* Treasury yields fall before Fed minutes. * Wall Street rises on growth stocks. * U.S. dollar snaps two-day losing streak. By Elizabeth Dilts Marshall. Stock markets rose and benchmark U.S. treasury yields fell on Wednesday as traders waited for news from the U.S. Federal Reserve - the world's most influential central bank - that might shed light on the path of its policy tightening.
A rally in energy and cannabis firms put Canada's main stock index on course for its fourth straight session of gains on Wednesday, even as the wider sentiment remained cautious ahead of minutes from the U.S. Federal Reserve's latest meeting.
The Russian rouble fell sharply past 60 to the dollar from its strongest level in more than four years in volatile trade on Wednesday and bonds rallied after the central bank announced an extraordinary board meeting.
Canada's main stock index is expected to advance less than previously thought this year as economic growth slows and central banks raise interest rates, a Reuters poll found. The median prediction of 26 portfolio managers and strategists was for the S&P/TSX Composite index to rise 4.4% to 21,183 by the end of 2022, compared with a forecast of 22,175 in the previous poll in February.
* Fed minutes due later in the day. * Commodity stocks, banks among biggest boosts. * German consumer morale seen rising in June. * Marks & Spencer slips as warns on current quarter outlook. By Susan Mathew.
The Russian rouble firmed past 56 against the dollar on Wednesday for the first time since 2018, and touched a seven-year high against the euro as export-focused companies sold foreign currency to pay taxes and traders shrugged off the expiry of a key debt payment licence.
- European shares eked out gains on Wednesday, lifted by resource-linked stocks and banks, with investors watching for updates from central banks on monetary policy tightening amid rising concerns of an economic slowdown. The pan-European STOXX 600 index rose 0.4% by 0832 GMT, paring some early gains as heavyweight technology and luxury names slipped.
Wall Street strategists expect U.S. stocks to end 2022 above current beaten-down levels but some warned of turbulence on concerns inflation and aggressive interest rate rises crimps economic growth and unnerves investors, a Reuters poll found. The benchmark S&P 500 will end this year at 4,400, based on the median forecast of 43 strategists polled by Reuters over roughly the last two weeks.
* Stocks slide on poor earnings, bearish economic data. * China talks stimulus, but economic damage already done. * Euro near 4-week high as Lagarde flags July rate hike. By Herbert Lash and Lawrence White.
* TSX ends up 88.59 points, or 0.4%, at 20,286.20. * Energy climbs 2.5%; materials ends 1.4% higher. * Financials advance 0.9% * Flash estimate shows factory sales rising 1.6% in April. By Fergal Smith. Canada's main stock index rose on Tuesday as resource and financial shares gained after investors returned from a long weekend, although losses in U.S. equities kept sentiment in check.
News, commentary and research reports are from third-party sources unaffiliated with Fidelity. Fidelity does not endorse or adopt their content. Fidelity makes no guarantees that information supplied is accurate, complete, or timely, and does not provide any warranties regarding results obtained from their use.
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