Canadian stocks looked set to open little changed on Thursday, a day after the World Bank trimmed its global growth forecast.
The S&P/TSX composite index doffed 10.51 points to begin Thursday at 14,881.62.
The Canadian dollar tacked on 0.12 cents to 92.14 cents U.S.
BRP Inc, the maker of Ski-Doo snowmobiles and Sea-Doo watercraft, reported a 9% rise in quarterly profit due to a foreign exchange gain on long-term debt and lower tax expenses. BRP shares gained 40 cents to $28.90.
Energy stocks provided one of the few bright spots, as Imperial Oil gained 42 cents to $55.37, and Suncor tacked on 86 cents, or nearly 2%, to $45.06.
However, global base metals took it on the chin in the early going, as Teck Resources got punished 56 cents, or 2.4%, to $23.21.
Canadian Agriculture Minister Gerry Ritz lashed out at the United States for acting like a "schoolyard bully" on trade issues, and said he saw more promise in negotiating a bilateral deal with Japan than the more ambitious Trans-Pacific Partnership.
On the economic slate, Statistics Canada reported that its new Housing Price Index rose 0.2% in April, following identical increases in both February and March.
ON BAYSTREET
The TSX Venture Exchange dropped 0.84 points to 988.36
All but three of the 14 Toronto subgroups were lower, as global base metals slid 1%, health-care 0.9%, and telecoms were off 0.8%.
The three gainers proved to be energy, surging 1.3%, gold, jumping 1.1%, and materials, advancing 0.5%.
ON WALLSTREET
Oil prices are up as a Middle East conflict escalates, and the markets are sliding.
The Dow Jones Industrials fell 49.31 points to open Thursday at 16,794.57
The S&P 500 shed 6.43 points to 1,937.46, and the NASDAQ composite index slumped 18.34 points to 4,313.59.
Shares of Lululemon plunged after the maker of yoga apparel lowered its outlook for earnings this year. The company's board approved a plan to buy back $450 million U.S. worth of Lulu stock.
Lululemon also announced that chief financial officer, John Currie, will retire at the end of this fiscal year. On Thursday, Chip Wilson, the yogawear company's founder and largest shareholder, said he voted against the re-election of two of the company's board members.
Restoration Hardware shares soared after the company reported earnings that beat analyst expectations. It's the latest luxury brand benefiting from increased consumer spending at the high end.
Meanwhile, shares in fashion house Michael Kors were higher and Exelon shares were under pressure.
Infosys slid on news that a new CEO was appointed to lead the IT services company.
Twitter shares jumped over 4% after the social media company said its chief operating officer, Ali Rowghani, had resigned.
The U.S. government said retail sales rose 0.3% in May, falling short of what economists had forecast. Separately, the number of Americans filing first-time unemployment claims rose more than expected, according to the U.S. Labor Department's weekly report.
Oil prices jumped more than 1% this morning after Islamist militants in Iraq took control of the nation's second-largest city. Crude futures on the New York Mercantile Exchange were trading above $106 U.S. per barrel, a high not seen since Sept. 2013.
The brazen attack by fighters from a group called ISIS is making commodity traders nervous as they consider how the turmoil could affect the country's large oil-producing areas.
Prices for 10-year U.S. Treasuries were higher, lowering yields to 2.63% from Wednesday’s 2.64%. Treasury prices and yields move in opposite directions
Oil prices gushed $1.39 to $105.79 U.S. a barrel.
Gold prices raced ahead five dollars at $1,266.20 U.S. an ounce.
