Futures in Bay Street pointed to a lower open on Thursday, after closing flat in the previous session, as lack of clarity about the U.S. Federal Reserve's monetary stimulus program kept inventors on edge.
The S&P/TSX composite index was down 2.89 points to end Wednesday at 12,639.27
The Canadian dollar crept up 0.07 cents, to 96.79 cents U.S. early Thursday
Canadian media outlets reported that Verizon Communications has decided to put off the acquisition of two small Canadian wireless companies until after a government auction of wireless licenses in January.
NBF cut the rating on AgJunction Inc. to underperform from sector perform on expected headwinds well into FY 2014
NBF also upped the target price on Boyd Group Income Fund to $28 from $25 as the company recorded a strong performance in the second quarter
Moreover, NBF hiked the price target on High Arctic Energy Services to $2.75 from $2.50, says the company's dividend appears rock solid and balance sheet is in excellent shape
Finally, NBF raised the target price on Paladin Labs to $69 from $57 to reflect a strong second-quarter, recent corporate developments and a positive outlook
On the economic front, the Canadian Real Estate Association was due out this morning with national home sales figures for July.
ON BAYSTREET
The TSX Venture Exchange gained 1.01 points Wednesday to 926.15
ON WALLSTREET
Stocks look set to slip again Thursday as investors wait for economic reports that could provide more clues on when the U.S. Federal Reserve will start to tighten monetary policy.
Ahead of the opening bell, futures for the Dow Industrials dipped 47 points, or 0.3%, to 15,257. Futures for the S&P 500 subsided 9.30 points, or 0.6%, to 1,672.70, and futures for the NASDAQ slid 21.75 points, or 0.7%, at 3,101.50
On the corporate front, Wal-Mart Stores is set to release its quarterly results before the opening bell Thursday, as is fellow retailer Kohl's
Cisco shares sank in pre-market trading after the network equipment maker revealed plans to cut 4,000 jobs, citing difficult economic conditions.
J.C. Penney shares rose after investment manager George Soros revealed the size of his stake in the embattled retailer.
Economically speaking, the U.S. government will release its weekly report on initial jobless claims, along with a monthly report on consumer prices, a key gauge of inflation.
European markets were weaker in morning trading, taking their cue from U.S. markets and a softer tone in Asia, where markets ended lower on the day.
The Shanghai Composite lost almost 1%, while the Nikkei 225 declined 2.1% as the yen strengthened. Hong Kong's Hang Seng was flat as traders returned from a one-day break following a typhoon on Wednesday.
Oil prices surged 53 cents to $107.38 U.S. a barrel
Gold prices hiked $1.60 to $1,335 U.S. an ounce.
