Futures for Canada's main stock index fell on Thursday, tracking losses in commodity prices from fears over weakening demand in top consumer China.
The TSX Composite fell 36.82 points to close Wednesday’s session at 19,957.96.
December futures on the S&P/TSX index ducked 0.5%.
Among stocks, TC Energy said that the weather-related issues that prompted the Calgary-based firm to halt deliveries this week through its Keystone oil pipeline have been resolved.
ON BAYSTREET
The TSX Venture Exchange remained negative 3.23 points Wednesday to 587.78.
ON WALLSTREET
Stock futures fell Thursday as investors responded to the latest batch of quarterly results and awaited a slew of Federal Reserve speakers.
Futures for the Dow Jones Industrials slumbered 217 points, or 0.7%, to 33,374.
Futures for the S&P 500 faded 27.25 points, or 0.7%, to 3,941.25.
Futures for the NASDAQ Composite tumbled 75.5 points, or 0.6%, to 11,664.
Retailer Bath & Body Works jumped more than 20% after it beat revenue expectations and doubled what was anticipated for per-share earnings. Cisco was up more than 3% after beating both earnings and revenue estimates. Macy’s popped 8% after surpassing expectations in its third-quarter results.
The latest moves followed a down day on Wall Street, the second in three days. The S&P 500 shed 0.83% and NASDAQ fell 1.5%. The Dow Jones Industrial Average lost 39.09 points, or 0.12%.
Downward pressure emerged from weak guidance from Target, which reported a decline in sales as inflation pinches shoppers heading into the holiday season. The Minneapolis-based chain ended 13% lower, while its forward guidance cast doubt on other retailers.
Target followed better-than-expected reports earlier in the week from Home Depot, Lowe’s and Walmart, which beat expectations and said inflation was not hitting them as hard.
Investors will also watch Thursday for weekly jobless claims, the latest reports on October housing starts and building permits, and manufacturing surveys from the Philadelphia and Kansas City Federal Reserve banks.
Earnings season continues Thursday with additional retailers, including Kohl’s before the bell and Gap after.
In Japan, the Nikkei 225 fell 0.4% Thursday, while in Hong Kong, the Hang Seng Index lost 1.2%.
Oil prices sank $1.61 to $83.98 U.S. a barrel.
Gold prices receded $7.10 to $1,768.70 U.S. an ounce.
