Canadian stock index futures pointed to a flat to slightly lower opening on Thursday as disappointing trade data from China and industrial data from Italy and France overshadowed indications that the U.S. Federal Reserve would not raise interest rates as quickly as expected.
The S&P/TSX composite index ended Wednesday up 63.13 points at 14,435.58, with June futures down 0.1% Thursday.
The Canadian dollar settled 0.15 cents to 91.74 cents U.S. early Thursday
Among Canadian companies to watch this morning, Goldcorp, the world's second-biggest gold miner by market value, raised its offer to buy Osisko Mining Corp to about $3.6 billion.
BlackBerry would consider exiting its handset business if it remains unprofitable, its CEO said, as the technology company looks to expand its corporate reach with investments, acquisitions and partnerships.
Cable TV, internet and phone services provider Cogeco Cable raised its full-year profit outlook, citing expansion into data services and its U.S. cable business.
In the economic docket, Statistics Canada reported its new housing index rose 0.2% in February, following a 0.3% increase in January.
The Bank of Canada is unlikely to raise interest rates until the third quarter of 2015, possibly later than the U.S. Fed, and will stick to a staunchly neutral stance in its policy statement next week, according to a Reuters poll of analysts.
ON BAYSTREET
The TSX Venture Exchange improved 4.58 points Wednesday to 1,003.37
ON WALLSTREET
Thursday's big question in the markets is whether stocks can advance Thursday for the third day in a row.
Ahead of the opening bell, futures for the Dow Jones Industrials gave back eight points to 16,352. Futures for the S&P 500 dropped 3.6 points, or 0.2%, to 1,861.20, and futures for the NASDAQ dipped five points, or 0.1%, to 3,586.
Rite Aid shares surged in pre-market trading, driven by strong adjusted earnings per share in the drug retailer's quarterly report.
Home decor retailer Pier 1 announced that quarterly net income dropped, compared to the year before.
Shares in retailer Bed Bath & Beyond managed to even out in pre-market trading, after falling in the after-hours following a company report about quarterly revenue that missed Wall Street's expectations.
Shares of La Quinta rose in extended trading. The hotel chain began trading Wednesday.
Investors were feeling upbeat after minutes from the latest U.S. Federal Reserve meeting seemed to indicate that interest rates will remain low for some time. But as the morning dragged on, futures slipped into the red, as a mixed bag of earnings results failed to carry the momentum forward.
Looking to the day ahead, markets are awaiting the weekly jobless claims report in the U.S.
Most major European markets were moving slightly higher in midday trading in the afterglow of Wednesday's rally on Wall Street. But the CAC 40 in Paris was flat.
Investors across Europe are watching as Greece returns to the bond market for the first time in more than four years. The country is looking to raise money by issuing five-year bonds, and demand is reported to be strong.
Greece was shut out of international markets in 2010 when its economy collapsed, leading to two rescues by the European Union and International Monetary Fund.
Meanwhile, in Asia, nearly all the major stock markets ended with gains.
The Hang Seng in Hong Kong shot up by 1.5% and the Shanghai Composite added 1.4%. Japan’s Nikkei 225 index was flat.
Oil prices lost 24 cents to $103.36 U.S. a barrel
Gold prices bolted $17.00 higher to $1,322.90 U.S. an ounce.
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