The Canadian shares might open mixed on Friday. The benchmark S&P/TSX Composite is slightly gaining, after yesterday’s close at 20,278.51. There have been a lack of direction for Canadian shares throughout the trading day on Thursday.
Food prices for 2024 are expected to rise, though in slower rates. In Canada, the prices have been growing and certain food items showed up to 50 percent increase. Energy costs are also expected to increase.
Investors are looking ahead to the U.S. Labor Department’s jobs report which might have an impact on the outlook for interest rates ahead of the Federal Reserve’s monetary policy meeting next week.
In a shift to its current immigration regulations, Canada has doubled its financial requirements for foreign students who seek visas for Canada. This will be effective from January 1, 2024 and will be raised to C$20,635 from C$10,000.
Against the U.S. and the Canadian dollars, the Aussie edged up to 0.6621 and 0.8987 from yesterday’s closing quotes of 0.6601 and 0.8975, respectively.
In the corporate sector, CWB Financial Group Friday reported a fourth-quarter profit of C$77 million, down 7 percent from the prior year. On a per-share basis, earnings declined 7 percent to C$0.80, while adjusted earnings per share were up 7 percent at C$0.94.
Gold futures are slightly down, while silver futures are gaining. Copper futures also is slightly up.
European shares are trading higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 151.53 points or 2.07 percent. The German DAX is adding 20.22 points or 0.12 percent, the U.K. FTSE 100 Index is gaining 12.53 points or 0.17 percent.
The Swiss Market Index is climbing 27.61 points or 0.25 percent.
The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.54 percent.
Asian stocks were mixed at Friday’s close. Chinese shares edged up.
The benchmark Shanghai Composite index edged up 0.11 percent to 2,969.56 while Hong Kong’s Hang Seng index ended marginally lower at 16,334.37 after a choppy session.
The U.S. Employment Situation for November will be released at 8.30 am ET. The non-farm payrolls consensus is 180,000, while it was up 150,000. The unemployment rate is expected to increase 3.9 percent, while it was up 3.9 percent in October.
The Consumer Sentiment for December will be published at 10.00 am ET. The consensus is up 61.9, while in November it was up 61.3 percent.
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