Stocks and US futures were mixed on Tuesday amid caution in global markets ahead of the Federal Reserve interest-rate hike.
European energy and mining stocks rallied with oil and metals, while retailers and banks fell. UBS Group AG dropped more than 5 per cent after reporting weaker-than-expected profit, while Walmart Inc. tumbled in US premarket trading on its surprise warning and Alibaba Group Holding Ltd. jumped amid plans to seek a primary listing in Hong Kong.
Traders are braced for a widely expected 75 basis points Fed rate rise on Wednesday, part of campaign to tackle inflation, as well as corporate reports from the likes of Apple Inc. and Alphabet Inc. They’re also assessing risks including ongoing disruptions to European gas supplies from Russia and China’s COVID curbs and property woes.
Commodities prices are surging as signs of tightness outweigh economic concerns. European natural gas rose to the highest level in more than four months, while crude and copper jumped. Energy ministers from the European Union’s 27 member states are meeting in Brussels to wrangle over backing a proposal from the European Commission to regulate consumption.
“This is most likely a bear market rally and there are significant risks still facing this market,” she said on Bloomberg Television. “We’re probably going to be seeing a lot of choppiness and potentially some further declines in the market before the year end.”Alphabet, Apple, Amazon, Microsoft, Meta earnings due this weekIMF’s world economic outlook update, TuesdayAustralia CPI, Wednesday
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Asian stocks higher ahead of possible U.S. rate hikeAsian stock markets were mostly higher Tuesday as investors braced for another sharp interest rate hike by the Federal Reserve to cool inflation.
Read more »
‘Crypto winter’ chills valuations for these 10 Canadian-listed stocksWe are looking at valuations for Canadian-listed crypto- or blockchain-related stocks for a sense of how this so-called hedge is performing
Read more »
Why bonds might be more important than stocksTo demystify the world of bonds, The Globe’s feature writer Ian Brown is here. He speaks to us about how bonds work, how they play into today’s economy and why the foundation they’re built on may be cracking
Read more »
Six bargain dividend stocks for investors to play a market reboundThree dividend fund managers give their top picks for stocks to buy on sale amid the market downturn
Read more »
U.S. President Joe Biden’s global promises held back by politics at homeDomestic politics have routinely been a roadblock when it comes to taking action on climate change, taxes and pandemic relief
Read more »
Jordan Peele's 'Nope' debuts at No. 1 with US$44 millionJordan Peele's UFO thriller 'Nope' topped the North American charts in its first weekend in theaters with an estimated US$44 million in ticket sales, Universal Pictures said Sunday. Though it doesn't come close to the $71 million debut of 'Us,' it is still significantly impressive for an original, R-rated film -- and the biggest of the pandemic for an original screenplay.
Read more »