Canadian stock index futures inched higher on Thursday with investors cautious about the outcome of the U.S. government's debt ceiling talks.
The S&P/TSX composite index fell 12.18 points to close Wednesday at 12,836.71, with futures up 0.07%.
The Canadian dollar squeezed higher 0.06 cents to 97.02 cents U.S. early Thursday
Shares of BlackBerry were expected to be in focus after falling on Wednesday on doubts about a $4.7-billion bid to take the smartphone maker private
Bear Creek Mining Corp. has secured environmental approvals for its Corani mine in Peru, but development of the large silver project will likely remain on hold for now, the head of the miner said on Wednesday.
National Bank Financial raised the rating on AGF Management Ltd. to outperform from sector perform, expecting a re-rating for the company's shares as it trades at a discount to its historical average and to peers, which reflects heavy net redemptions in recent years.
BMO raised the price target on CN Railway Co. to $119 from $115, expect the company's revenue growth rate to accelerate to over 8% in 2014 and earnings per share growth to be in the mid-to-high teens including the contribution from share repurchase programs.
ON BAYSTREET
The TSX Venture Exchange tacked on 1.45 points Wednesday to 949.21
ON WALLSTREET
After five straight days of losses, U.S. stocks could start with gains Thursday.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 25 points, or 0.2%, to 15,235. Futures for the S&P 500 took on 18.5 points, or 0.6%, to 1,688.30, and futures for the NASDAQ gained 2.5 points, or 0.2%, to 3,218.50.
After hitting record highs earlier in the month, market sentiment has taken a hit as investors worry about political gridlock, a possible government shutdown and federal debt issues. These issues all have the potential to hurt America's economic growth.
The Dow has lost more than 400 points, or nearly 2.6%, during its five consecutive days of losses.
In corporate news, JCPenney's stock plunged in premarket trading, after plummeting 15% on Wednesday, after reports that the retailer might seek $1 billion U.S. through a stock sale.
Nike and Accenture are set to release quarterly results after the closing bell.
Shares of Bed Bath & Beyond jumped in pre-market trading after the retailer posted quarterly earnings Wednesday that beat expectations.
Investors are now waiting for the U.S. government to provide its final estimate of second-quarter GDP, which increased at a 2.5% annual rate from April to June, according to preliminary reports.
The government will also release its weekly report on initial jobless claims, which are expected to total 325,000 for the week ended Sept. 21, according to the consensus forecast from Briefing.com.
European markets were edging lower in midday trading.
Asian markets ended with mixed numbers. Markets in China declined, but Japanese stocks rallied -- with the Nikkei jumping by 1.2% -- on talk of a potential corporate tax cut
Oil prices increased 48 cents to $103.14 U.S. a barrel
Gold prices increased 30 cents to $1,336.50 U.S. an ounce.
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