Stock futures pointed to a lower start for Canada's main stock index on Thursday, taking cues from world markets, which fell due to a week-long selloff in benchmark government bonds, stocks and the dollar and a rise in oil prices.
The S&P/TSX composite index slid 150.05 points, or 1%, to close Wednesday at 15,023.89, with June futures off 0.8%.
The Canadian dollar decreased 0.22 cents to 82.80 U.S. early Thursday.
On the economic slate, Statistics Canada came out with building permits news this morning, which reported that the total value rose 11.6% from a month earlier to $6.9 billion in March. This was the first increase in three months.
The agency goes on to say higher construction intentions for non-residential buildings in British Columbia and Alberta, and for multi-family dwellings in Ontario and B.C. were responsible for much of the advance.
ON BAYSTREET
The TSX Venture Exchange moved down 9.75 points Wednesday to 687
ON WALLSTREET
U.S. stock futures are in the red, but the move is relatively small.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped 17 points, or 0.1%, to 17,761. Futures for the S&P 500 fell 1.5 points, or 0.1%, to 2,072.75, and futures for the NASDAQ dropped 4.5 points, or 0.1%, to 4,368.50
The chair of the Federal Reserve, Janet Yellen, reportedly said Wednesday that valuations in the stock market were "quite high." Yellen was speaking at a public question-and-answer session in Washington.
Investors responded by hitting the "sell button."
Shares in Keurig Green Mountain were declining by about 12% in extended trading after the company reported that sales of its brewing machines and accessories tumbled 23% in the first quarter, compared to the year before.
Shares in Whole Foods are also off by 12% pre-market after the high-end grocery chain reported quarterly results that missed market expectations.
On the flip side, Tesla stock is edging higher after the firm reported a smaller-than-expected loss in the first quarter. CEO Elon Musk also said Wednesday he's seeing strong orders for the company's new home batteries.
A number of large companies are reporting earnings this morning.Alibaba, SeaWorld Entertainment, Kate Spade and Molson Coors are among the firms reporting ahead of the open.
CBS and Crocs will report after the close.
Nearly all European markets are pushing lower in early trading, with many markets sinking by more than 1%.
The FTSE 100 in London is also declining along with the crowd. The U.K. general election is being held Thursday and polling stations are now open.
Asian markets ended with significant losses. All of the main indexes in China are off by 1% to 3%.
Oil prices took on 14 cents to $61.07 U.S. a barrel
Gold prices slid $5.60 to $1,184.70 U.S. an ounce.
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