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Futures Promise Big Gains Thursday

Adobe in Forefront

Futures for Canada's main stock index rose on Thursday as crude oil prices hit their highest level in 2023, boosting underlying stocks, while a moderate rise in U.S. inflation cemented bets for a pause in rate hikes in September by the U.S. Federal Reserve.

The TSX climbed 55.86 points to conclude business Wednesday at 20,278.94.

September futures were up 1.1% Thursday.

The Canadian dollar captured 0.19cents to 73.96 cents U.S.

On the economic schedule, Statistics Canada said wholesale trade (excluding petroleum, petroleum products, and other hydrocarbons and excluding oilseed and grain) grew 0.2% to $81.3 billion in July.


The TSX Venture Exchange recovered 6.11 points, or 1.1%, Wednesday to 582.90.


Stock futures climbed Thursday morning as traders prepared for the August producer price index, a measure of wholesale inflation.

Futures for the Dow Jones Industrials leaped 90 points, or 0.3%, to 35,008.

Futures for the S&P 500 were 17.5 points, or 0.4%, at 4,535.

Futures for the NASDAQ hiked 66 points, or 0.4%, to 15,618.25.

Another inflation metric looms ahead Thursday: the August reading of the producer price index. It is expected to have risen 0.4%, per economists polled by Dow Jones. In July, wholesale prices climbed 0.3%, surpassing expectations. Retail sales and jobless claims are also due before the open.

In the world of earnings, Adobe is expected to post quarterly results after the market close Thursday.

In Japan, the Nikkei 225 index hiked 1.4% Thursday, while in Hong Kong, the Hang Seng inched higher 0.2%.

Oil prices jumped $1.38 to $89.90 U.S. a barrel.

Gold prices settled $3.20 to $1,929.30.