Canada's main stock index futures rose on Thursday on strong corporate earnings.
The TSX Composite Index lost 55.59 points to end Wednesday at 16,335.93
The Canadian dollar slipped 0.04 cents to 76.45 cents U.S. early Thursday
December futures gained 0.2% early Thursday.
Teck Resources beat expectations for quarterly adjusted profit, as strength in its energy and zinc units offset weak base metal prices amid a prolonged U.S.-China trade war.
Canadian Pacific Railway beat analysts' estimates for quarterly profit on Wednesday, driven by lower fuel expenses and higher shipments of coal, crude and fertilizers.
CIBC cut the target price on CP to $325.00 from $327.00
Precision Drilling's loss narrowed for the third-quarter, helped by higher drilling activity across North America, the Canadian company reported.
Agnico Eagle Mines reported a better-than-expected quarterly profit on Wednesday, helped by higher realized gold prices and gold sales volumes at its Meliadine mine in northern Canada.
Husky Energy reported a 50% drop in quarterly profit, as the company's refining margins came under pressure from higher Canadian crude prices fueled by Alberta's mandatory production curbs.
CIBC raised the target price on Genworth MI Canada to $57.00 from $48.00
RBC raised the rating on Rogers Communications to outperform from sector perform.
Economically speaking, Statistics Canada reported that an August, 453,200 people received regular Employment Insurance benefits, virtually unchanged from the previous month.
The agency goes on to say that there were increases in Quebec, of 2.8% and Prince Edward Island, of 1.6%, while there was a 1.4% decrease in Ontario
ON BAYSTREET
The TSX Venture Exchange regained 2.57 points Wednesday to 543.04
ON WALLSTREET
U.S. stock index futures traded slightly higher on Thursday after the release of better-than-expected earnings from tech giant Microsoft.
Futures for the Dow Jones Industrials took on 46 points, or 0.2%, early Thursday to 26,848
Futures for the S&P 500 moved ahead 5.75 points, or 0.2%, at 3,011.50
NASDAQ Composite futures vaulted 46.25 points, or 0.6%, to 7,947.75
Microsoft – nicknamed "Mr. Softee" -- reported earnings per share of $1.38 on revenue of $33.06 billion for the previous quarter. Analysts expected a profit of $1.25 per share on revenue of $32.23 billion.
Microsoft’s strong quarterly performance was driven in part by Azure, its cloud business, which saw revenues grow by 59% on a year-over-year basis.
Tesla shares spiked more than 18% after the electric car maker posted a surprise quarterly profit. The company also told investors its new Shanghai factor is “ready for production.”
Comcast, Dow Inc. and PayPal also traded higher on earnings that beat analyst expectations. Twitter, however, plunged about 20% after posting disappointing earnings.
More than 31% of S&P 500 companies have reported quarterly earnings thus far, with nearly 80% of them posting results that beat analyst estimates.
Amazon, Intel and Visa are among the companies scheduled to report after the bell as investors slog through the busiest day of the earnings season.
Overseas, in Japan, the Nikkei 225 index gained 0.6%, while in Hong Kong, the Hang Seng Index progressed 0.9%,
Oil prices docked 10 cents to $55.87 U.S. a barrel.
Gold prices dipped $1.70 to $1,494.00 U.S. an ounce.
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