43. Commodities (Futures) Natural Gas: Down (0.05%), US$ Up (0.23%), US$ Up (0.53%), US$3,394.57. Copper: Up (0.07%), US$4.97. To stay up-to-date from market open to close head to Join the discussion: Find out what everybody's saying about the global market open on 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.
The Market Online
6 days ago
- Business
- The Market Online
Trade optimism lifts markets higher
TSX futures drifted slightly higher on Wednesday morning driven by a consensus hold on interest rates from the Bank of Canada, as well as optimism about potential U.S. trade deals, with president Trump and Chinese president Xi Jinping expected to speak later this week. Market Numbers (Futures) TSX: Up (0.3%), 26, Up (1.38%), Up (0.17%), 42, Up (0.23%), 21,738.75. FTSE: Up (0.07%), 8,800.72. U.S. President Trump raised import tariffs on steel and aluminum from 25 to 50 per cent, with eyes on increasing domestic manufacturing and strengthening national security. Canada accounts for approximately half of aluminum imports and a quarter of steel imports into the U.S. One company struggling under the weight of tariffs is toy maker Spin Master, which is reporting that it has cut jobs company-wide to lower costs. The company heavily relies on manufacturing in China, the bearer of the highest tariffs under Trump's regime, and intends to diversify its supply chain away from the communist country in the coming years. The Canadian dollar rose to US$0.7296, up from US$0.7277 on Tuesday, and continued to gain on the Euro, rising from C$0.6393 to C$0.6412. At the time of writing, Bitcoin was down by 0.16 per cent trading at C$144,360.42. Commodities (Futures) Natural Gas: Down (0.11%), US$ Up (0.13%), US$ Down (0.15%), US$3,372.10. Copper: Up (0.08%), US$4.83. To stay up-to-date on all of your market news head to Join the discussion: Find out what everybody's saying about the global market open on 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.
The Market Online
03-06-2025
- Business
- The Market Online
Market Open: Pre-market sets pessimistic tone
TSX futures gave up ground on Tuesday, tracking U.S. markets amid growing pessimism about the lasting effects of President Trump's global tariffs. Market Numbers (Futures) TSX: Down (0.5%), 26,248.10. TSXV: Up (1.87%), 707.41. DOW: Down (0.22%), 42,286. NASDAQ: Down (0.10%), 21,533.75. FTSE: Down (0.10%), 8,784.91. In the Headlines: Prime Minister Mark Carney's first meeting with his ministers on June 2nd in Saskatoon was followed by the release of the federal government's framework for fast-tracking strategic infrastructure projects. The government intends to offer two-year approvals for projects ranging from critical minerals to ports, pipelines and nuclear energy. As countries around the world continue to shift from globalization to protectionism driven by Trump tariffs, the Organisation for Economic Co-operation and Development lowered its growth outlook for the global economy to 2.9 per cent in 2025 and 2026, down from March estimates of 3.1 and 3 per cent, respectively. Currency Update (Futures) The Canadian dollar fell to US$0.7277, down from US$0.7280 on Monday, while it gained on the Euro, rising from C$0.6373 to C$0.6393. At the time of writing, Bitcoin has given back 0.33% to C$144,719.38. Commodities (Futures) Natural Gas: Down (1.44%), US$3.31. WTI: Up (1.35%), US$63.30. Gold: Down (0.65%), US$3,375.20. Copper: Down (1.39%), US$4.76. To stay up-to-date on all of your market news head to Join the discussion: Find out what everybody's saying about the global market open on 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.
