Futures tracking Canada's main stock index edged higher on Thursday as investors weighed corporate earnings and stalled U.S.-Iran peace talks, while awaiting U.S. PPI data for clues on the Fed's monetary policy path.
The TSX soared 186.22 points to close Wednesday at 36,662.14, adding to its streak of record closes.
September futures captured 0.2% Thursday.
The Canadian dollar was flat at 71.73 cents U.S.
Stantec late on Wednesday beat second-quarter adjusted profit estimates driven by acquisition growth, while CCL Industries topped second-quarter sales estimates.
Pan American Silver missed quarterly adjusted profit estimates on lower gold output.
Iran and the United States reportedly remained at loggerheads amid efforts to negotiate a permanent end to the Middle East conflict,
ON BAYSTREET
The TSX Venture Exchange jumped 9.29 points, or 1%, Wednesday to 975.87.
ON WALLSTREET
Stock futures edged higher Thursday as oil prices declined and traders awaited more inflation data. Wall Street also weighed a slew of fresh earnings reports.
Futures for the Dow Jones Industrials surged 112 points, or 0.2%, to 53,983.
Futures for the S&P 500 moved higher 14 points, or 0.2%, to 7,784.50
Futures for the NASDAQ Composite captured 28.25 points, or 0.9%, to 29,881.50.
Cisco Systems, Cerebras and Coherent all moved lower in premarket trading after earnings updates overnight. Cerebras plummeted 17.4% ahead of the opening bell, while Cisco was down 5.9%. Coherent was 5.1% lower.
Wall Street will get another look at U.S. inflation on Thursday with the July reading of the U.S. producer price index — which gauges what wholesalers pay for raw goods and materials — set for release at 8:30 a.m. ET. Economists polled by Dow Jones expect an increase of 0.2% from the prior month.
The PPI report comes a day after an in-line reading on the consumer price index.
CPI for July increased by 0.1% month over month, matching expectations. The tame report gave the S&P 500 a boost, with the benchmark closing higher for the first time in three sessions. The report led to traders paring expectations for a rate hike in September.
In Japan, the Nikkei 225 index jumped 1.2%, while in Hong Kong, the Hang Seng slipped 0.2%.
Oil prices reversed $1.86 to $81.41 U.S. a barrel.
Gold prices fell $18.60 to $4,448.9.40 U.S an ounce.
