Baystreet.ca - Futures for Canada's main stock index fell on Thursday ahead of key U.S. inflation data that can provide investors insights into Federal Reserve's monetary policy decision next month.
The TSX Composite Index popped 152.39 points to close Wednesday at 24,224.90
December futures sank 0.2% Thursday.
The Canadian dollar was off 0.19 cents to 73.14 cents U.S.
In corporate news, TD Bank (TSX:TD) is expected to pay about $3 billion in penalties as part of a settlement with U.S. regulators and prosecutors, the Wall Street Journal reported.
ON BAYSTREET
The TSX Venture Exchange inched forward 3.23 points Wednesday to 590.84.
ON WALLSTREET
U.S. stock futures slipped Thursday as investors looked ahead to the release of September’s consumer price index report.
Futures for the Dow Jones Industrials flopped 50 points, or 0.1%, to 42,766.
Futures for the S&P 500 lost 10 points, or 0.2% to 5,831.25.
Futures for the NASDAQ Composite Index dropped 44.25 points, or 0.2%, to 20,418.25.
Delta Air Lines (NYSE:DAL) shares were down more than 5% in the pre-market after the airline posted mixed quarterly results.
Shares of power generator builder Generac were down more than 2% in the premarket as Hurricane Milton batters Florida. The stock had been rising as the storm approached the state’s west coast. Week to date, it’s up 9%.
Insurance stocks Progressive, AIG (NYSE:AIG) and Travelers (NYSE:TRV) rose slightly.
September’s CPI report is due at 8:30 a.m. ET, with investors looking for further signs that inflation is on a cooling trend. Economists polled by Dow Jones anticipate a 0.1% increase on a monthly basis, and a 2.3% advance over the prior 12 months.
The result will also inform the Federal Reserve’s next steps on policy at its November meeting. Fed funds futures trading data suggests a roughly 70% likelihood of a quarter-point cut,
Other economic releases due on Thursday morning include weekly initial jobless claims.
In Japan, the Nikkei 225 gained 0.3% Thursday, while in Hong Kong, the Hang Seng popped 3%.
Oil prices gathered 96 cents to $74.20 U.S. a barrel.
Gold prices took on $4.50 to $2,630.50