Stock futures pointed to a higher opening for Canada's main stock index on Thursday, as oil prices edged up supported by a decrease in U.S. crude inventories.
The S&P/TSX Composite Index ducked 5.05 points lower to end Wednesday at 15,910.63
The Canadian dollar dipped 0.3 cents to 77.89cents U.S. Thursday morning.
December futures gained 0.2% Thursday.
Lululemon Athletica Inc on Wednesday reported a higher-than-expected profit and gave an upbeat holiday-quarter forecast, sending its shares up nearly 7% in after-hours trading.
Rogers Communications’ CFO said the company is considering selling the Toronto Blue Jays in an effort to generate cash that could be used in its core business.
Alberta unveiled new rules on Wednesday on how it would charge large industrial emitters including the oil sands sector for carbon output, saying emissions will be cut by 19% by 2030.
Canaccord Genuity cut the rating on Automotive Finco Corp. to hold from speculative buy
CIBC raised the target price on Dollarama Inc. to $168.00 from $157.00 with an outperform rating
Berenberg cut the price target on Lundin Mining to $7.50, with a hold rating
On the data beat, building permits Canadian municipalities issued $8.2 billion worth of building permits in October, up 3.5% from the previous month, according to figures from Statistics Canada.
The agency added all building components rose with the exception of the institutional component.
Elsewhere, Western University’s IVEY School of Business issues its Purchasing Managers Index for November around 10 a.m. ET.
The TSX Venture Exchange finished Wednesday negative 0.28 points to 783.66
U.S. stock index futures pointed to a slightly positive open on Thursday, as investors await more developments concerning an overhaul of the U.S. tax system.
Futures for the Dow Jones Industrials fell 31 points, or 0.1%, to 24,126
S&P 500 futures inched up 0.5 points, at 2,629.75, while futures on the NASDAQ Composite index added 14 points, or 0.2%, to 6,307
Dell Technologies, Dollar General, Vail Resorts, American Outdoor Brands and Cloudera are just some of the names set to publish their latest earnings Thursday.
Elsewhere, jobless claims were expected to come out at 8:30 a.m. ET, followed by Quarterly Services Survey data at 10 a.m. ET. Consumer credit is expected to be released later on in the day, at 3 p.m. ET.
Overseas, European stocks were somewhat muted at noon local time, while Japan’s Nikkei 225 shot up 1.5%. In Hong Kong, the Hang Seng Index progressed 0.3%
Oil prices gained 20 cents to $56.16 U.S. per barrel.
Gold prices doffed $8.40 to $1,257.70 U.S. an ounce.