Canada's main stock index was set to open higher on Thursday after a two-session selloff as oil prices climbed on supply worries, while investors awaited the release of annual budget later in the day.
The TSX Composite Index lost 142.23 points to conclude midweek Wednesday at 21,788.60.
June futures edged up 0.1% Thursday.
The Canadian dollar eked up 0.08 cents to 79.66 cents U.S.
BlackBerry plans to settle a more than eight-year-old lawsuit claiming it defrauded shareholders by inflating the success and profitability of its long-discontinued BlackBerry 10 smartphones.
Ottawa has approved a $12-billion offshore oil project proposed by Norway's Equinor ASA, after an environmental assessment concluded it would not cause significant adverse effects.
ATB Capital Markets resumes coverage on Auxly Cannabis Group with an outperform rating and a price target of 40 cents.
RBC cut the target price on Canfor Corp. to $40.00 from $45.00
RBC also cut the target price on Interfor to $45.00 from $50.00.
The Trudeau Liberals will unveil their 2022 budget around 4 p.m. ET which they promise will be "fiscally responsible" after having already pledged billions in new programs and increased military spending.
ON BAYSTREET
The TSX Venture Exchange stayed in the minus category, 10.35 points, or 1.2%, Wednesday to 880.88.
ON WALLSTREET
Stock futures rose slightly Thursday as the market tried to recover from back-to-back losing sessions, while traders digested the Federal Reserve’s plans to tighten monetary policy.
Futures for the Dow Jones Industrials faded 13 points to 34,386.
Futures for the S&P 500 squeezed up 6.5 points, or 0.1%, to 4,482.25.
Futures for the NASDAQ Composite Index amassed 41.25 points, or 0.3%, to 14,546.50.
Shares of HP Inc surged 15% in the pre-market after Warren Buffett’s Berkshire Hathaway disclosed a stake in the tech hardware maker.
The Fed on Wednesday released the minutes from its March meeting, which showed that officials planed to reduce their trillions in bond holdings with a consensus amount around $95 billion.
Meanwhile, policymakers indicated that one or more 50 basis-point interest rate hikes could be warranted to battle surging inflation.
In Asia, the Nikkei 225 in Japan dipped 1.7%, while in Hong Kong, the Hang Seng fell 1.2%.
Oil prices hiked $2.16 to $98.39 U.S. a barrel.
Gold prices gained $11.40 to $1,934.50 U.S.
Futures Inch Higher after Selloff
