The Toronto stock market showed some uncertainty ahead of the opening bell, as investors wondered if recent gains could be sustained.
The S&P/TSX composite index finished Wednesday up 0.94 points to 12,825.42
The Canadian dollar faded 0.02 cents to 96.89 cents U.S. early Thursday
On the economic ledger, Statistics Canada reported this morning that its new housing price index rose 0.2% in July, following an identical increase the previous month.
ON BAYSTREET
The TSX Venture Exchange nicked higher 1.38 points to close Wednesday at 944.23
ON WALLSTREET
Markets are staging a mild retreat from near-record highs.
Ahead of the opening bell, futures for the Dow Jones Industrials tacked on six points to 15,336. Futures for the S&P 500 dropped 1.40 points at 1,687.40, and futures for the NASDAQ gained five points, or 0.2%, at 3,183.50
There's not much on the economic or earnings calendar for traders to digest Thursday. The U.S. government's weekly report on initial jobless claims is due out this morning.
In corporate news, yoga-wear producer lululemon announced a jump in quarterly sales and profit, but shares plunged nearly 9% in pre-market trading because the company lowered its guidance for the year.
Shares in Men's Wearhouse plunged 15% pre-market after the company reported disappointing quarterly earnings on Wednesday. Vera Bradley shares sank after the handbag producer offered weak guidance.
Grocery chain Kroger was also set to report quarterly results before the opening bell.
Investors continue to remain wary about the U.S. Federal Reserve, which could decide to cut back on its quantitative easing program this month. The Fed has previously indicated that it was considering scaling back on this massive, liquidity-boosting program, which has supported a big rally in stock markets around the world.
The threat of U.S.-led military strikes against Syria has created a lot of volatility in global markets, though it's looking increasingly likely that a diplomatic resolution may be found.
European indexes dipped lower in morning trading.
Asian markets had a mixed day, with stocks in China edging up while Japan's Nikkei 225 posted a small decline.
Oil prices gained 83 cents to $108.39 U.S. a barrel
Gold prices slid $23.80 to $1,340 U.S. an ounce.
