Futures pointed to a higher opening for equity markets in Toronto on Thursday, a day after the U.S. Federal Reserve suggested a less aggressive timeline for raising interest rates even as it opened the door for the first hike in almost a decade.
The S&P/TSX composite index regained 63.71 points to close Wednesday at 14,962.24, with June futures up 0.2% Thursday.
The Canadian dollar fell 0.74 cents to 78.69 cents U.S. early Thursday.
National Bank Financial cut the target price on RMP Energy Inc. to $6.00 from $6.50
Canaccord Genuity raised the target price on WSP Global Inc to $45.00 from $40.00
RBC cut the price target on Yamana Gold to $5.50 from $6.50
ON BAYSTREET
The TSX Venture Exchange regained 7.15 points Wednesday to 666.36
ON WALLSTREET
U.S. stock futures are edging down after markets posted big gains Wednesday. The runup was inspired by comments from the U.S. Federal Reserve indicating it will take a slow and steady approach to rate hikes.
Ahead of the opening bell, futures for the Dow Jones Industrials faded 28 points, or 0.2%, to 17,961. Futures for the S&P 500 eked back 3.25 points, or 0.2%, to 2,089.25, and futures for the NASDAQ moved down 0.25 points to 4,420.
Shares in Apple could see higher than normal trading volume Thursday as the company joins the Dow Jones Industrial Average.
Apple is the largest company in the world based on market capitalization, but it took a long time for it to be included in the benchmark index.
Shares in oil services groups are declining pre-market in reaction to a further 3% slump in crude oil futures, which are now trading around $43 per barrel. Transocean, Halliburton and Schlumberger are all off by more than 1%.
Shares in eBay are declining by about 2.5% pre-market, slipping back from an all-time high set earlier this month.
Target is trying to make amends with customers who suffered from a 2013 data breach. It's offering to pay up to $10,000 U.S. per person in damages. The proposal is part of a $10-million U.S. offer by Target to settle a class action lawsuit.
Shares in the company were flat ahead of the open.
Nike is the main company reporting earnings Thursday. It releases results after the close.
On the economic side, the U.S. government will post weekly jobless claims this morning.
European markets are taking their cue from the strong performance on Wall Street. Nearly all the major indexes are moving up in early trading. The majority of Asian markets also closed with gains.
Oil prices slid $1.58 to $43.08 U.S. a barrel
Gold prices gained $13.90 to $1,165.20 U.S. an ounce.
