Stock futures pointed to a higher opening for equities in this country on Thursday ahead of a key vote in the U.S. Congress on a health-care bill that is seen as a litmus test of President Donald Trump's ability to legislate.
The S&P/TSX Composite Index gained 35.33 points to close Wednesday at 15,348.46. June futures climbed 0.2% Thursday
The Canadian dollar poked up 0.02 cents to 75.02 cents U.S. early Thursday.
The Trudeau government unveiled a stay-the-course budget on Wednesday that targeted export growth and some measure of tax reform but did little to whittle away at deficits even as it backed off from an explicit pledge to improve the debt outlook.
The budget also took aim at ride-sharing providers such as Uber Technologies Inc, looking to end a tax advantage they have over traditional taxi companies.
Alberta Premier Rachel Notley says her province has obtained federal aid to help clean up the rising number of oil wells whose owners have gone bankrupt. Notley’s remarks came after the release of the federal budget on Wednesday.
Desjardins raised the target price on Amaya Inc., to $24.50
Raymond James cut the target price on RMP Energy to $0.75 from $1.00
RBC cut the target price on Yellow Pages Ltd. to $9.00 from $16.00
On matters economic, Statistics Canada reported that those drawing regular employment insurance numbered 567,900 in January, little changed from the previous month.
The agency goes on to say that, in the 12 months to January, the number of EI beneficiaries in Canada was up by 20,300, or 3.7%, largely as a result of increases in Alberta
ON BAYSTREET
The TSX Venture Exchange finished negative 3.44 points to 800.92 Wednesday
ON WALLSTREET
U.S. stock index futures pointed to a slightly higher open on Thursday as traders eyed the release of data and a key vote in the House.
Ahead of the opening bell, futures for the Dow Jones Industrials added 18 points, or 0.1%, to 20,614. Futures for the S&P 500 gained 4.75 points, or 0.2%, to 2,347.25. NASDAQ futures picked up 7.25 points, or 0.1%, to 5,373
The House is set to vote on the Republican-backed health-care bill that, if signed into law, would repeal and replace Obamacare.
Investors have been keeping a close eye on the vote as a prolonged battle on the health-care front could delay market friendly measures, including tax reform and fiscal stimulus.
On the economic front, Thursday morning will see initial jobless claims and new home sales.
Federal Reserve Chair Janet Yellen is set to give opening remarks this morning at the Federal Reserve System Community Development Research Conference in Washington, D.C. Market watchers will be keenly awaiting any indications on the trajectory of the economy and rates.
European stocks pushed ahead about 0.2% on the continent by noon local time, while the Nikkei 225 dug itself out of the ruins of Wednesday and gained 0.2%, while Shanghai’s CSI 300 added 0.4%.
Oil prices progressed 18 cents to $48.22 U.S. per barrel.
Gold prices slid $1.90 to $1,247.80 U.S. an ounce.
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