Futures for stocks in Canada’s largest centre were subdued on Thursday, as gains were limited by concerns over renewed coronavirus lockdowns in Europe.
The TSX lost 41.51 points to conclude the session Wednesday at 18,628.29
The Canadian dollar eked higher 0.09 cents at 79.55 cents U.S.
June futures inched up 0.2% Thursday.
CIBC raised the target price on Automotive Properties REIT to $12.50 from $11.00
CIBC raises target price on Boyd Group Services to $250.00 from $239.00
CIBC raised the target price on George Weston to $131.00 from $122.00
Ontario forecast on Wednesday its budget deficit would narrow in the upcoming fiscal year and return to balance in 2029-30 as the economy rebounds from the coronavirus crisis.
ON BAYSTREET
The TSX Venture Exchange tumbled 20.31 points Wednesday, or 2.1%, to 946.51
ON WALLSTREET
Stock futures gave up a small gain and turned red in early morning Thursday as the market continued to struggle in recent weeks.
Futures for the Dow Jones Industrials collapsed 58 points, or 0.2%, to 32,261.
Norwegian Cruise Line dropped 4.9%, while Royal Caribbean docked 1.9%, and Carnival fell 2.8%. Delta and United Airlines also ended the day lower.
Futures for the S&P waned 6.75 points or 0.2%, to 3,874.
The NASDAQ Composite index slipped 24.5 points, or 0.2%, to 12,772. Wednesday, Apple, Facebook and Netflix all slid more than 2%, while Tesla fell 4.8%.
The rollover in futures came as Federal Reserve Chairman Jerome Powell hinted at one day starting to remove the stimulus that has boosted the market during the pandemic.
Powell said congressional stimulus and accelerated vaccine distribution has allowed the economy to recover faster than expected. At some point, that will allow the Fed to start pulling back on the help it has provided.
Investors will on Thursday pore over the U.S. Labor Department’s latest report on jobless claims. The department is expected to report that 735,000 Americans filed for unemployment last week.
Overseas, in Japan, the Nikkei 225 recovered 1.1% Thursday, while in Hong Kong, the Hang Seng fell short 0.1%.
Oil prices slid $1.30 to $59.88 U.S. a barrel.
Gold prices floundered $3.50 to $1,729.70 U.S.
