Baystreet.ca - Futures for Canada’s main stock index edged up on Thursday, supported by strength in precious metals, while investors await U.S. producer price data which could cement or dilute rate-cut prospects by the U.S. Federal Reserve.
The TSX Composite Index slid Wednesday 68.72 points to 25,563.11.
Futures were up 0.1% early Thursday.
The Canadian dollar squeezed ahead 0.09 cents to 70.02 cents U.S. early Thursday.
In corporate news, Sun Life Financial (TSX:SLF) reported a fall in its fourth-quarter profit on Wednesday, as weakness in U.S. business took away gains made in Asian markets.
ON BAYSTREET
The TSX Venture Exchange surged 7.08 points, or 1.1%, Wednesday to 641.62
ON WALLSTREET
Stock futures edged slightly lower Thursday as traders awaited more inflation stats while global trade fears lingered.
Futures for the Dow Jones Industrials dropped one point to 44,461.
Futures for the S&P 500 lost 5.5 points or 0.1%, to 6,067.25.
Futures for the tech-heavy NASDAQ fell two points to 21,802.75.
Reddit shares sank more than 10% in premarket trading as quarterly user figures underwhelmed Wall Street. On the other hand, Dutch Bros (NYSE:BROS) surged about 24% after the coffee shop chain reported stronger-than-expected earnings and same-store sales that surpassed expectations.
Earnings season continues, meanwhile, with Airbnb (NASDAQ:ABNB), Coinbase (NASDAQ:COIN) and Palo Alto Networks among the companies expected to report after Thursday’s closing bell. Of the more than 69% of S&P 500-listed firms that have already posted results, more than 75% have surpassed Wall Street expectations, according to FactSet.
The January producer price index is due for release at 8:30 a.m. ET. Economists polled by Dow Jones expect an increase of 0.3%.
In Japan, the Nikkei 225 hiked 1.3%, while in Hong Kong, the Hang Seng eased back 0.2%.
Oil prices faded 79 cents to $70.58 U.S. a barrel.
Gold prices gained $15.10 to $2,943.80 U.S. an ounce.