Stock futures pointed to a lower opening for Canada's main equity index on Thursday, as concerns about uncertainty over an escalating trade war between China and the United States eclipsed optimism around the U.S.-Mexico trade deal.
The S&P/TSX Composite Index gained 34.75 points to Wednesday at 16,390.29
The Canadian dollar fell 0.1 cents to 77.35 cents U.S. early Thursday
September futures skidded 0.3% Thursday
Toronto-Dominion Bank reported third-quarter results which topped market expectations, helped by a sharp rise in earnings from the United States.
Tahoe Resources said on Wednesday that it believed there was an attempt to illegally extract gold at its La Arena mine in Peru.
Eight Capital raised the rating on Journey Energy to buy from neutral and price target to $3.15 from $2.25
Barclays raised the target price on National Bank of Canada to $69.00 from $67.00
Berenberg cut the target price on Thomson Reuters to $44.00 from $45.00
On the economic beat, Statistics Canada reported Thursday that gross domestic product was essentially unchanged in June, following a 0.5% gain in May. Increases in 12 of the 20 industrial sectors were tempered by reduced output in non-conventional oil extraction and lower activity in wholesale and retail trade.
The average weekly non-farm earnings of Canadians were $1,000 in June, little changed from the previous month. Compared with 12 months earlier, earnings increased 2.8%.
ON BAYSTREET
The TSX Venture Exchange added 10.16 points, or 1.4%, Wednesday to 726.95
ON WALLSTREET
U.S. stock index futures slipped into the red ahead of Thursday's open, as investors kept abreast of trade discussions between the United States, Mexico and Canada.
Futures for the Dow Jones Industrials lost 58 points, or 0.2%, to 26,089
S&P 500 futures slid 3.25 points, or 0.1%, to 2,911.50, while futures for the NASDAQ composite dropped 9.75 points, or 0.1%, to 7,659
In corporate news, Toronto-Dominion Bank, Campbell Soup, Dollar General, Dollar Tree, Abercrombie & Fitch, Lululemon Athletica, Ulta Beauty, Ambarella and American Outdoor Brands are all expected to publish their latest earnings reports.
In data, jobless claims, personal income and outlays, and core personal consumption expenditure (PCE) figures were all due to be released this morning.
Overseas, in Japan, the Nikkei 225 eked higher 0.1% while in Hong Kong, the Hang Seng index faltered 0.9%.
Oil prices improved 50 cents to $70.01 U.S. a barrel.
Gold prices dropped 50 cents to $1,211.00 U.S. an ounce.
Related Stories
