Stock futures pointed to a higher opening for Canada's main stock index on Thursday as investors await U.S. jobless claims data and the European Central Bank's policy decision.
The S&P/TSX composite index closed Wednesday up 78.56 points to 14,459.11. June futures were up 0.07% Thursday.
The Canadian dollar took on 0.10 cents to 90.73 cents U.S. early Thursday
Department store operator Hudson's Bay Co, which bought U.S. luxury chain Saks Inc for $2.4 billion U.S. last year, posted a lower fourth-quarter profit, hurt by higher expenses.
Canada's energy regulator said on Wednesday it would hold hearings on Kinder Morgan Energy Partners LP's proposed expansion of the Trans Mountain oil pipeline from Edmonton to Vancouver, with its review expected to wrap up in mid-2015.
Osisko Mining said on Wednesday that Yamana Gold Inc would buy a 50% stake in its mining and exploration assets for $930 million, a deal that potentially thwarts a hostile bid from Goldcorp
In the economic docket, Statistics Canada reported this morning that this country’s merchandise exports grew 3.6% and imports were up 2.1% in February. As a result, our trade balance with the world swung from a deficit of $337 million in January to a surplus of $290 million in February.
ON BAYSTREET
The TSX Venture Exchange added 5.36 points Wednesday to 1,006.29
ON WALLSTREET
After another record high for the S&P 500 Wednesday, stocks could once again hit new milestones Thursday as investors focus on the European Central Bank and wait for U.S. jobs data due Friday.
Ahead of the opening bell, futures for the Dow Jones Industrials picked up 23 points, or 0.1%, to 16,510. Futures for the S&P 500 nicked lower 0.20 points to 1,882.70, and futures for the NASDAQ fell 1.25 points, to 3,657.
In corporate news, Google issued new shares late Wednesday as part of the tech giant's long-anticipated two-for-one stock split. The new class C shares will begin trading Thursday under the ticker, "GOOG," and will come with no voting rights.
Old Google class A shares will trade under the new symbol "GOOGL," and will retain their voting rights.
Shares of both classes of Google should begin trading at around $570 U.S. -- roughly half the value of Wednesday's closing price.
Tesla stock rose slightly in pre-market trading. The stock surged late Wednesday on news that it's appealing New Jersey's decision to ban direct car sales in the state.
Yelp was down slightly ahead of the market open after the Wall Street Journa lreported that the review site receives around six subpoenas each month, often relating to business owners suing the company. Shares of Yelp fell more than 5% on Wednesday.
Investors are also getting ready for Friday's March jobs report. They'll get another readout on the labour market Thursday when the U.S. Labor Department reports the latest figures on jobless claims.
As widely expected, the ECB said it will keep its key interest rate unchanged at 0.25%. But the central bank is facing growing pressure to do more to stimulate the euro-zone economy as risks of deflation rise and the euro remains strong.
To that end, investors will be listening closely to what ECB President Mario Draghi says in a press conference for clues about whether the ECB will take further steps to prop up the economy.
European markets were mostly lower in afternoon trading following the announcement
Asian markets ended mixed, shrugging off news of a mini-stimulus package in China. After an initial boost, the Shanghai Composite closed 0.7% lower. Hong Kong's Hang Seng finished narrowly firmer
Oil prices docked 10 cents to $99.52 U.S. a barrel
Gold prices dropped $6.90 at $1,283.90 U.S. an ounce.
