Bay Street Likely To Open Slightly Lower

The mystery is yet to be unraveled around three unidentified flying objects shot down by the U.S. F-16 fighter jets at a height of 20000 feet near the Canadian border.

Gold and silver futures are trending lower, while crude oil prices are also expected to be down as the Russian invasion of Ukraine is continuing.

U.S. CPI readings on Tuesday might get special attention across the global markets.

The S&P/TSX Composite Index closed marginally higher on Friday. Investors are worried about the possible changes in interest rates.

Bed Bath & Beyond Canada is reportedly planning to close 54 stores and 11 buybuy Baby stores as it is going out of business. The company received an initial order for creditor protection on Friday.

Asian stocks were down at the close on Monday. Chinese shares ended notably higher. The Shanghai Composite index gained 0.72 percent to 3,284.16 while Hong Kong’s Hang Seng index closed 0.12 percent lower to 21,164.42.

Japanese shares were lower on Monday. The Nikkei average dropped 0.88 percent to close at 27,427.32 while the broader Topix index ended 0.47 percent lower at 1,977.67.

Australian markets finished slightly lower. The benchmark S&P/ASX 200 index slid 0.21 percent to 7,417.80, while the broader All Ordinaries index closed 0.22 percent lower at 7,614.50.

European shares are on a bullish trend. CAC 40 of France is adding 47.21 points or 0.66 percent. DAX of Germany is up 43.00 points or 0.28 percent. FTSE 100 of England is gaining 25.77 points or 0.33 percent. Swiss Market Index is up 34.97 points or 0.31 percent.

Euro Stoxx 50 is gaining 0.56 percent.

On Monday, the asset management and disposition firm Ritchie Bros. Auctioneers Inc. reported an increase in preliminary earnings and revenue for the fourth-quarter and fiscal 2022.

Preliminary profit for the quarter is expected in a range of $42 million – $45 million, compared to $30.595 million last year.

Preliminary revenue was approximately $444 million, higher than $359.373 million of the previous year quarter.

Dye & Durham Monday announced net loss of C$34.8 million for the second quarter compared to C$30.8 million in the prior year.

Revenue for the quarter declined 3 percent to C$106.7 million from the prior year.

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