Futures Flat Thursday

BlackBerry, Bombardier in Focus

Futures were little changed for stocks in Canada’s largest market on Thursday, with investors awaiting a report on U.S. economic growth in the second quarter.

The S&P/TSX Composite Index jumped 135.54 points to close Wednesday at 15,609.66

December futures were down 0.04% Thursday morning.

The Canadian dollar gained 0.06 cents to 80.21 cents U.S. Thursday morning.

BlackBerry posted a rise in second-quarter adjusted profit on lower revenue as sales at its closely watched software business hit a record.

British Prime Minister Theresa May said that Boeing was undermining its relationship with Britain by its behaviour in a dispute with Canadian rival Bombardier that has put 4,200 jobs at risk in Northern Ireland.

A senior executive of Royal Bank of Canada says Canada’s biggest bank is experimenting with blockchain to help move payments between its U.S. and Canadian banks,

Eight Capital cut the target price on eCobalt Solutions to $2.10 from $2.20

CIBC raised the price target on Linamar Corp to $81.00 from $69.00

On the economic calendar, Statistics Canada reported that average weekly earnings of non-farm payroll employees were $970 in July, little changed from the previous month. Compared with July 2016, earnings were up 1.8%

ON BAYSTREET

The TSX Venture Exchange retreated 0.32 points Wednesday to 775.61

ON WALLSTREET

U.S. stock index futures pointed to a marginally lower open on Thursday morning, after U.S. President Donald Trump unveiled a massive overhaul to the tax system.

Futures for the Dow Jones Industrials skidded 33 points, or 0.2%, to 22,265.

S&P 500 futures fell 4.5 points, or 0.2%, to 2,500, while futures on the NASDAQ Composite index slumped 19.5 points, or 0.3%, to 5,921.50

In the corporate world, Vail Resorts is set to release its latest earnings figures before the bell and KB Home will report after the bell.

Investors will be watching out for fresh data releases with jobless claims out this morning. There will also be revised gross domestic product figures for the second quarter of the year and international trade in goods numbers.

Trump announced the biggest tax reform for the U.S. in 30 years on Wednesday, proposing tax cuts for most citizens. However, the plan received some criticism for favoring the wealthier and raised doubts over its impact on the country's deficit.

Overseas, European stocks were mixed nearing noon on the continent Thursday, while Japan’s Nikkei 225 gained 0.5%, and CSI 300 in Shanghai inched up 1.34 points.

Oil prices took on 42 cents to $52.56 U.S. per barrel.

Gold prices picked up 20 cents to $1,288 U.S. an ounce.