Futures for Canada's main stock index rose to a record high on Thursday, driven a volley of solid corporate earnings and an expected jump in demand for commodities from higher potential infrastructure spending in the
United States.
The TSX/S&P Composite advanced 58.27 points to end Wednesday at 20,554.01
The Canadian dollar dropped 0.07 cents to 79.77 cents U.S.
September futures were up 0.1% Thursday.
Canaccord Genuity cut the rating on BSR REIT to hold from buy
National Bank of Canada cut the rating on New Gold to sector perform from outperform
Canaccord Genuity cut the rating on Standard Lithium to hold from speculative buy
ON BAYSTREET
The TSX Venture Exchange revived 3.08 points Wednesday to 924.08.
ON WALLSTREET
U.S. stock futures were mostly flat Thursday after the market shrugged off a jump in consumer prices in the prior session with the Dow Jones Industrial Average and S&P 500 hitting records.
Futures for the Dow Jones Industrials gained 40 points, or 0.1%, to 35,412.
Futures for the S&P 500 eked ahead 2.75 points, or 0.1%, to 4,443.25.
Futures for the NASDAQ Composite Index edged up 11 points, or 0.1%, to 15,030.50.
Dow member Disney will report earnings after the closing bell. The shares, down slightly in 2021, were flat in the pre-market. Micron shares fell 2% in extended trading after Morgan Stanley predicted a slowdown in the memory chip market and downgraded the stock.
Investors are awaiting two key pieces of economic data and one big earnings report from a Dow member on Thursday. At 8:30 a.m. ET, weekly jobless claims are expected to total 375,000, down from 385,000 in the prior week, according to economists polled by Dow Jones.
Also, July producer prices will be released at 8:30 a.m. following Wednesday’s Consumer Price Index data. The PPI is expected to gain 0.6% month-over-month, moderating from June’s 1% pace.
Overseas, in Japan, the Nikkei 225 index faded 0.2%, while in Hong Kong, the Hang Seng index fell 0.5%.
Oil prices fell 41 cents to $68.84 U.S. a barrel.
Gold prices settled 80 cents to $1,752.80 U.S. a pound.
