Futures for Canada’s resources-heavy main stock index rose slightly on Thursday as oil prices recouped early losses, while a sharp drop in gold kept gains in check after hawkish Federal Reserve commentary.
The TSX Composite unloaded 131.81 points to conclude Wednesday’s session at 19,891.65.
December futures on the S&P/TSX index were up 0.1% Thursday morning.
The Canadian dollar faltered 0.24 cents to 73.55 cents U.S.
Among single stocks to look out for, TC Energy said on Wednesday it was resuming operations in a section of its Keystone pipeline a week after a leak in rural Kansas triggered a shutdown.
Danish brewer Carlsberg said it had agreed to buy Canadian Waterloo Brewing for around $144 million in cash.
In things macroeconomic, Canada Mortgage and Housing Corporation says housing starts the trend in housing starts was 267,365 units in November, up from 264,583 units in October. The Canadian Real Estate Association was set to release MLS stats for November Thursday morning.
ON BAYSTREET
The TSX Venture Exchange gained 1.2 points Wednesday to 575.47.
ON WALLSTREET
Stock futures were sharply lower Thursday as investors feared the Federal Reserve’s latest policy update could tip the economy into a recession.
Futures for the Dow Jones Industrials sank 249 points, or 0.7%, early Thursday to 33,990.
Futures for the S&P 500 fell 36.5 points, or 0.9%, to 3,994.
Futures for the NASDAQ Composite cratered 137.5 points, or 1.2%, to 11,731.50.
Tesla shares fell more than 2% in the pre-market after CEO Elon Musk sold a chunk of his stake in the company.
Western Digital shares fell more than 4% in the pre-market after a downgrade to sell from Goldman Sachs.
Shares of Lennar fell more than 2% in extended trading following the homebuilder’s quarterly financial results.
Investors will get another batch of economic data to digest Thursday. Retail sales, jobless claims and Philadelphia Fed manufacturing index were all due out at 8:30 a.m. ET.
In Japan, the Nikkei 225 staggered 0.4% Thursday, while in Hong Kong, the Hang Seng Index tumbled 1.6%.
Oil prices gained five cents to $77.33 U.S. a barrel.
Gold prices lost $31.10 to $1,787.60 U.S. an ounce.