Futures pointed to a slightly higher start for equities in Canada’s major stock index on Thursday, as investors digested the release of weekly data on U.S. jobless claims.
The S&P/TSX Composite lost 26.19 points to finish Wednesday at 14,775.04. September futures moved up 0.2% Thursday.
The Canadian dollar inched up 0.02 cents to 76.60 cents U.S. early Thursday
The Wall Street Journal reported Wednesday that U.S. prosecutors have opened a criminal investigation into Valeant Pharmaceuticals International over whether it hid from insurers its relationship with a specialty pharmacy that helped boost its drug sales.
Sun Life Financial reported on Wednesday a bigger-than-expected drop in underlying profit for the second quarter.
U.S. Steel Canada rejected on Wednesday a buyout offer from Ontario Steel Investments, a group that includes shareholders of Essar Global, saying it was not considering further proposals by Essar, which had been eliminated from the sale process.
Canaccord Genuity cut the price target on Alamos Gold to $12.50 from $14.00.
Desjardins raised the rating on KP Tissue to buy from hold
On the economic beat, Statistics Canada reported that the new housing price index rose 0.1% in June, following a 0.7% increase in May.
The agency goes on to say that the advance was driven mainly by new housing prices in Toronto and Oshawa and Vancouver, was moderated by decreases in Calgary and Edmonton.
ON BAYSTREET
The TSX Venture Exchange climbed 10.97 points Thursday to 834.47
ON WALLSTREET
U.S. stock futures are sitting tight, little moved from where they left off on Wednesday.
Ahead of the opening bell, futures for the Dow Jones Industrials hiked 43 points or 0.2%, to 18,495, while futures for the S&P 500 gained 4.25 points, or 0.2%, at 2,177. NASDAQ futures took on 11 points, or 0.2%, to 4,792.50
A number of big retail firms are reporting earnings this morning. Macy's, Kohl's and Chinese e-commerce firm Alibaba are releasing results before the opening bell rings.
Expected after the close are Nordstrom, Dillard's, Ruby Tuesday and Planet Fitness.
Shares in Chesapeake Energy are surging in extended trading after it said it was ditching its interest in Barnett Shale in Texas. The company said the move will help boost operating profit and lower costs.
European markets are mixed in early trading, though the moves are muted. Asian markets closed out the day with a mixture of minor losses and gains.
Oil prices sank 24 cents to $41.47 U.S. a barrel
Gold prices slid $2.20 at $1,349.70 U.S. an ounce.
