Before the Bell: What every Canadian investor needs to know today

Equities

Global markets climbed as CoreWeave results helped ease AI bubble fears, while inflation worries kept a lid on gains.

Wall Street futures were in positive territory after major North American markets closed down yesterday after hotter-than-expected U.S. inflation numbers.

TSX futures followed sentiment higher.

In Canada, investors are getting results from Power Corp. of Canada, Franco-Nevada Corp., CAE Inc., CGI Inc. and Cargojet Inc.

“CoreWeave’s results came out post-market... people were holding their breath hoping for a good result. I think they were relatively well rewarded,” said Jamie Hannah, deputy head of investments at VanEck.

Overseas, the pan-European STOXX 600 was up 0.26 per cent in morning trading. Britain’s FTSE 100 rose 0.28 per cent, Germany’s DAX gained 0.59 per cent and France’s CAC 40 advanced 0.26 per cent.

In Asia, Japan’s Nikkei closed 1.31 per cent higher, while Hong Kong’s Hang Seng eased 0.98 per cent.

Commodities

Oil prices rose two-month lows, as the market swung between hopes for a de-escalation ⁠in ​the U.S.-Israeli war on Iran and concerns about attacks on shipping in the Strait of Hormuz.

Brent futures climbed ​1.45 per cent to US$92.82 a barrel. ‌West Texas Intermediate (WTI) crude gained 0.86 per cent to US$86.78.

“There has been an ‌increase of ​vessel attacks in the Gulf shipping ‌lanes amidst uncertainty of the diplomacy talks,” said June Goh, senior analyst at Sparta Commodities.

“With ​the U.S. midterms well over and more crude flows ⁠out of the Middle East, there seems to be more bearish tones to ⁠the oil price.”

In other commodities, spot gold rose 0.6 per cent to US$4,057.33 an ounce after falling nearly 3 per cent yesterday. U.S. gold futures for December delivery advanced 0.9 per cent ​to US$4,065.40.

Currencies and bonds

The Canadian dollar weakened against its U.S. counterpart.

The day range on the loonie was 70.30 US cents to 70.60 US cents in early trading. The Canadian dollar was up about 0.11 per cent against the greenback over the past month. It traded at $1.4222 per US$1.

The U.S. dollar index, which weighs the greenback against a group of currencies, rose 0.27 per cent to 102.51.

The euro dropped 0.27 per cent to US$1.1137. The British pound slid 0.19 per cent to US$1.3318.

In bonds, North American markets are closed for holiday.

Economic news

Canadian Remembrance Day (stock markets open, bond markets closed)

U.S. Veterans Day (stock markets open, bond markets closed)

China aggregate yuan financing and new yuan loans

Japan machine tool orders

Germany CPI

With Reuters and The Canadian Press