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Canada's retail sales shrink as tariffs bite, June expected to improve

OTTAWA, July 24 (Reuters) - Canada's retail sales shrank by 1.1% in May as consumers curtailed car purchases and spent less at supermarkets, convenience stores and on alcohol, data showed on Thursday.Retail sales - closely watched by economists as they give an indication of GDP trends - had held up fairly strongly in the last two months, as concerns around the timing and magnitude of tariffs threatened by U.S. President Donald Trump brought forward purchases.

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Nasdaq CEO signals improved IPO market momentum, shares jump on results beat

July 24 (Reuters) - Nasdaq (NDAQ.O), CEO said on Thursday the strong performance of recent large-cap IPOs has improved the outlook for new listings, riding high after beating second-quarter profit estimates that sent the exchange operator's shares up 7%.Initial public offerings on its eponymous exchange rebounded strongly in the first half of 2025, reaching their highest level since 2021, when listings had hit a global record.

Safe-haven gold slips as trade optimism lifts risk appetite

July 24 (Reuters) - Gold prices fell for a second straight session on Thursday, as signs of easing global trade tensions dampened demand for safe-haven assets.

US business activity rises; tariffs fuel inflation concerns

WASHINGTON, July 24 (Reuters) - U.S. business activity picked up in July, but companies asked higher prices for goods and services, supporting economists' views that inflation will accelerate in the second half of the year mainly because of tariffs on imports.

Meme stock surge underlines market froth, mostly centred on retail investors

NEW YORK, July 24 (Reuters) - Massive moves in stocks such as Kohl’s and Opendoor Technologies are raising questions over whether a new wave of meme stock trading is underway and what that signals about risk appetite more broadly.Benchmark equity indexes have touched record highs, cryptocurrencies are rallying, and options trading volumes have jumped, highlighting renewed signs of speculative fervor across asset classes.

S&P 500, Nasdaq open higher; Dow falls as UnitedHealth, IBM, Honeywell weigh

July 24 (Reuters) - The S&P 500 and the Nasdaq opened higher on Thursday as investors assessed tech earnings and monitored trade negotiations, while losses in shares of IBM, Honeywell and UnitedHealth weighed on the Dow.The Dow Jones Industrial Average (.DJI), fell 233.9 points, or 0.52%, at the open to 44776.41. The S&P 500 (.SPX), rose 9.7 points, or 0.15%, to 6368.6, while the Nasdaq Composite (.IXIC), rose 63.8 points, or 0.30%, to 21083.818.Reporting by Nikhil Sharma; Editing by Maju Samuel

Markets' trade deal euphoria ignores tariff reality

ORLANDO, Florida, July 24 (Reuters) - The optimism sweeping world stock markets following news of emerging and expected U.S. trade deals is undeniable and understandable. But it is also puzzling.

Big central bank rate cuts slow with tariffs and politics in headlights

LONDON, July 24 (Reuters) - The pace of central bank rate cuts is slowing as early movers near the end of their easing cycles while sticky inflation keeps others cautious.Politics both domestic and international is another complication for central bankers, particularly in the United States, where President Donald Trump continues to muse publicly about firing Federal Reserve chair Jerome Powell.Here's where 10 big central banks stand on the monetary policy path.1/ SWITZERLAND

TSX futures flat as investors eye U.S. trade talks and Trump’s Fed visit

July 24 (Reuters) - Futures tied to Canada’s main stock index were flat on Thursday as investors awaited updates on U.S. trade negotiations ahead of the August 1 deadline and assessed a surprise visit to the Federal Reserve by U.S. President Donald Trump.Futures on Toronto's S&P/TSX index (.SXFcv1), were flat at 1628.80 points by 06:15 a.m. ET (1015 GMT).Investors continued to monitor tariff-related developments after Japan reached a deal with the United States, while two European Union diplomats indicated the bloc was moving toward a trade agreement with Washington.

Dollar rises against euro, mixed versus yen on trade deal progress

July 24 (Reuters) - The dollar edged higher against the euro on Thursday following progress in U.S. trade talks with key partners, but was mixed versus the yen, which got a lift from expectations for higher rates while political risks weigh.

BoE to cut rates in August and November with steady economic growth anticipated- Reuters poll

BENGALURU, July 24 (Reuters) - Britain's economy will grow at a slow, steady pace this year and next, keeping the Bank of England on course to cut interest rates on August 7 and again in November despite inflation remaining above target in coming months, according to most economists polled by Reuters.

Gold extends losses after trade deal hopes curb safe-haven demand

July 24 (Reuters) - Gold prices extended losses on Thursday from the previous session as easing trade tensions increased risk sentiment and weighed on demand for safe-haven assets.

Chile bumps up copper price forecast, flags lagging Collahuasi output

Top copper supplier Chile on Wednesday bumped up its outlook for prices of the red metal, though it flagged lagging output from a major mine operated by Glencore and Anglo American as weighing on economic growth.Finance Minister Mario Marcel, in a presentation to Congress, upped the government forecast for average copper prices for this year to $4.28 per pound, from $4.26 per pound previously.

Jul 23, 2025 - 5:55 PM

New Ghana mining laws to shorten licence periods, boost community investment

Ghana plans to shorten mining licence durations and mandate direct revenue-sharing with local communities in its most sweeping mining law reforms in nearly two decades, details of which were announced by a government minister on Wednesday.The planned overhaul reflects a broader trend across West Africa, where governments are rewriting mining codes to capture more value from rising commodity prices.

Jul 23, 2025 - 5:53 PM

Bessent says Fed forecasts 'politically biased'

WASHINGTON, July 23 (Reuters) - U.S. Treasury Secretary Scott Bessent on Wednesday suggested without evidence that the Federal Reserve's widely followed economic forecasts are motivated by politics, as the Trump administration steps up pressure on the U.S. central bank to cut interest rates.

Jul 23, 2025 - 5:46 PM

TSX climbs to record high on global trade deal optimism

July 23 (Reuters) - Canada's main stock index posted a record high on Wednesday, helped by gains for energy and financial shares, as investors cheered signs that countries are reaching trade deals with the United States ahead of an August 1 deadline.The Toronto Stock Exchange's S&P/TSX composite index (.GSPTSE), ended up 51.98 points, or 0.2%, at 27,416.41, eclipsing Thursday's record closing high.

Jul 23, 2025 - 4:55 PM

Canadian dollar steadies near three-week high as investor sentiment rises

TORONTO, July 23 (Reuters) - The Canadian dollar was barely changed against its U.S. counterpart on Wednesday, with the commodity-linked currency holding near an earlier three-week high as investors weighed prospects of additional trade deals that could improve the global economic outlook.

Jul 23, 2025 - 3:57 PM

US refiners may see Q2 profit recover on stronger diesel margins

NEW YORK, July 23 (Reuters) - Investors are expecting top U.S. refiners to report higher second-quarter profits, bouncing back from losses during the first three months of the year as unseasonably strong diesel margins boost earnings.Fuelmakers have reaped unexpected profits from producing key products in recent months, a respite after earnings slipped from record levels in 2022, when a recovery in demand following the COVID-19 pandemic and Russia's invasion of Ukraine lifted prices.

Jul 23, 2025 - 3:13 PM

Zimplats weighs reopening mothballed mine as prices rebound

Impala Platinum’s Zimbabwean business is considering reopening a mine mothballed in 1998, an official said on Wednesday, after platinum prices rallied to their highest level in more than a decade.Australia-listed Zimplats, 87% owned by Impala, took over the Hartley mine when it acquired assets previously owned by BHP in 2001.The mine was put under care and maintenance after failing to meet key production targets, Impala board chairperson Thandi Orleyn said during the commissioning of a 35 megawatt solar plant at Zimplats on Wednesday.

Jul 23, 2025 - 2:33 PM

Zijin leads race to buy Barrick’s Ivory Coast gold mine

China’s Zijin Mining is the front-runner to acquire Barrick Mining’s Tongon gold mine in northern Ivory Coast for up to $500 million, two sources close to the matter told Reuters.Barrick, the world’s third largest gold producer, is pivoting toward high-margin, long-life assets, with a growing focus on copper and strategic operations in Africa and the Middle East.

Jul 23, 2025 - 2:32 PM

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