© Reuters.
Investing.com — Canada’s main stock index, the S&P/TSX Composite index, tracked Wall Street’s main indices lower today as sentiment turned risk-off following the second revision of U.S. fourth-quarter .
The second estimate released by the Bureau of Economic Analysis showed that the U.S. economy grew at an annual rate of 3.2% in Q4 2023. The data indicates continued strength in the U.S. economy, and reinforces the implication that the Fed will not need to rush to
Markets now await the release of the U.S. , the Federal Reserve’s preferred measure of inflation, and Canadian , both due Thursday.
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Toronto Stock Market News
Royal Bank of Canada (TSX:) reported a better-than-expected first-quarter profit. Adjusted profit came in at $4.07 billion, or $2.85 per share, above analysts’ estimates for $2.80 per share. Net interest income rose 2.1% for the quarter. Total provisions for credit losses jumped to $813 million, up 53%, from a year ago.
National Bank of Canada (OTC:) (TSX:) reported a better-than-expected first-quarter profit. On an adjusted basis, RBC earned $2.59 per share, beating analysts’ estimates of $2.36. Net interest income slid 31.7% to $751 million in the first quarter. Provisions for credit losses in the first quarter rose to $120 million from $86 million.
For all earnings, view our earnings calendar.
Toronto Stocks Moving Markets Today
Top Gainers on the TSX Today:
- Lithium Americas (TSX:)
- Innergex Renewables (TSX:)
- National Bank of Canada (TSX:)
Top Losers on the TSX Today:
- SSR Mining (NASDAQ:)
- Parkland (TSX:) Fuel
- IAMGold (TSX:)
For all Canadian Stocks Moving Markets today, view our Canada Markets Page.
In Canadian Economics
Data from Statistics Canada showed that private payroll numbers increased by 31,600 (0.2%) on a monthly basis in December. On a yearly basis in December, payroll numbers grew by 223,500 (1.3%).
Job vacancies held steady in December, for the third consecutive month.
On a month-over-month basis, average weekly earnings were down 1.1% to $1,212 in December on a monthly basis. On a year-over-year basis, average weekly earnings grew by 3.8% in December
For all Canadian economic releases, view our economic calendar.
All currencies Canadian Dollar unless noted otherwise.
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