Stock futures pointed to a lower opening for Canada's main stock index on Thursday
The S&P/TSX composite index galloped 157.83 points, or 1.1 %, to conclude Wednesday trading at 14,548.26. Thursday futures, however, tumbled 0.2%.
The Canadian dollar retreated 0.16 cents to 87.66 cents U.S. early Thursday.
Air Canada reported an 8% rise in third-quarter profit as operating margins rose.
Telecommunications company Telus reported a 5.4% rise in quarterly operating revenue as it added subscribers and its revenue per user rose.
Beverage maker Cott Corp said it would buy DSS Group Inc, parent of U.S. direct-to-consumer water and coffee provider DS Services of America Inc, for $1.25 billion.
Canadian Natural Resources posted an 11% fall in third-quarter profit, mainly due to lower realized prices for crude oil.
Quebecor reported a quarterly profit, compared with a year-earlier loss, helped by a large non-cash gain.
On the economic front, Statistics Canada reported this morning that municipalities issued building permits worth $7.5 billion in September, up 12.7% from August, following a 27.3% decrease the previous month.
The agency attributes the September spike to higher construction intentions for both non-residential and residential buildings in Ontario.
Later on this morning, Western University will publish its IVEY Purchasing Managers’ Index for October.
ON BAYSTREET
The TSX Venture Exchange gave back 4.01 points Wednesday to 747.11.
ON WALLSTREET
U.S. stock futures were dipping lower early Thursday after both the Dow Jones Industrial Average and the S&P 500 surged to new all-time highs Wednesday.
Ahead of the opening bell, futures for the Dow Jones Industrials erased 22 points, or 0.1%, to 17,396. Futures for the S&P 500 gave back 4.5 points, or 0.2%, to 2,014.25, and futures for the NASDAQ dropped five points, or 0.1%, to 4,137.50.
Shares in Tesla are set to jump Thursday after the company posted earnings that beat expectations. Whole Foods stock is also expected to pop after reporting record sales.
Shares in Time Warner could also be on the move after its quarterly results impressed investors.
Some of the big names reporting earnings before the opening bell include AOL, AstraZeneca, Cablevision, and DirecTV. Walt Disney and Zynga will post after the close.
There's a focus on U.S. jobs this morning. The U.S. government will post weekly jobless claims, and the Challenger Job Cuts report for October will also be out this morning.
OPEC will present its World Oil Outlook. Traders are hoping it will give more insight into long term plans for oil production and prices.
Crude oil prices have fallen by about 26% since the middle of June and are currently trading below $79 U.S. per barrel in New York, which is squeezing many nations that depend on energy exports.
All the major European markets were declining in early trading.
Oil prices lost 47 cents to $78.21 U.S. a barrel
Gold prices fell $1.90 to $1,143.80 U.S. an ounce.
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