Futures on Canada’s main stock index edged lower tracked its U.S. counterparts as investors consolidated positions ahead of a suspenseful U.S. Federal Reserve interest rate decision.
The S&P/TSX composite index leaped 301.07 points, or 2.2%, to end Wednesday at 13,763.78
The Canadian dollar moved lower 0.12 cents at 75.81 cents U.S. early Thursday
Glencore is in talks with Franco-Nevada, Silver Wheaton., Royal Gold and two other companies to sell portions of the future production of three South American copper mines, two sources with knowledge of the talks said. The so-called streaming deals involve Glencore's Antamina and Antapaccay copper mines in Peru, and its Collahausi mine in Chile.
Alaska could pay $70-$100 million for TransCanada Corp.’s 25% stake in the upstream sector of the proposed Alaska liquefied natural gas project, Governor Bill Walker said.
Walker has recommended to legislators that the U.S. state should buy the upstream stake, adding to a similar stake in a planned liquefaction plant and giving it a quarter share of the giant 20 million tonnes per annum export project.
CIBC cut the target price on Pretium Resources to $10.25 from $11.00 after the company announced it has secured a financing package through a combination of a credit facility
Moreover, Gluskin Sheff + Associates Inc reports Q4 earnings today, expecting to have made 39 cents per share
On the economic slate, Statistics Canada that those drawing regular employment insurance increased by 10.500 in July, up 2.0% to 545,200. On a year-over-year basis, the number of EI beneficiaries increased by 36,100 or 7.1%.
ON BAYSTREET
The TSX Venture Exchange gained 4.95 points Wednesday to 553.92
ON WALLSTREET
U.S. stock futures are dipping down following a two-day rally, partly fueled by expectations that the Fed won't move this month.
Ahead of the opening bell, futures for the Dow Jones Industrials slid 37 points, or 0.2%, to 16,627, futures for the S&P 500 sank 5.25 points, or 0.3%, to 1,982.75, and futures for the NASDAQ dropped 8.75 points, or 0.2%, to 4,372.25.
Shares in Cablevision are up about 16% pre-market after the cable operator announced it is being bought by Altice, a European telecommunications company.
Altice has agreed to pay $34.90 U.S. a share for Cablevision, making the deal worth $17.7 billion U.S. including debt. The price represents a 22% premium over Cablevision's closing price Wednesday.
Shares in Expedia and Orbitz look set to pop at the open after the companies got clearance from the U.S. Justice Department to go ahead with their merger.
Shares in Air Products and Chemicals are up about 3% in extended trading after the company said it will spin off its material technology unit in a tax-free deal.
Oracle shares look set to dip when trading begins after the company reported earnings on Wednesday evening.
Soccer powerhouse Manchester United is reporting earnings ahead of the open along with Rite Aid and Marcus.
Adobe will report this afternoon.
On the economic front, the U.S. Department of Labor will release its weekly jobless claims report this morning, around the same time as
the August report on home construction from the Census Bureau.
Traders across the U.S. and overseas are monitoring the Fed closely as its monetary policy committee prepares to announce its biggest decision in a long time. The Fed must decide whether the U.S. economy is healthy enough for the first interest rate hike in nearly a decade.
Expect the news at 2 p.m. ET, and brace for a swift market reaction.
European markets are mostly heading lower in early trading, while Asian markets ended with mixed results.
Oil prices skidded 54 cents to $46.61 U.S. a barrel
Gold prices lost three dollars to $1,116 U.S. an ounce.
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