Futures for Canada's main stock index rose on Thursday on higher gold prices and as global stocks steadied as a dip in oil prices calmed investor nerves about surging inflation and aggressive policy tightening.
The S&P/TSX flirted with plus territory by the closing bell Wednesday but concluded downward 15.62 points to 20,713.72.
June futures were up 0.3% Thursday.
The Canadian dollar nicked up 0.12 cents to 79.06 cents U.S.
CIBC raised the target price on Jamieson Wellness to $45.00 from $42.00
CIBC raised the target price on Vermilion Energy to $32.00 from $25.00
ATB Capital Markets raised the target price on WSP Global to $170.00 from $160.00.
On the economic calendar, Statistics Canada reported the total value of building permits in Canada declined 0.6% in April to $11.7 billion.
Decreases in residential permits (-3.3%) were mostly offset by gains in the non-residential sector (+5.0%).
ON BAYSTREET
The TSX Venture Exchange stumbled 15 points, or 2.1%, Wednesday to 705.98.
ON WALLSTREET
U.S. stock futures were higher on Thursday as markets looked to bounce back from two days of losses.
Futures for the Dow Jones Industrials climbed 140 points, or 0.4%, Thursday to 32,938.
Futures for the S&P 500 hiked 21.5 points, or 0.5%, to 4,120.50.
Futures for the NASDAQ Composite index jumped 81.5 points, or 0.7%, to 12,632.50.
Travel shares that would benefit the most from falling fuel prices rose in premarket trading. Shares of American Airlines and Carnival Corp each gained about 1%.
Investors also parsed through corporate earnings results. Shares of pet retailer Chewy surged roughly 18% pre-market after the company reported strong quarterly results.
Meanwhile, Hewlett Packard Enterprise fell nearly 5% following slight misses on both earnings and revenue.
Retail earnings continue this week, with Designer Brands, Lululemon Athletica and RH set to report on Thursday. Big tech names like CrowdStrike and Okta are also on deck.
ADP posted data from its national employment on Thursday, saying private payrolls increased just 128,000 in May, the slowest growth of the recent post-pandemic recovery. The U.S. Department of Labor is poised to release weekly jobless claims soon after.
In Japan, the Nikkei 225 dipped 0.2% Thursday. In Hong Kong, the Hang Seng withered 1%.
Oil prices gave back $2.85 to $112.41 U.S. a barrel.
Gold prices acquired $11.50 to $1,860.20 U.S. an ounce.
