What every Canadian investor needs to know today

Global markets extended gains as robust U.S. economic data continued to bolster investor sentiment while a mixed picture in China kept up pressure on policymakers for more stimulus.
On Wall Street, the S&P 500 and the Nasdaq opened higher, lifted by advances in technology shares, while the Dow edged lower. The Dow Jones Industrial Average fell 0.12 per cent to 43,187.12, the S&P 500 rose 0.31 per cent to 5,859.43, and the Nasdaq Composite gained 0.5 per cent to 18,466.005 at the bell.
The Toronto Stock Exchange’s S&P/TSX composite index opened 0.11 per cent higher at 24,717.21, boosted by mining stocks.
On Wall Street, markets are watching earnings from American Express Co. and Procter & Gamble Co.
While China’s economy is still struggling, fourth-quarter data could show some improvement and possibly allow Beijing to achieve its 5-per-cent target for this year, according to Vasu Menon, managing director of investment strategy at OCBC.
“China clearly needs a lot more fiscal and monetary stimulus, and markets are waiting with bated breath for details,” he said.
Overseas, the pan-European STOXX 600 was up 0.24 per cent in morning trading. Britain’s FTSE 100 slipped 0.27 per cent, Germany’s DAX gained 0.38 per cent and France’s CAC 40 rose 0.76 per cent.
In Asia, Japan’s Nikkei closed 0.18 per cent higher, while Hong Kong’s Hang Seng rose 3.61 per cent.
Up and way: World market themes for the week ahead
Oil futures slid as they headed for a roughly 7-per-cent weekly drop as China’s economic growth slowed and threats to supply abated in the Middle East.
Brent crude futures fell 1.2 per cent to US$73.56 a barrel, while West Texas Intermediate (WTI) crude was at US$69.72 a barrel, down 1.3 per cent.
“Positive U.S. economic data has helped alleviate some growth concerns, but market participants continue to monitor potential demand recovery in China following recent stimulus measures,” said Hani Abuagla, senior market analyst at XTB MENA.
In other commodities, spot gold was up 0.6 per cent at US$2,709.81 an ounce after scaling a record high of US$2,714 earlier in the session. U.S. gold futures rose 0.7 per cent to US$2,725.
The Canadian dollar strengthened against its U.S. counterpart.
The day range on the loonie was 72.45 US cents to 72.54 US cents in early trading. The Canadian dollar was down about 1.57 per cent against the greenback over the past month.
The U.S. dollar index, which weighs the greenback against a group of currencies, fell 0.19 per cent to 103.64.
The euro rose 0.1 per cent to US$1.0843. The British pound advanced 0.28 per cent to US$1.3047.
In bonds, the yield on the U.S. 10-year note was last up at 4.112 per cent.
Procter & Gamble has missed Wall Street expectations for first-quarter sales, as consumers in its major markets, the U.S. and China, switched to cheaper household and personal care brands.
American Express has recorded third-quarter profit above Wall Street estimates, benefiting from disciplined expense management that helped soften the hit from a decline in fees it earns from merchants.
China real GDP, industrial production, retail sales and fixed asset investment. China’s economy grew at the slowest pace since early 2023 in the third quarter, and though consumption and industrial output figures for last month beat forecasts, a tumbling property sector remains a big challenge for Beijing as it tries to boost growth.
Japan CPI: Japan’s core inflation slowed in September due to the rollout of energy subsidies but an index excluding the effect of fuel held steady, a sign that broadening price pressure will keep the central bank on track to raise interest rates further.
(8:30 a.m. ET) Canadian household and mortgage credit for August. The total credit liabilities of households rose 0.3 per cent from July to reach $2,98-trillion. Household mortgage debt increased 3.8 per cent on an annualized basis, a slight acceleration compared with July.
(8:30 a.m. ET) U.S. housing starts for September. The Street expects an annualized rate decline of 0.5 per cent.
(8:30 a.m. ET) U.S. building permits for September. Consensus is a 1.4-per-cent decline on an annualized rate basis.
With Reuters and The Canadian Press