Futures tied to Canada's main stock index slipped on Thursday, pressured by sharp declines in precious metals and oil prices, as investors assessed a fresh round of earnings updates from Wall Street.
The TSX zoomed 182.95 points to close Wednesday at 32,571.55.
March futures fell 0.1% Thursday.
Investors awaited quarterly results from luxury apparel maker Canada Goose, scheduled for release later in the day.
The Canadian dollar ditched 0.1 cents to 73.05 cents U.S.
The federal government is expected to announce its national automotive strategy on Thursday, replacing the country's electric vehicle mandate with new fuel-efficiency standards and credits, CBC News reported on Wednesday.
ON BAYSTREET
The TSX Venture Exchange vaulted 22.05 points, or 2.1%, to 1,052.72.
ON WALLSTREET
S&P 500 futures fell on Thursday as Alphabet and Qualcomm both slumped following earnings announcements and cryptocurrency losses mounted.
Alphabet was the latest of the so-called Magnificent Seven companies to report earnings results. The company projected a sharp increase in artificial intelligence spending and called for 2026 capital expenditures of up to $185 billion. Shares were last down 3% in premarket trading.
In contrast, Nvidia and Broadcom rose following news of Alphabet’s spending plans, boosting hopes for the artificial intelligence trade.
Alongside Alphabet, Qualcomm came under pressure, sliding 11% in early trading after posting a weaker-than-expected forecast because of a global memory shortage.
The cryptocurrency market’s selloff also continued to gather steam, with bitcoin briefly dipping under $70,000, which is considered a key support level.
Futures for the Dow Jones Industrials wilted 79 points, or 0.2%, to 49,496.
Futures for the broader index dropped 17.25 points, or 0.3%, at 6,889.
Futures for the NASDAQ turned lower 85.5 points, or 0.3%, to 25,436.25.
Markets in Japan stumbled, with the Nikkei 225 index declining 0.9% Thursday, while the Hang Seng in Hong Kong poked up 0.1%.
Oil prices dropped $1.01 to $64.13 U.S. a barrel.
Gold prices dulled $93.10 to $4,857.70 U.S an ounce.
