Equity markets in Toronto looked set to open higher on Thursday as investors awaited a flurry of U.S. macroeconomic data including initial and continuing claims, producer price and manufacturing index numbers.
The S&P/TSX composite index dipped 12.76 points to finish Wednesday trading at 13,430.01, with Thursday morning futures up 0.3%.
The Canadian dollar backtracked 0.38 cents to 95.35 cents U.S. early Thursday
Gildan Activewear reported a 9% rise in fourth-quarter profit, helped by lower cotton prices and higher sales in its printwear business.
Niko Resources said CEO Ed Sampson will retire at the end of the calendar year and will be replaced by Frederic Brace on an interim basis from Jan. 1.
Oncolytics Biotech said its lead cancer drug improved survival rates in patients with head-and-neck cancer, compared to those receiving chemotherapy alone.
On the economic slate, Statistics Canada declared that Canadians drawing employment insurance in September dipped by 7,100, or 1.4%, to 503,800.
Compared with September 2012, the number of beneficiaries was down 8.8%.
ON BAYSTREET
The TSX Venture Exchange moved forward 1.68 points Tuesday to 923.47
ON WALLSTREET
Stocks could be in for a choppy session Thursday as investors try to make sense of the latest signals from the U.S. Federal Reserve about its bond-buying program.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 24 points, or 0.2%, to 15,902. Futures for the S&P 500 picked up 5.1 points, or 0.3% to 1,784.50, and futures for the NASDAQ gained 13.5 points, or 0.4%, to 3,380
Target shares took a dive in pre-market trading after the retailer reported a double-digit percentage plunge in quarterly net income.
Shares for Abercrombie & Fitch also dropped, after the retailer reported a quarterly loss and Chief Executive Mike Jeffries said he expects weakness inrevenue to continue into the fourth quarter.
Sears Holdings shares were flat after the retailer reported a deepening quarterly loss on weak sales.
Shares of Green Mountain Coffee Roasters gained following quarterly earnings that beat market expectations.
Investors are waiting for the Senate Banking Committee to vote on Janet Yellen's confirmation at 10 a.m. ET Thursday. Yellen has been nominated to head the Federal Reserve starting in early 2014.
The U.S. government was to release its weekly report on initial jobless claims at 8:30 a.m. ET.
European markets were lower at midday. The CAC 40 in Paris slipped 0.5% after new data showed a contraction in French private sector output in November.
Chinese manufacturing stumbled for the first time in four months, according to HSBC's "flash" measure, which helped send Hong Kong and Shanghai's indexes lower.
But Japan's Nikkei 225 surged almost 2% as the Bank of Japan expressed optimism about the country's recovery and said it would make no changes to its stimulus program
Oil prices added 26 cents to $94.11 U.S. a barrel
Gold prices slid $12.10 to $1,245.90 U.S. an ounce.
