Futures for Canada's main stock index rose on Thursday after China said it would hold trade talks with the United States later this month, while the Turkish lira continued to recover from its fall last week.
The S&P/TSX Composite Index plummeted 182.17 points, or 1.1%, to end Wednesday at 16,148.50
The Canadian dollar faded 0.4 cents at 76.06 cents U.S. early Thursday
September futures vaulted 0.6% Thursday
French government sources say the Macron government will support the appointment of Air Canada executive Ben Smith as the chief executive of Air France-KLM.
Canaccord Genuity raised the price target on Dream Unlimited to $13 from $12.75
Canaccord Genuity raised the price target on Suncor Energy to $67.00 from $64.00
Canaccord Genuity raised the price target on Husky Energy to $25.00 from $23.00
On the economic calendar, Statistics Canada reported that manufacturing sales rose 1.1% to $58.1 billion in June, following a 1.5% increase in May. The increase in June was mainly due to sharply higher sales in the petroleum and coal product industry, while sales were down in the chemicals and food manufacturing industries.
ON BAYSTREET
The TSX Venture Exchange parted with 5.91 points Wednesday to 667.88
ON WALLSTREET
U.S. stock index futures jumped ahead of Thursday's open on renewed hope that a resolution to a trade dispute with China could be on the horizon. Investors also cheered strong quarterly results from WalMart.
Futures for the Dow Jones Industrials jumped 190 points, or 0.8%, to 25,379
S&P 500 futures gained 12.75 points, or 0.5%, to 2,834, while futures for the NASDAQ composite took on 44.75 points, or 0.6%, to 7,418.75
U.S. stock futures also got a boost from strong WalMart quarterly earnings. The results sent Walmart shares surging nearly 10% in the pre-market after the company reported its biggest jump in U.S. sales in a decade. The results also lifted shares of Target, which gained 2.9%.
All the major economic data are due out at 8:30 a.m. ET, which includes jobless claims, housing starts, the Philadelphia Fed's Manufacturing Business Outlook Survey, and the business leaders’ survey.
Stock futures rose on reports saying that China and the U.S. will hold a fresh round of trade talks later in August, giving investors hope that a resolution to the two countries' trade could be on the horizon.
A Chinese delegation led by Vice Minister of Commerce Wang Shouwen will meet with U.S. representatives led by Under Secretary of Treasury for International Affairs David Malpass, the Chinese Ministry of Commerce said
Overseas, in Japan, the Nikkei 225 dipped 0.1% while in Hong Kong, the Hang Seng index gave back 0.8%.
Oil prices picked up 13 cents to $65.14 U.S. a barrel.
Gold prices added $3.20 to $1,188.20 U.S. an ounce.
