Stock futures pointed to a lower opening for Canada's main stock index on Thursday after Federal Reserve Chair Janet Yellen hinted at a potential earlier-than-anticipated increase in interest rates.
The S&P/TSX composite index ended Wednesday down 34.94 points, at 14,334.04, with futures down Thursday off 0.2%.
The Canadian dollar dropped 0.25 cents at 88.69 cents U.S. early Thursday
Alberta Premier Alison Redford said she would resign this weekend from the helm of the oil-rich province following an expenses scandal that sank her party's popularity.
Loral Space & Communications Inc, which holds a majority stake in satellite communications company Telesat Holdings Inc, has selected private equity firm Apax Partners and two Canadian pension funds to negotiate a sale of Telesat, according to sources.
Peru said it was working with Bear Creek Mining to avoid being sued by the company under free trade protections over its suspended silver project.
A record-shattering Canadian harvest, combined with one of the most frigid winters in decades, has created a grain-handling backlog that will not be cleared until next year, the head of Canadian National Railway Co said.
On the economic beat, Statistics Canada reported this morning that 502,500 people received regular Employment Insurance (EI) benefits in January, down 9,900, or 1.9%, from the previous month.
ON BAYSTREET
The TSX Venture Exchange eased 0.08 points Wednesday to 1,038.87
ON WALLSTREET
U.S. stock futures were weakening after Federal Reserve chair Janet Yellen warned that the Fed stimulus program would most likely be finished by the fall and an interest rate hike could follow in early 2015.
Ahead of the opening bell, futures for the Dow Jones Industrials slid 36 points, or 0.2%, to 16,103. Futures for the S&P 500 slipped 3.5 points, or 0.2%, to 1,848.70, and futures for the NASDAQ were down 7.5 points, or 0.2%, at 3,666.75.
In corporate news, Burlington Stores reported a quarterly jump in same-store sales and adjusted net income year-to-year. Nike will report after the close.
Shares of Guess fell in after-hours trading after the apparel maker's revenue forecasts fell below analyst expectations
The U.S. government will also publish jobless claims this morning, and home sales from February will be reported later on.
European markets were moving down in midday trading. Asian markets closed with losses.
Oil prices dropped 37 cents to $100.00 U.S. a barrel
Gold prices skidded $17.80 to $1,323.50 U.S. an ounce.
