Canada's main stock index futures were flat on Thursday, with a rise in oil prices to a six-week high limiting losses.
The S&P/TSX Composite Index held onto gains of 11.24 points to end Wednesday’s session at 16,556.45
The Canadian dollar gained 0.09 cents to 76.58 cents U.S. early Thursday
September futures eked up 0.01% Thursday.
Danish cannabis firm StenoCare said it would quarantine more batches of cannabis oil from its partner CannTrust, which has sold products from what Canada's federal health regulator called unlicensed facilities.
CIBC raised the target price on Alimentation Couche Tard to $94.00 from $87.00
CIBC raised the target price on Superior Plus to $16.00 from $14.50
On matters macroeconomic, Statistics Canada’s new housing price index was released for May, and were down 0.1%, after remaining unchanged for three consecutive months.
ON BAYSTREET
The TSX Venture Exchange slid 0.25 points to close Wednesday at 585.23
ON WALLSTREET
U.S. stock index futures rose on Thursday on the back of testimony by Federal Reserve Chairman Jerome Powell that signaled easier monetary policy could be implemented later this month.
Futures for the Dow Jones Industrials gained 104 points, or 0.4%, to 26,964.
Futures for the S&P 500 jumped 6.75 points, or 0.2%, at 3,004.25.
NASDAQ futures improved 20 points, or 0.3%, to 7,848.75
Delta Air Lines and Fastenal Company are among a small clutch of companies reporting earnings Thursday.
In testimony to the House Financial Services Committee on Wednesday, Powell said business investments across the U.S. have slowed "notably" recently as uncertainties over the economic outlook linger. As a result, expectations of an upcoming rate cut grew.
Powell testifies again on Thursday in front of U.S. Senate members. Traders are pricing in a 100% probability of a rate cut before the end of July
Overseas, the Nikkei 225 tacked 0.5% Thursday, while in Hong Kong, the Hang Seng index moved higher 0.8%
Oil prices gained 16 cents to $60.59 U.S. a barrel.
Gold prices hiked $9.80 to $1,422.30 U.S. an ounce.
