Canadian stocks looked set to open little changed on Thursday, underpinned by upbeat Chinese trade data and dovish comments by U.S. Federal Reserve Chair Janet Yellen.
The S&P/TSX composite index gained 44.11 points to end Wednesday at 14,656.40.
The Canadian dollar climbed 0.19 cents to 91.94 cents U.S. early Thursday.
Drug maker Valeant Pharmaceuticals reported a 35% jump in cash earnings, helped by robust drug sales in the United States and in its Bausch & Lomb eyecare business.
Kinross Gold Corp reported a sharp drop in first-quarter net earnings after the close on Wednesday due to weaker bullion prices but its production increased and costs edged lower.
National Bank Financial cut the rating on Intact Financial to sector perform from outperform
On the economic beat, Statistics Canada reported this morning that its New Housing Price Index rose 0.2% in March, following an identical increase in February.
Elsewhere, Canada Mortgage and Housing Corporation reported that there were 17,124 housing starts in April, making for a seasonally-adjusted annual rate of 194,809 units in April, an increase from 156,592 in March.
ON BAYSTREET
The TSX Venture Exchange dropped 4.58 points Wednesday to 1,001.04
ON WALLSTREET
U.S. stocks got a late boost Wednesday from Federal Reserve Chair Janet Yellen's remarks to a congressional panel. Investors will be hoping for a repeat performance Thursday when she appears before a Senate committee.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 27 points, or 0.2%, to 16,495. Futures for the S&P 500 dipped 3.2 points, or 0.2%, at 1,871, and futures for the NASDAQ faded 10.75 points, or 0.3%, to 3,529.75.
On the corporate side, Dish Network reported declines in revenue and net income for the quarter, compared to a year earlier. Priceline and Cablevision will report earnings before the opening bell.Symantec and CBS will report after the close.
Barclays shares rose 6% in pre-market trading after the bank said it would cut 19,000 jobs over the next three years.
Shares in Tesla were declining by roughly 6% in pre-market trading. The company's earnings beat expectations, but Tesla forecast that expenses will continue to rise as it expands into China, develops its next vehicle and breaks ground on a new factory.
Shares in Keurig Green Mountain popped in extended trading after the company posted earnings that beat expectations.
Markets will get the latest update on employment when the U.S. Labor Department publishes initial jobless claims this morning.
European markets were all rising in midday trading by roughly 0.5%.
Nearly all Asian markets closed with gains. The Nikkei index in Japan rose by 0.9%
Oil prices dropped 27 cents to $100.50 U.S. a barrel
Gold prices advanced $3.80 to $1,292.70 U.S. an ounce.
