(Reuters) – Futures for Canada’s main stock index were slightly up on Thursday as bullion advanced but lower crude oil prices kept a lid on gains for the commodity-heavy bourse.
March futures on the S&P/TSX index were up 0.2% at 7:11 a.m. ET.
On Wednesday, U.S. Federal Reserve Chair Jerome Powell hinted towards a possible pause in monetary tightening in the future, while also noting that credit risks in the world’s largest economy would not bode well for economic growth.
Crude oil prices fell on fears of weakening demand, while safe-haven assets like gold rose. [GOL/] [MET/L] [O/R]
Among company news, business jet maker Bombardier Inc raised its 2025 revenue and free cash flow targets at its investor day, capitalizing on strong demand for private flights.
National Bank of Canada upgraded Boyd Group Services Inc to “outperform” from “sector perform”.
In the previous session, the S&P/TSX composite index ended 0.8% down dragged by losses in financials and energy stocks. [.TO]
Dow e-minis were up 66 points, or 0.2% at 7:11 a.m. ET, while S&P 500 e-minis were up 19 points, or 0.48% and Nasdaq 100 e-minis were up 114.75 points, or 0.9%. [.N]
COMMODITIES AT 7:00 a.m. ET
Gold futures: $1,980.9; +1.6% [GOL/]
US crude: $70.28; -0.8% [O/R]
Brent crude: $76.19; -0.7% [O/R]
U.S. ECONOMIC DATA DUE ON THURSDAY
Initial Weekly Jobless Claims due at 8:30 a.m. ET
Feb New Home Sales due at 10:00 a.m. ET
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
($1 = 1.3681 Canadian dollars)
(Reporting by Johann M Cherian in Bengaluru; Editing by Sriraj Kalluvila)
