Futures Inch Higher with Oil Prices
Futures for Canada's resource-heavy stock index on Thursday ticked higher, tracking crude prices, while investors assessed the path ahead for interest rates after the U.S. Federal Reserve's hawkish tone.
The TSX eased back 0.72 points to finish Wednesday at 19,899.07.
September futures were up 0.2% Thursday.
The Canadian dollar was ahead 0.2 cents to 74.06 cents U.S.
Among company news, India's JSW Steel Ltd is considering picking up a 75% interest in Teck Resources' steelmaking coal business Elk Valley Resources, according to a Bloomberg report.
Economically speaking, Statistics Canada reports Canadian investors acquired $14.4 billion of foreign securities in June, the largest investment in seven months. Meanwhile, foreign investors increased their holdings of Canadian securities by $12.6 billion, following two months of strong investment.
ON BAYSTREET
The TSX Venture Exchange edged up 1.88 points Wednesday to 591.36.
ON WALLSTREET
Stock futures nudged higher Thursday as investors digested the Federal Reserve’s latest commentary that future rate hikes are not out of the picture.
Futures for the Dow Jones Industrials dropped one point to 34,820.
Futures for the S&P 500 grabbed nine points, or 0.2%, to 4,429.
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Futures for the NASDAQ picked up 42.75 points, or 0.3%, to 14,985.
Retail giant Walmart jumped 1.6% in premarket trading after reporting an earnings and revenue beat in the second quarter. The company also raised its full-year guidance and underscored strength in grocery and online sales.
Computer networking company Cisco Systems also gained 2.8% before the bell on a better-than-expected quarterly earnings report.
Meanwhile, Wolfspeed plunged 13% after posting its fiscal fourth-quarter earnings results, which missed expectations on the bottom line.
Investors will watch Thursday for a fresh batch of corporate earnings, with retailers Walmart and Tapestry expected to report before the opening bell, and Ross Stores expected after the close. Applied Materials and Keysight Technologies are also due after market close.
In Japan, the Nikkei 225 index dropped 0.4%, while in Hong Kong, the Hang Seng was weaker by just under three points.
Oil prices sprang up 59 cents to $79.97 U.S. a barrel.
Gold prices took on 70 cents to $1,929 U.S. an ounce.