Futures for equity markets in Canada’s biggest centre were lower on Thursday, dragged down by a drop in oil prices and as new tariffs took effect in the Sino-U.S. trade spat.
The S&P/TSX Composite Index gained 50.37 points to close Wednesday at 16,347.34
The Canadian dollar docked 0.25 cents to 76.71 cents U.S. early Thursday
September futures faded 0.2% Thursday
Canadian Imperial Bank of Commerce reported third-quarter earnings that beat market expectations with the help of strong performances from all its businesses.
Bombardier on Wednesday appointed Danny Di Perna as its aerospace unit's chief operating officer.
Eight Capital raised the price target on Royal Bank Of Canada to $122.00 from $119.00
On the economic beat, Statistics Canada reported that, in June, 460,000 people received regular Employment Insurance benefits, up 3,800, or 0.8%, from May.
ON BAYSTREET
The TSX Venture Exchange gained 6.91 points Wednesday to 698.87
ON WALLSTREET
U.S. stock index futures traded flat Thursday, as the U.S. and China hit one another with a new round of tariffs.
Futures for the Dow Jones Industrials poked up six points to 25,723
S&P 500 futures added 0.5 points to 2,861.75, while futures for the NASDAQ composite dipped 5.75 points, or 0.1%, to 7,427.50
Gap Inc., Hormel Foods and Alibaba are among the firms out with quarterly earnings today.
The U.S. and China held talks on Wednesday that are set to continue into Thursday, but observers did not have high hopes after President Donald Trump said told the media he did not "anticipate much" to be resolved.
Domestic political news also weighed on sentiment, amid legal troubles surrounding Trump's former personal attorney Michael Cohen and ex-campaign manager Paul Manafort. Trump on Wednesday lashed out at Cohen, saying he wouldn't advise seeking the lawyer's services.
The president also suggested a stock market crash if he were ever to be impeached.
Leading central bankers are due to meet for an economic symposium at Jackson Hole in Wyoming on Thursday, where they will discuss the future of monetary policy. Federal Reserve Chair Jerome Powell will address attendees in a speech Friday.
In economic data, weekly jobless claims figures are due at 8:30 a.m. ET, while flash Composite Purchasing Managers' Index (PMI) data are due at 9:45 a.m ET.
Overseas, in Japan, the Nikkei 225 nicked up 0.2% while in Hong Kong, the Hang Seng index faded 0.5%.
Oil prices gained 12 cents to $67.98 U.S. a barrel.
Gold prices fell $6.60 to $1,196.70 U.S. an ounce.
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