(Reuters) – Futures for Canada’s main stock index rose on Thursday, a day after the benchmark index posted its worst session in nearly a month, buoyed by gains in gold prices and prospects of encouraging corporate earnings.
December futures on the S&P/TSX index were up 0.5% at 7 a.m. ET (1100 GMT).
Gold price rose, hovering above $1,800 an ounce as softer U.S. Treasury yields lifted its appeal. [GOL/]
Investors are focused on corporate earnings as companies including major miners and energy producers are scheduled to report later in the day.
The Toronto Stock Exchange’s S&P/TSX composite index ended 1% lower at 20,954.99 on Wednesday, its biggest decline since Sept. 28 after the Bank of Canada signaled it could raise interest rates sooner than previously thought. [.TO]
Dow e-minis were up 78 points, or 0.22% at 7 a.m. ET, while S&P 500 e-minis were up 12 points, or 0.26% and Nasdaq 100 e-minis were up 74.75 points, or 0.48%. [.N]
TOP STORIES [TOP/CAN]
Canadian business jet maker Bombardier Inc posted a smaller second-quarter loss on Thursday, as demand for private jets from corporations and wealthy buyers returned after the pandemic crimped sales last year.
Oil producer Suncor Energy Inc doubled its dividend on Wednesday as a rebound in crude prices from pandemic-driven lows helped it post a third-quarter profit compared with a year-ago loss.
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Allied Properties REIT: National Bank of Canada raises PT to C$52 from C$50
Topaz Energy Corp: ATB Capital Markets raises target price to C$24 from C$22
Trican Well Service Ltd: ATB Capital Markets raises PT to C$4 from C$3.75
COMMODITIES AT 7 a.m. ET
Gold futures: $1800.7; +0.16% [GOL/]
U.S. crude: $81.25; -1.73% [O/R]
Brent crude: $83.28; -1.54% [O/R]
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 GDP advance for Q3 : Expected 2.7%; Prior 6.7%
0830 GDP sales advance for Q3 : Prior 8.1%
0830 GDP cons spending advance for Q3 : Prior 12.0%
0830 GDP deflator advance for Q3 : Expected 5.5%; Prior 6.2%
0830 Core PCE prices advance for Q3 : Expected 4.5%; Prior 6.1%
0830 PCE prices advance for Q3 : Prior 6.5%
0830 Initial jobless claims: Expected 290,000; Prior 290,000
0830 Jobless claim 4-week average : Prior 319,750
0830 Continue jobless claim : Expected 2.415 mln; Prior 2.481 mln
1000 Pending Homes Index for Sep : Prior 119.5
1000 Pending sales change mm for Sep : Expected 0.0%; Prior 8.1%
1100 KC Fed Manufacturing for Oct : Prior 10
1100 KC Fed Composite Index for Oct : Prior 22
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report [.TO]
Canadian dollar and bonds report [CAD/] [CA/]
Reuters global stocks poll for Canada
Canadian markets directory
(Reporting by Amal S in Bengaluru; Editing by Lisa Shumaker)Internet Explorer Channel Network