Stocks in Minus Column by Noon

Stock indexes in Canada‚Äôs largest centre fell on Friday, led by declines in energy and material shares after data showed domestic factory sales fell for a fourth straight month, with investors also digesting the Russian president’s comments on no plans for further military mobilization.

The TSX Composite faltered 122.26 points to break for noon hour EDT at 18,491.37.

The Canadian dollar weakened 0.6 cents to 72.07 cents U.S.

The TSX has lost 12.9% so far this year after the Russia-Ukraine war spiraled commodity prices across the globe

Resource stocks took it on the chin Friday, with Hudbay Minerals descending 32 cents, or 5.8%, to $5.24, while Endeavour Silver gave back 21 cents, or 4.6%, to $4.34.

In gold stocks, Eldorado Gold lost 41 cents, or 4.8%, to $8.13, while OceanaGold handed back 11 cents, or 5%, to $2.11.

Techs tried to right the ship, as Shopify moved ahead 32 cents … Read more

Canadian CPI on Horizon for Next Week



Economic Lookahead

Empire State manufacturing index (Oct.)

Featured Earnings

Bank of America Corporation (NYSE:BAC) (Q3) EPS estimates for 80 cents, compared to 85 cents in the prior-year quarter.

Charles Schwab Corporation (NYSE: SCHW) (Q2) EPS estimates for $1.04, compared to 84 cents in the prior-year quarter.

Bank of New York Mellon Corporation (NYSE:BK) (Q3) EPS estimates for $1.10, compared to $1.04 in the prior-year quarter.

Featured Earnings

Esports Entertainment Group, Inc. (C.GSQ) (Q1) EPS estimates for loss of two cents, compared to loss of one cent in the prior-year quarter.



Economic Lookahead

Industrial production index (Sept)

NAHB home builders’ index (Oct.)

Featured Earnings

Johnson & Johnson (NYSE:JNJ) (Q3) EPS estimates for $2.57, compared to $2.60 in the prior-year quarter.

Netflix Inc. (NASDAQ:NFLX) (Q3) EPS estimates for $2.12, compared to $3.19 in the prior-year quarter.

Intuitive Surgical Inc. (NASDAQ: ISRG) (Q3) EPS estimates for 93 cents, compared … Read more

USD / CAD – Canadian dollar whip-sawed

– Retail Sales and U of Michigan Consumer Confidence ahead

– UK budget U-turn expected

– US dollar opens mixed after wild Thursday

USDCAD snapshot: open 1.3793-97, overnight range 1.3706-1.3811, close 1.3755, WTI $88.46, Gold $1653.85

The Canadian dollar is just a little worse for wear after a wild ride on Thursday. USDCAD spiked to 1.3976 from 1.3775 in the wake of a hotter than expected US inflation report. CPI rose 8.2% y/y in September, a tick above the 8.1% expected, while core-CPI jumped to 6.6% compared to 6.3% in August.

Then the entire move was reversed and USDCAD plunged to 1.3708 which coincided with a Wall Street equity staging a rally while the US 10-year Treasury yield dropped from 4.03% to 3.89%.

The Canadian dollar range was a tad narrower overnight, but still relatively wide as traders and analysts remain concerned about geopolitical tensions and the outlook for US … Read more