Canada’s main stock index was poised to open lower on Thursday after hitting a three-week high in the prior session, tracking sour global sentiment, although further losses were limited by stronger crude prices.
March futures on the S&P/TSX index were down 0.6% at 6:53 a.m. ET.
A rally for global shares wilted on Thursday as analysts warned of further pain for stocks with no immediate end in sight to the war in Ukraine, even after planned diplomatic talks between Moscow and Kyiv had lent momentum to riskier bets. [MKTS/GLOB]
Meanwhile, oil prices rose after the United Arab Emirates backtracked on statements saying that OPEC and its allies might increase output to help to plug the gap in exports from Russia. [O/R]
Investors were also focused on U.S. consumer price data due later in the day, ahead of the Federal Reserve’s March 15-16 meeting.
The Toronto Stock Exchange’s S&P/TSX composite index ended 1.2% up at 21,493.23 on Wednesday, its highest closing level since Feb. 15. [.TO]
Dow e-minis were down 291 points, or 0.87% at 6:53 a.m. ET, while S&P 500 e-minis were down 34.25 points, or 0.8% and Nasdaq 100 e-minis were down 152.75 points, or 1.11%. [.N]
ANALYST RESEARCH HIGHLIGHTS [RCH/CA]
Canadian National Railway Co: J.P. Morgan resumes coverage with “neutral” rating
Canadian Pacific Railway Ltd: J.P. Morgan resumes coverage with “overweight” rating
Franco-Nevada Corp: CIBC raises target price to C$260 from C$240
TORONTO – Canada’s main stock index was up more than 100 points in late-morning trading, helped by strength in base metal and utility stocks, while U.S. stock markets were mixed.
The S&P/TSX composite index was up 103.40 points at 24,542.48.
In New York, the Dow Jones industrial average was up 192.31 points at 42,932.73. The S&P 500 index was up 7.14 points at 5,822.40, while the Nasdaq composite was down 9.03 points at 18,306.56.
The Canadian dollar traded for 72.61 cents US compared with 72.44 cents US on Tuesday.
The November crude oil contract was down 71 cents at US$69.87 per barrel and the November natural gas contract was down eight cents at US$2.42 per mmBTU.
The December gold contract was up US$7.20 at US$2,686.10 an ounce and the December copper contract was up a penny at US$4.35 a pound.
This report by The Canadian Press was first published Oct. 16, 2024.
TORONTO – Canada’s main stock index was up more than 200 points in late-morning trading, while U.S. stock markets were also headed higher.
The S&P/TSX composite index was up 205.86 points at 24,508.12.
In New York, the Dow Jones industrial average was up 336.62 points at 42,790.74. The S&P 500 index was up 34.19 points at 5,814.24, while the Nasdaq composite was up 60.27 points at 18.342.32.
The Canadian dollar traded for 72.61 cents US compared with 72.71 cents US on Thursday.
The November crude oil contract was down 15 cents at US$75.70 per barrel and the November natural gas contract was down two cents at US$2.65 per mmBTU.
The December gold contract was down US$29.60 at US$2,668.90 an ounce and the December copper contract was up four cents at US$4.47 a pound.
This report by The Canadian Press was first published Oct. 11, 2024.
TORONTO – Canada’s main stock index was little changed in late-morning trading as the financial sector fell, but energy and base metal stocks moved higher.
The S&P/TSX composite index was up 0.05 of a point at 24,224.95.
In New York, the Dow Jones industrial average was down 94.31 points at 42,417.69. The S&P 500 index was down 10.91 points at 5,781.13, while the Nasdaq composite was down 29.59 points at 18,262.03.
The Canadian dollar traded for 72.71 cents US compared with 73.05 cents US on Wednesday.
The November crude oil contract was up US$1.69 at US$74.93 per barrel and the November natural gas contract was up a penny at US$2.67 per mmBTU.
The December gold contract was up US$14.70 at US$2,640.70 an ounce and the December copper contract was up two cents at US$4.42 a pound.
This report by The Canadian Press was first published Oct. 10, 2024.
