Baystreet.ca - Canada's main stock index opened slightly higher on Thursday, with trading thin due a U.S. market holiday, while investors awaited crucial monthly jobs data out of Canada and the U.S. for clues on the interest rate path.
The TSX prospered 14.84 points soon after Thursday’s open to 25.066.52.
The Canadian dollar dipped 0.1 cents at 69.45 cents U.S.
All eyes will be on U.S. non-farm payrolls data, due Friday, as it is a key indicator for markets to gauge the inflation direction and policy rate path of the Federal Reserve.
The Fed signaled a more cautious pace of rate cuts at its last monetary policy meeting, and traders now expect the first trim this year in either May or June,
Back home, domestic employment figures, also due on Friday, will set the tone for policy easing by the Bank of Canada.
In corporate news, Canadian Natural Resources (TSX:CNQ) projected increased production for 2025, as it bets on higher demand amid tight oil supplies. Natural Resources picked up two cents to $47.01.
ON BAYSTREET
The TSX Venture Exchange nicked higher 2.14 points to 612.27.
Eight of the 12 TSX subgroups were lower in the first hour, with health-care, communications and industrials each descending 0.4%.
The four gainers were led by materials, up 1%, gold, improving 0.7%, and energy, up 0.2%.
ON WALLSTREET
U.S. markets are closed Thursday in memory of former President Jimmy Carter.