Futures for Canada's resource-heavy main stock index edged higher for the third straight session on Thursday tracking oil prices.
The TSX popped 145.06 points to conclude Wednesday at 19,588.83.
Futures on the S&P/TSX index nicked higher 0.1% Thursday morning.
The Canadian dollar faded 0.08 cents to 74.07 cents U.S.
On the economic slate, Statistics Canada reported our international merchandise trade decreased 2.3% in November, while imports were down 2.1%. As a result, Canada's merchandise trade balance with the world went from a surplus of $130 million in October to a deficit of $41 million in November.
ON BAYSTREET
The TSX Venture Exchange sprang up 5.89 points, or 1%, to close Wednesday at 573.06.
ON WALLSTREET
Stock futures wavered Thursday as investors looked beyond the hawkishness of the Federal Reserve’s meeting minutes and toward labor data coming later this week.
Futures for the Dow Jones Industrials dropped 14 points early Thursday to 33,402.
Futures for the S&P 500 squirted one point higher to 3,875.50.
Futures for the NASDAQ Composite gained 13.75 points, or 0.1%, to 11,013.
Meanwhile, the minutes from the Fed’s December meeting showed the central bank remained committed to higher interest rates for “some time.”
Investors have “wounds that are still fresh” following 2022, which brought the worst year for the stock market since 2008, said Keith
Buchanan, a portfolio manager at GLOBALT Investments. He said investors are attempting to balance what each new piece of economic data or Fed commentary can indicate with broader concerns about the future.
The recent news that Amazon will layoff some 18,000 employees could boost sentiment around management’s focus, according to analysts at Bank of America.
Shares of Silvergate Capital were under pressure after The Wall Street Journal reported the company sold assets at a loss to cover more than $8 billion in withdrawals after the FTX implosion late last year.
Still, some investors were likely hoping for deeper cuts. The firm has a buy rating and a $137 price target on Amazon.
In Japan, the Nikkei 225 moved ahead 0.4% Thursday, while in Hong Kong, the Hang Seng Index advanced 1.3%.
Oil prices recovered $1.43 to $74.27 U.S. a barrel.
Gold prices fell $8.50 to $1,850.50 U.S. an ounce.
