This morning, Wall Street futures edged higher after the previous session’s losses as uncertainty from unrest in China over COVID-19 restrictions persists. TSX futures were up with the start of bank earnings on deck. What you need to know today ⬇️
Wall Street futures edged higher early Tuesday after the previous session’s losses as uncertainty from unrest in China over COVID-19 restrictions persists. Major European markets were choppy in early trading. TSX futures were up with the start of bank earnings on deck.
“Currently, investors remain in a tug-of-war between fresh lockdowns and the possibility that the protests lead to a quicker move away from the zero COVID strategies, which, based on past global reopening performances, would prove highly supportive for local and offshore markets,” Stephen Innes, managing partner with SPI Asset Management, said in a release.
In this country, a week of bank earnings gets underway with results from Bank of Nova Scotia. Other major banks are set to release results later in the week.came in at $2.62-billion, or $2.06 a share, in the three months ended Oct. 31, compared with $2.72-billion, or $2.10, a year earlier. Analysts on average had expected $2 a share, according to Refinitiv data. Canada’s third-largest lender reported overall net profit of $2.09-billion, or $1.63 a share, compared with $2.56-billion, or $1.
Overseas, the pan-European STOXX 600 was down 0.15 per cent. Britain’s FTSE 100 edged up 0.48 per cent. Germany’s DAX and France’s CAC 40 slid 0.37 per cent and 0.15 per cent, respectively. “While the protest in China is indeed eye-catching and weighed like an anvil on broader sentiment, oil markets turned more pragmatic, heeding caution not to interpret the flashpoint overly bearish,” SPI Asset Management’s Stephen Innes said.
“Although, in reality, it will only be Saudi Arabia trimming at the margin. Still, OPEC seems almost to aim to wrong-foot the market with the timing of policy shifts, so we can not fully rule out a production cut.”Spot gold was up 0.8 per cent at US$1,755.40 per ounce by early Tuesday morning.The Canadian dollar advanced while its U.S. counterpart pulled back against a group of world currencies.Canadian investors get September and third-quarter GDP numbers before the start of trading.
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