The Toronto stock market looked set to step back Thursday after a string of gains while prices on commodity markets declined.
The S&P/TSX index gained 50.40 points to end the day at 12,534.45
The Canadian dollar took on 0.51 cents to 99.10 cents U.S. early Thursday.
Meanwhile, Hudson’s Bay Company posted fourth-quarter earnings that were down compared with a year ago as its Lord & Taylor operations in the United States felt the impact of hurricane Sandy. HBC’s net earnings from continuing operations were $93.6 million or 81 cents per share for the 14 weeks ended Feb 28, down $5.6 million from a year ago.
On the economic slate, Statistics Canada reported this morning that its new housing price index jumped 0.2% in February, following a 0.1% increase in January, and similar increases over the second half of 2012.
ON BAYSTREET
The TSX Venture Exchange deducted 9.53 points Wednesday to 1,045.24
ON WALLSTREET
Stock futures were little changed as investors geared up for a fresh batch of economic data and more quarterly results.
Futures for the Dow Industrials climbed 17 points, or 0.1%, to 14,750. Futures for the S&P 500 gained 1.30 points, or 0.1%, to 1,584, but futures for the NASDAQ declined 5.25 points, or 0.2%, to 2,848
Sales at Costco rose 4%, missing forecasts, while Gap reported same-store sales that rose a better-than-expected 3% in the latest month.
Shares of Yum Brands fell 3% in pre-market trading after the restaurant operator revealed that its same-store sales in China dropped in March amid an ongoing food safety scandal.
On the earnings front, drugstore chain Rite Aid swung to a profit in the latest quarter, trouncing forecasts and sending shares up 12% in pre-market trading.
Pier 1 Imports Inc. reported earnings in line with forecasts but issued lower guidance.
The first of the big banks, JPMorgan and Wells Fargo, will report their results ahead of the opening bell Friday.
Shares of PC companies continued to sell off following news that PC sales fell 14% worldwide last quarter. Shares of Microsoft, Intel and Hewlett-Packard were all lower.
The U.S. government was to release its weekly report on initial jobless claims this morning, along with data on import and export prices.
Retailers were also reporting February same-store sales -- a key metric used to gauge consumer spending.
European bourses were positive as London’s FTSE 100 index gained 0.3% while Frankfurt’s DAX and the Paris CAC 40 rose 0.5%.
Earlier in Asia, the Nikkei 225 in Tokyo jumped nearly 2% riding a wave of enthusiasm for the Bank of Japan’s aggressive new approach to stimulating the world’s third-largest economy out of a prolonged slump. That new approach has piled pressure on the yen.
Elsewhere in Asia, South Korea’s Kospi added 0.7%
Oil prices lost 20 cents to $94.44 U.S. a barrel
Gold prices gained $1.80 to $1,560.60 U.S.
