Stock futures pointed to a higher opening for Canada's main stock index on Thursday, as investors took in new housing price index data for May.
The S&P/TSX Composite Index moved into the red 5.15 points to end Wednesday at 15,143.99. September futures vaulted 0.9% early Thursday.
The Canadian dollar was unchanged at 78.38 cents early Thursday
Sears Canada Inc majority shareholders including Edward Lampert, ESL Investments Inc and Fairholme Capital Management LLC are seeking access to internal documents related to its restructuring, according to a notice of motion posted on Wednesday.
Canaccord Genuity starts coverage of Aveda Transportation with a speculative buy rating
Barclays raised the target price on Sun Life Financial to $53.00 from $52.00
On the economic scene, Statistics Canada saidToronto and Vancouver were largely responsible for a 0.7% monthly rise in new house prices in Canada in May.
ON BAYSTREET
The TSX Venture Exchange gained 8.58 points, or 1.4%, to 758.48
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Thursday as traders were comforted by the Federal Reserve's economic outlook and looked ahead to Chair Janet Yellen's second day of address to Congress.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped four points to 21,479. Futures for the S&P 500 inched up 1.75 points, or 0.1%, to 2,441.75. NASDAQ futures advanced 9.5 points, or 0.2%, to 5,795.25
On the earnings front, Delta Airlines and Commerce Bancshares posted quarterly results before the bell. IT services and consultancy firm Infosys will report after the bell.
Yellen said Wednesday that the U.S. economy was healthy enough for further rate hikes and the winding down of its bond portfolio — though she hinted hikes would now be more gradual.
Falling unemployment and steady household consumption have helped boost the economy, despite downward pressures from low inflation, Yellen said, in what may be one of her final addresses to Congress.
In terms of data, Thursday will see the release of jobless claims and producer price index data in the morning. The Federal Budget will be announced in the afternoon.
European markets moved significantly higher Thursday afternoon, as investors looked to a meeting in Paris between French President Emmanuel Macron and German Chancellor Angela Merkel.
Japan’s Nikkei 225 eked up 1.4 points and Shanghai’s CSI 300 gained 0.8%
Oil prices subsided 42 cents to $45.07 U.S. per barrel.
Gold prices nicked up 10 cents to $1,219.2 0 U.S. an ounce.
