Futures for Canada's main stock index rose on Thursday, ahead of key U.S. inflation data which could influence the Federal Reserve's rate hike path.
The TSX Composite dumped 304.91 points, or 1.6%, to close Wednesday at 19,355.40.
December futures gained 0.3% on Wednesday.
The Canadian dollar slid 0.15 cents to 73.78 cents U.S.
Canadian Tire reported a near 20% fall in quarterly profit as inflation-weary consumers cut back on high-margin discretionary purchases such as sports equipment and auto parts.
ON BAYSTREET
The TSX Venture Exchange wilted 24.36 points, or 4%, Wednesday to 578.02
ON WALLSTREET
Stock futures inched higher Thursday as investors awaited new inflation data and eyed U.S. election results.
Futures for the Dow Jones Industrials gained 43 points, or 0.1%, to 32,569.
Futures for the S&P 500 hiked 7.25 points, or 0.2%, to 3,762.75.
Futures for the NASDAQ Composite jumped 43 points, or 0.4%, to 10,873.75.
The gains follow Wednesday’s losses, came amid uncertainty stemming from U.S. midterm elections. The market had hoped Republicans would take sweeping control of the House of Representatives and the Senate on Tuesday – a situation that would create gridlock in Washington, D.C. Instead, key Senate races in Arizona, Georgia and Nevada remain tightly contested. Indeed, the Senate race between Raphael Warnock, the Democratic incumbent, and Herschel Walker will head to a December runoff.
October’s CPI report, due Thursday at 8:30 a.m. ET, is the next focal point for investors. Economists polled by Dow Jones expect that headline CPI rose in October by 0.6% from September, or 7.9% over a year ago. It’s a key report for the Federal Reserve, which will meet again in mid-December.
Weekly jobless claims are also due out on Thursday morning.
In Japan, the Nikkei 225 dipped 1%, while in Hong Kong, the Hang Seng Index faded 1.7% Thursday.
Oil prices slipped 34 cents to $85.49 U.S. a barrel.
Gold prices slid $2.10 to $1,711.60 U.S. an ounce.
