Futures for Canada's main stock index fell on Thursday after the U.S. Federal Reserve's June meeting minutes fueled rate hike concerns, while a decline in copper prices further dented sentiment.
The TSX stumbled 100.98 points to close Wednesday at 20,103.89.
September futures plummeted 0.7% Wednesday.
The Canadian dollar gave up 0.1 cents to 75.28 cents U.S.
Abu Dhabi state holding firm ADQ and Canada's Bank of Montreal said in a joint statement that they plan to acquire minority equity stakes in asset manager Sagard.
Bausch + Lomb said it has acquired Johnson & Johnson's eye and contact lens drops for $106.5 million in an all-cash deal.
CIBC upgraded Information Services Corp to "outperform" from "neutral".
On the economic schedule Thursday, Statistics Canada said Canada’s international merchandise trade rose 3.0% in May, while exports decreased 3.8%. With imports and exports posting strong variations in opposite directions, Canada's merchandise trade balance went from a $894 million surplus in April to a $3.4 billion deficit in May.
ON BAYSTREET
The TSX Venture Exchange fell 3.78 points Wednesday to 622.81.
ON WALLSTREET
Stock futures fell Thursday following a losing session on Wall Street, as traders continued to weigh the outlook for Federal Reserve monetary policy.
Futures for the Dow Jones Industrials lost 136 points, or 0.4%, to 34,368.
Futures for the S&P 500 dipped 18 points, or 0.4%, to 4,465.75.
Futures for the NASDAQ slipped 59.25 points, or 0.4%, to 15,301.50.
JetBlue Airways slipped 1.2% in the pre-market after the company announced it would end its partnership in the northeast U.S. with American Airlines to focus on Spirit Airlines. American shares moved 1% lower, while Spirit added 2.9%.
Meta Platforms stock climbed roughly 2% in premarket trading on Thursday after the launch of Threads, its rival platform to Twitter.
Threads went live on Wednesday, with Meta CEO Mark Zuckerberg and Meta seemingly seeking to sway Twitter users frustrated with Elon
Musk’s changes to the platform to jump ship.
Wall Street also combed through minutes from June’s Federal Reserve policy meeting, where members opted to skip a hike. The latest findings showed that most officials would support more increases ahead.
As of late Wednesday, traders are pricing in a nearly 89% chance of a hike at the central bank’s meeting this month, according to CME Group’s FedWatch tool.
Given this setup, investors aggressively positioned in this market for their time horizon or risk appetite may want to use periods of strength to take profits, he said.
The shortened trading week continues Thursday with a slew of fresh economic data points, including ADP private payrolls data for June and initial jobless claims. A reading of S&P Global services PMI and ISM services PMI are also on deck.
In Japan, the Nikkei 225 waned 1.7% Thursday, while markets in Hong Kong collapsed 3%
Oil prices gained 33 cents to $72.12 U.S. a barrel.
Gold prices hiked four dollars to $1,931.10. U.S. an ounce.
