Get 40% Off
🤯 This Tech Portfolio is up 29% YTD! Join Now to Get April’s Top PicksGet The Picks – Just 99 USD

TSX futures slip weighed by weak gold prices

Published 2021-02-25, 07:29 a/m
Updated 2021-02-25, 07:30 a/m
© Reuters. FILE PHOTO: Toronto Stock Exchange's S&P/TSX composite index rises to a record high

© Reuters. FILE PHOTO: Toronto Stock Exchange's S&P/TSX composite index rises to a record high

(Reuters) - Futures for Canada's main stock index fell on Thursday pressured by lower gold prices, although losses were limited by crude prices hitting their highest levels in more than 13 months.

Spot gold fell 1.04% and gold futures shed 0.94% as U.S. Treasury yields hovered near a one-year high, tarnishing bullion's appeal.

March futures on the S&P/TSX index were down 0.19% at 7:00 a.m. ET.

Oil prices extended gains for a fourth session on Thursday underpinned by an assurance that U.S. interest rates will stay low, and a sharp drop in U.S. crude output last week due to the storm in Texas. [O/R]

Data showing Canada's average weekly earnings for December is due at 08:30 a.m. ET.

The Toronto Stock Exchange's S&P/TSX composite index ended 0.93% higher at 18,501.47 on Wednesday.

Dow Jones Industrial Average e-mini futures were down 0.04% at 7:00 a.m. ET. S&P 500 e-mini futures were down 0.38% and Nasdaq 100 e-mini futures NQc1 fell 1.05%. (N)

TOP STORIES [TOP/CAN]

Canadian Imperial Bank of Commerce beat analysts' estimates for quarterly profit on Thursday, as it put aside lower-than-expected funds for loan loss provisions and its capital markets segment performed well.

Canadian mining group Lundin plans to begin operating its Argentine silver-gold-copper project Josemaria in 2026, after an investment of $ 3.09 billion, a company spokesman told Reuters on Wednesday.

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Altus Group Ltd (Ontario): Canaccord Genuity cuts target price to C$59 from C$65

Equitable Group Inc: Scotiabank raises target price to C$146 from C$136

Royal Bank of Canada: National Bank of Canada raises target price to C$123 from C$117

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1781; -0.94% [GOL/]

US crude: $63.4; +0.3% [O/R]

Brent crude: $67.19; +0.24% [O/R]

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Durable goods for Jan: Expected 1.1%; Prior 0.5%

0830 Durables ex-transport for Jan: Expected 0.7%; Prior 1.1%

0830 Durables ex-defense mm for Jan: Prior 0.8%

0830 Nondefense cap ex-air for Jan: Expected 0.7%; Prior 0.7%

0830 GDP 2nd estimate for Q4: Expected 4.2%; Prior 4.0%

0830 GDP sales preliminary for Q4: Prior 3.0%

0830 GDP cons spending preliminary for Q4: Prior 2.5%

0830 GDP deflator preliminary for Q4: Expected 2.0%; Prior 1.9%

0830 Core PCE prices preliminary for Q4: Expected 1.4%; Prior 1.4%

0830 PCE prices preliminary for Q4: Prior 1.5%

0830 Initial jobless clm : Expected 838,000; Prior 861,000

0830 Jobless clm 4week average : Prior 833,250

0830 Continues jobless clm : Expected 4.467mln; Prior 4.494 mln

1000 Pending Homes Index for Jan: Prior 125.5

1000 Pending sales change mm for Jan: Expected 0.0%; Prior -0.3%

1100 KC Fed Manufacturing for Feb: Prior 22

1100 KC Fed Composite Index for Feb: Prior 17

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report (TO)

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada

Canadian markets directory

© Reuters. FILE PHOTO: Toronto Stock Exchange's S&P/TSX composite index rises to a record high

($1= C$1.25)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.