Futures linked to Canada’s main stock index dipped on Thursday, pressured by a downtick in metal prices, while investors looked ahead to more corporate earnings in the country and the United States.
The TSX Composite Index rose 286.41 points to conclude Wednesday at 23,110.81, an all-time high.
The Canadian dollar fell 0.08 cents to 72.33 cents U.S. .098
September futures slumped 0.6% Thursday.
Canadian Natural Resources beat second-quarter profit estimates as the energy producer benefited from higher crude prices and a rise in output.
Canada Goose Holdings beat quarterly revenue estimates on Thursday, benefiting from consumer demand for its non-winter clothing that includes fleece, sweats and lightweight hoodies.
In the economic field, Markit’s Manufacturing PMI for July will be handed down around 9:30 a.m.
ON BAYSTREET
The TSX Venture Exchange rumbled 9.65 points, or 1.7%, Wednesday to 582.58.
ON WALLSTREET
Stock futures rose Thursday as investors weighed the latest corporate earnings reports, including strong results from Meta Platforms.
Futures for the Dow Jones Industrials eked higher 10 points to 41,083.
Futures for the S&P 500 index took on 27 points, or 0.5%, at 5,584.25
Futures for the NASDAQ raced higher 114.25 points, or 0.6%, to 19,620.50.
Meta Platforms rallied 7% on stronger-than-expected second-quarter results and upbeat guidance. Arm Holdings shed 10% after offering an underwhelming current-quarter guide.
Stocks are coming off a winning session that saw the S&P 500 rally 1.6% for its best day since February. The NASDAQ popped more than 2%, while the Dow closed slightly higher.
Those gains came as Federal Reserve Chair Jerome Powell signaled the central bank could cut at its next meeting if the data continues supporting the narrative that inflation is easing. The Fed held interest rates steady.
In Japan, the Nikkei 225 docked 2.5% Thursday, while in Hong Kong, the Hang Seng index dipped 0.2%.
Oil prices added 55 cents to $78.46 U.S. a barrel.
Gold prices brightened $4.10 to $2,481.10
