Futures for Canada's main stock index edged higher on Thursday on stabilizing oil prices, along with signs of easing trade dispute between the U.S. and China.
The S&P/TSX Composite Index moved into positive territory, albeit by only 1.34 points by the end of Wednesday to 15,133.12
The Canadian dollar advanced 0.14 cents at 75.62 U.S. early Thursday
December futures eked up 0.1% Thursday.
Detour Gold said on Thursday it agreed to name two of investor Paulson & Co's nominees to its board as it looks to end a proxy fight with the hedge fund that had called for a complete overhaul of the board.
Suncor Energy said on Wednesday its chief executive will retire mid-next year, with the company's chief operating officer taking over the top job at that time.
CIBC cut the price target on Boyd Group Income Fund to $132.00 from $134.00
CIBC raised the price target on Loblaw Companies to $70.00 from $69.00
National Bank of Canada cut the price target Uni-Select to $25.00 from $26.50
On the economic front, the Canadian Real Estate Association said home sales via Canadian MLS® Systems edged back by 1.6% in October 2018.
CREA adds, while activity is still stronger compared to the first half of 2018, it remains below monthly levels recorded from early 2014 through 2017.
ON BAYSTREET
The TSX Venture Exchange stumbled 7.21 points, or 1.2%., Wednesday to 619.21
ON WALLSTREET
U.S. stock index futures pointed to a higher open Thursday morning amid better-than-expected earnings results from WalMart and Cisco and a modest rebound in the technology sector.
Futures for the Dow Jones Industrials gained 29 points, or 0.1%, to 25,073
S&P futures picked up 3.75 points, or 0.1%, to 2,702.25, while the NASDAQ Composite soared 25.5 points, or 0.4%, to 6,793.75.
A number of strong corporate earnings results buoyed U.S. equities higher Thursday morning as better-than-expected profit at both Cisco and Walmart lifted market sentiment.
Cisco shares rallied 4.5% before the bell after the tech giant beat on both the top and bottom lines for the first fiscal quarter. The San Jose, California-based Cisco reported revenue rose 7.7% as it takes action to mitigate the impact any future impact from the Trump administration's trade dispute with China.
Other major technology stocks rallied in the wake of Cisco's performance, with Amazon, Apple and Netflix all up at least 0.5% in pre-market trading.
Sentiment across the globe has improved on reports that China has delivered a written response to U.S. trade demands. U.S. government sources told the media Wednesday that China had sent a response to U.S. demands on the ongoing trade negotiation, giving hopes to investors that the two sides might bring an end to the spat.
WalMart's mixed third-quarter results were enough to send shares up 1% before the market open. The company reported strong e-commerce sales as it continues to tack on brands to compete with rival Amazon and foster its grocery segment. The giant retailer also raise its forecast for earnings and same-store sales in the U.S. for the full year, expecting a strong holiday season.
Sterling plunged by over 1% against the U.S. dollar Thursday morning after U.K. Brexit Secretary Dominic Raab resigned from his post, piling yet more pressure on Prime Minister Theresa May as she tries to get her draft Brexit agreement through Parliament.
Meanwhile, U.S. investors will be keeping a close watch on a slew of economic data expected on Thursday. At 8:30 a.m. ET, weekly jobless claims numbers are expected, followed by retail sales and a Philly Fed manufacturing survey at the same time.
Overseas, in Japan, the Nikkei 225 faded 0.2% Thursday, while in Hong Kong, the Hang Seng index pumped 1.8% higher.
Oil prices improved 36 cents to $56.61 U.S. a barrel.
Gold prices dropped a dollar to $1,209.10 U.S. an ounce.
