Negative Open in Store for TSX

Futures for Canada's main stock index slipped on Thursday, as gloomy forecasts from some U.S. companies soured global sentiment and offset a jump in commodity prices after the U.S. Federal Reserve raised hopes of slowing its monetary policy tightening.

The TSX jumped 281.88 points, or 1.5%, to end Wednesday at 19,254.56.

Futures for the TSX lost 0.2% Thursday.

The Canadian dollar dipped 0.02 cents to 77.99 cents U.S.

On the economic calendar, Statistics Canada reported the number of employees receiving pay or benefits from their employer decreased by 26,100 (or 0.1%) in May, the first decline since May 2021

ON BAYSTREET

The TSX Venture Exchange recovered 14.48 points, or 2.4%, Wednesday to 619.76.

ON WALLSTREET

Stock futures moved lower Thursday after markets staged a major rally in the previous session following another 0.75-percentage-point hike from the Federal Reserve.

Futures for the Dow Jones Industrials settled 69 points, or 0.2%, early Thursday to 32,103.

Futures for the S&P 500 dropped 12 points, or 0.3%, to 4,012.50.

Futures for the NASDAQ Composite retreated 87.5 points, or 0.7%, to 12,531.50.

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Shares of Meta Platforms dipped 5.9% in pre-market trading on the back of disappointing quarterly results, while Ford gained more than 5% after a beat on the top and bottom lines, and as it raised its dividend. Teladoc cratered more than 25% after taking another large goodwill charge.

On the earnings front, investors are looking ahead to results from Apple, Amazon, Intel and Roku slated for after the bell.

The moves come on the heels of a broad-based rally Wednesday after the Fed’s latest monetary policy decision, as investors continued to bet on whether the central bank can halt surging prices without pushing the economy into a recession.

Fed Chair Jerome Powell on Wednesday said during a press conference he does not believe the economy has entered a recession.

Economists surveyed by Dow Jones expect the economy to have barely expanded last quarter after contracting 1.6% in the first.

In Japan, the Nikkei 225 improved 0.4% Thursday. In Hong Kong, however, the Hang Seng fell back 0.2%

Oil prices added $2.37 to $99.63 U.S. a barrel.

Gold prices progressed $19.50 to $1,738.60 U.S. an ounce.

Stocks Futures Fall After Big Wednesday Rally