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TSX Futures Fall on Downbeat Earnings

META Sells off, IBM Also in Picture

The TSX Composite retreated 138 points to conclude Wednesday at 21,873.72.

June futures were down 0.2% Thursday.

The Canadian dollar eked up 0.2 cents to 73.12 cents U.S.

Teck Resources missed first-quarter profit estimates on Thursday, pulled down partly by lacklustre steelmaking coal sales volumes and lower zinc prices.

Statistics Canada reported the number of employees receiving pay and benefits from their employer decreased by 17,700 (-0.1%) in February, following an increase of 35,700 (+0.2%) in January. On a year-over-year basis, payroll employment was up by 154,700 (+0.9%) in February.


The TSX Venture Exchange subsided 1.14 points Wednesday to 574.65.


U.S. stock futures fell Thursday after tech juggernaut Meta Platforms reported quarterly results that disappointed investors.

Futures for the Dow Jones Industrials tumbled 225 points, or 0.6%, to 38,455.

Futures for the broader index sank 35.25 points, or 0.7%, to 5,071.75.

Futures for the NASDAQ Composite slid 190.25 points, or 1.1%, to 17,474.25.

Meta plunged 12% in premarket trading after the social media giant issued light revenue guidance for the second quarter. That would be the stock’s biggest one-day decline since October 2022. International Business Machines also fell 8% after missing consensus estimates for first-quarter revenue.

Meta’s report raises concern ahead of other big tech releases. Microsoft and Alphabet are slated to post earnings after the close Thursday.

Traders will watch out for the first-quarter reading of the U.S. gross domestic product, due at 8:30 a.m. ET Thursday. Economists polled by Dow Jones expect that real GDP came in at 2.4%. Weekly jobless claims are also due.

In Japan, the Nikkei 225 slid 2.2% Thursday, while in Hong Kong, the Hang Seng gained 0.5%.

Oil prices nicked ahead 40 cents to $83.21 U.S. a barrel.

Gold prices lost 0.1 cents to $2,314.20 U.S. an ounce.