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Global markets were muted as investors weighed robust corporate results and renewed enthusiasm for technology shares against continued Middle East tensions. |
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Wall Street futures were mixed after the Dow and S&P 500 closed at record highs yesterday on earnings optimism. |
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TSX futures pointed higher after Canada’s main stock index posted a record close yesterday. |
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In Canada, investors are getting results from Thomson Reuters Corp., Shopify Inc., Brookfield Asset Management Ltd., Manulife Financial Corp., Nutrien Ltd., South Bow Corp., Xanadu Quantum Technologies Ltd., WSP Global Inc. and Finning International Inc. |
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On Wall Street, markets are watching earnings from Eli Lilly & Co., Novo Nordisk A/S, Walt Disney Co. and Uber Technologies Inc. |
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“SpaceX continues to execute strongly operationally, but its ambitious investment program means additional capital will almost certainly be required over the medium to longer term,” said Chris Weston, head of research at broker Pepperstone. |
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Overseas, the pan-European STOXX 600 was 0.05 per cent in morning trading. Britain’s FTSE 100 rose 0.14 per cent, Germany’s DAX gained 0.04 per cent and France’s CAC 40 declined 0.05 per cent. |
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In Asia, Japan’s Nikkei closed 3.66 per cent higher, while Hong Kong’s Hang Seng advanced 0.24 per cent. |
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Oil prices climbed after Yemen’s Iran-aligned Houthi rebels said they attacked a Saudi oil tanker in the Red Sea, denting hopes of a de-escalation in Iran war hostilities that could restore shipping traffic and oil flows in the Middle East. |
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Brent crude futures were up 1.75 per cent to US$80.75 a barrel. West Texas Intermediate (WTI) futures gained 1 per cent to US$76.52 a barrel. |
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“While the immediate geopolitical premium has unwound, the broader supply picture warrants caution,” said Priyanka Sachdeva, head of market insights at Phillip Nova. |
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In other commodities, spot gold rose 2.2 per cent to US$4,164.13 an ounce. U.S. gold futures advanced 1.7 per cent to US$4,223.60. |
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The Canadian dollar weakened against its U.S. counterpart. |
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The day range on the loonie was 71.01 US cents to 71.12 US cents in early trading. The Canadian dollar was up about 0.76 per cent against the greenback over the past month. |
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The U.S. dollar index, which weighs the greenback against a group of currencies, edged down 0.03 per cent to 99.82. The dollar was pegged at $1.4065. |
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The euro rose 0.05 per cent to US$1.1538. The British pound gained 0.11 per cent to US$1.3466. |
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In bonds, the yield on the U.S. 10-year note was last down at 4.617 per cent. |
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China, Japan and Euro zone’s services and composite PMI |
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8:15 a.m. ET: U.S. ADP National Employment Report for July. |
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9:45 a.m. ET: U.S. S&P global services and composite PMI for July. |
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10 a.m. ET: U.S. ISM services PMI for July. |
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With Reuters and The Canadian Press |
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