Baystreet.ca - Futures for Canada's main stock index inched higher on Thursday, supported by an uptick in gold prices and positive corporate earnings, while caution ahead of a U.S. jobs reading kept a check on gains.
The TSX Composite Index finished Wednesday in the red 99.43 points to 21,879.02.
The Canadian dollar gained 0.02 cents to 72.73 cents U.S.
September futures on the S&P/TSX index were better by 0.4% Thursday.
Among stocks, Manulife Financial (TSX:MFC) reported better-than-expected quarterly profit on Wednesday, powered by a 40% rise in earnings from Asia.Restaurant Brands International (TSX:QSR) beat Wall Street expectations for second-quarter revenue, as its Tim Hortons and Burger King outlets enjoyed steady demand.
ON BAYSTREET
The TSX Venture Exchange lost 8.94 points Wednesday to 533.73
ON WALLSTREET
Stock market futures fell Thursday as Wall Street struggled to stabilize following several dramatic swings in recent days.
Futures for the Dow Jones Industrials lost 90 points, or 0.2%, to 38,815.
Futures for the S&P 500 index fell 5.75 points, or 0.1%, at 5,221.75
Futures for the NASDAQ slid 3.75 points to 17,962.75.
All three averages have now declined in four of the past five sessions.
One of the issues blamed for Monday’s steep market selloff was Friday’s jobs report, which showed slowing employment growth. As a result, traders might be paying even closer attention to Thursday’s weekly jobless claims, searching for a potential rise in layoffs.
Corporate earnings could also be a major factor in market moves on Thursday. Warner Bros. Discovery and Bumble were each sliding in extended trading after reporting soft second-quarter revenue results.
Companies set to report earnings on Thursday morning include Eli Lilly (NYSE:LLY) and Under Armour
In Japan, the Nikkei 225 slid 0.7% Thursday, while in Hong Kong, the Hang Seng index edged up 0.1%.
Oil prices gained nine cents to $75.32 U.S. a barrel.
Gold prices took on $13.90 to $2,446.30