Futures for stocks in Canada’s largest centre edged higher on Thursday after the United States and Iran retreated from further conflict in the Middle East.
The TSX Composite Index gave back 0.24 points to conclude Wednesday at 17,167.82.
March futures gained 0.3% early Thursday.
The Canadian dollar eked up 0.1 cents to 76.61 cents U.S. early Thursday
Cenovus Energy unveiled plans to reduce per-barrel greenhouse gas emissions by 30% by the end of 2030, as the country's oil industry faces growing pressure from environmental activists.
Barclays cut the rating on EnCana to underweight from equal weight
Wells Fargo upgraded the rating on Hydro One to overweight from equal weight.
Raymond James cut the rating OrganiGram Holdings to market perform from outperform
On the economic front, Canada Mortgage and Housing Corporation's seasonally-adjusted annual rates of housing starts in Canada fell 3% from a month earlier to 197,329 units in December 2019 from an upwardly revised 204,300 in November and missing market estimates of 210,000
Moreover, Statistics Canada reported that building permits’ total value decreased 2.4% to $8.1 billion in November. Declines were reported in six provinces, with the largest decrease in Ontario (-5.7% to $3.2 billion).
ON BAYSTREET
The TSX Venture Exchange dropped 7.56 points Wednesday to 577.91
ON WALLSTREET
U.S. stock index futures were higher Thursday morning as tensions between Iran and the U.S. eased for the time being.
Futures for the Dow Jones Industrials hiked 89 points, or 0.3%, to 28,859.
Futures for the S&P 500 added nine points, or 0.3%, at 3,269.25.
Futures for the NASDAQ Composite climbed 42.5 points, or 0.5%, to 8,987.
In corporate news, Kohl’s shares dropped 6% in the pre-market after issuing earnings guidance to the low end of their fiscal 2019 forecast.
L Brands, meanwhile, slid around 4% after the Victoria’s Secret parent company said it expects fourth-quarter earnings to come in around $1.85 per share, below a previous estimate of $2.
Meanwhile, Bed Bath & Beyond pulled back more than 11% on news it is delaying the closure of 20 stores until fiscal 2020.
On the data front, the latest weekly jobless claims numbers will be released at 8:30 a.m. ET.
Overseas, in Japan, the Nikkei 225 popped 2.3% Thursday, while in Hong Kong, the Hang Seng Index jumped 1.7%.
Oil prices gained 20 cents to $59.81 U.S. a barrel.
Gold prices soared six dollars to $1,554.20 U.S. an ounce.
Futures Take on Strength early Thursday
