Stock futures pointed to a lower opening for Canada's main stock index on Thursday as oil prices fell after government data showed an unexpected rise in U.S. crude stockpiles.
The S&P/TSX Composite Index surrendered 41.84 points to close Wednesday at 16,477.40
The Canadian dollar deferred 0.45 cents at 75.48 cents U.S. early Thursday
September futures dawdled 0.4% Thursday
Rogers Communications Inc reported a 2% rise in quarterly profit on Thursday as more subscribers signed up for the Canadian telecom company's wireless postpaid services.
Kinder Morgan Canada on Wednesday reported a quarterly profit that nearly halved, as it moved lower volumes of crude oil through its pipeline and its interest expenses also rose due to the pending sale of its Trans Mountain pipeline.
Detour Gold and activist investor Paulson & Co entered into an increasingly heated public exchange on Wednesday over the hedge fund's campaign to seek change at the company and a possible merger approach.
Raymond James raised the price target on Canadian Pacific Railway to $285.00 from $275.00
On the economic front, Statistics Canada found 454,100 people received regular Employment Insurance benefits during May, virtually unchanged from April.
ON BAYSTREET
The TSX Venture Exchange recouped 4.47 points Wednesday to 717.52.
ON WALLSTREET
U.S. stock index futures pointed to a negative open on Thursday, as investors tracked further earnings results and monitored political events.
Futures for the Dow Jones Industrials decreased 86 points, or 0.3%, to 25,075
S&P 500 futures fell 8.75 points, or 0.3%, to 2,807.25, while futures for the NASDAQ composite dipped 25.45 points, or 0.4%, to 7,378.75
IBM shares rose more than 2.5% in the pre-market, after the Dow component reported earnings and revenue that surpassed expectations.
American Express, another Dow member, posted a profit that was just above estimates, while sales came in slightly below estimates. Shares of American Express fell more than 2% before the bell.
Bank of NY Mellon reported quarterly results that were roughly in line with expectations. Microsoft is expected to report after the close.
Market players are also awaiting jobless numbers due out this morning and the Philly Fed manufacturing index due at the same time.
Meanwhile, traders will also keep an eye on politics after President Donald Trump said that the U.S. may negotiate a trade deal with Mexico. Regarding trade, the White House signaled it is also expecting an offer from Europe for a free trade deal.
Overseas, in Japan, the Nikkei 225 dipped 0.1%, while in Hong Kong, the Hang Seng index shed 0.4%.
Oil prices lost 49 cents to $68.27 U.S. a barrel.
Gold prices lopped off $12.90 to $1,215.00 U.S. an ounce.
