Futures pointed to a lower opening for Canada's main stock index on Thursday as oil prices fell on signs that the Organization of the Petroleum Exporting Countries is nearing a deal to bump up crude production.
The S&P/TSX Composite Index vaulted 104.42 points to close Wednesday at 16,420.95
The Canadian dollar wilted 0.11 cents to 75.02 cents U.S. early Thurssday
June futures were down 0.1% Thursday
Brookfield Asset Management Inc launched a $515-million bid for Australian retirement village owner Gateway Lifestyle Group, topping an earlier bid from Hometown America Corp and setting up a takeover tussle.
Barclays adjusted the price target on Dollarama Inc. to $52.00 from $157.00
Marijuana sales will become legal in Canada beginning Oct. 17, Prime Minister Justin Trudeau said on Wednesday, making it the first major economy to legalize its recreational use.
British Columbia said it is preparing legislation to crack down on "hidden ownership" in real estate and pledged Canada's first public registry of property owners, amid concerns that offshore money and criminal investors are helping fuel a housing crisis in the Pacific Coast province.
On the economic slate, Statistics Canada reported Thursday that those drawing regular employment insurance benefits numbered 453,100 people, down 15,900 or 3.4% from March, continuing the downward trend that began in the fall of 2016. The number of EI beneficiaries in April was at its lowest level since comparable data became available in 1997.
Also that month, wholesale sales edged up 0.1% to $63.1 billion in April. Increases in the machinery, equipment and supplies and the food, beverage and tobacco sub-sectors were almost completely offset by declines in the motor vehicle and parts sub-sector.
ON BAYSTREET
The TSX Venture Exchange leaned lower 0.04 points Wednesday to 751.25
ON WALLSTREET
U.S. stock index futures were mixed of Thursday's open, as tensions surrounding a trade dispute between the U.S. and China continue to simmer.
Futures for the Dow Jones Industrials slid 59 points, or 0.2%, to 24,611
S&P 500 futures eased 1.5 points or 0.1%, to 2,770.5, while futures for the NASDAQ composite index gained 1.75 points to 7,315
Kroger Company and Darden Restaurants are among a slew of companies releasing earning Thursday
Earlier this week, President Donald Trump requested the United States Trade Representative identify $200 billion worth of Chinese goods for additional tariffs, at a rate of 10%.He stated that these additional levies would be imposed on Beijing if it refused "to change its practices" and continued with the new tariffs it recently declared on the U.S.
Beijing reacted by pledging to look at its own counter measures against the U.S.
Coming up Thursday, jobless claims and the Philadelphia Fed's manufacturing business outlook survey were both due out at 8:30 a.m. ET, followed by FHFA house price index data at 9 a.m. ET.
Overseas, the Bank of England kept interest rates unchanged amid falling inflation and lackluster growth data.
In Japan, the Nikkei 225 picked up 0.6% Wednesday. In Hong Kong, the Hang Seng index settled 1.4%
Oil prices 84 cents to $64.87 U.S. per barrel.
Gold prices $8.70 to $1,266 U.S. an ounce.
