Futures tracking Canada's stock index ticked higher on Thursday as strong earnings from energy and mining companies lifted sentiment, while lingering Middle East tensions continued to support commodity prices.
The TSX dumped 415.92 points to end Wednesday at 35,333.78.
September futures picked up 0.3% early Thursday.
The Canadian dollar dipped 0.04 cents to 71.20 cents U.S.
Vermilion Energy and Kinross Gold posted higher second-quarter profits amid a flurry of earnings releases from energy and mining companies late Wednesday.
Investors now await quarterly earnings reports from Eldorado Gold and Baytex Energy, among others, due after the bell.
Prime Minister Mark Carney on Wednesday played down the idea of curbing oil supplies to the United States to gain leverage in a trade war, saying that would harm Canada's reputation.
On the economic front, Statistics Canada reports the number of employees receiving pay and benefits from their employer—measured as "payroll employment" in the Survey of Employment, Payrolls and Hours—increased by 24,100 (+0.1%) in May, following an increase of 59,000 (+0.3%) in April and little change in March.
On a year-over-year basis, payroll employment was up by 112,500 (+0.6%) in May.
ON BAYSTREET
The TSX Venture Exchange recovered from session lows, but still lost 8.5 points, or 1% to conclude Wednesday at 858.56.
ON WALLSTREET
U.S. equity futures rose Thursday, as a jump in Microsoft and semiconductors helped futures rebound from the prior day’s selloff when the Federal Reserve decided to hold rates steady.
Futures for the Dow Jones Industrials soared 233 points, or 0.5%, to 51,998.
Futures for the S&P 500 jumped 45.75 points, or 0.6%, to 7,397.
Futures for the NASDAQ Composite popped 365.50 points, or 1.3%, to 27,707.50
Microsoft jumped 8.3% in premarket trading amid growth from its Azure business.
In contrast, Meta Platforms was down 9% ahead of the market open after issuing a soft revenue forecast and a 91% drop in second-quarter free cash flow.
One of the busiest weeks of corporate earnings continues Thursday with Bristol-Myers Squibb set to report before the bell. Amazon, Apple and Coinbase are on deck for after the close.
On Thursday, traders will be watching for weekly jobless claims and the personal consumption expenditures price index reading for June. The Dow Jones consensus calls for headline inflation to have grown at an annual rate of 3.7%.
Excluding volatile energy and food, they anticipate it will have risen 3.3%. The first reading of the second quarter’s real GDP is also due in the morning.
In Japan, the Nikkei 225 gained 0.7% Thursday, while in Hong Kong, the Hang Seng increased 0.2%.
Oil prices doffed 67 cents to $83.79 U.S. a barrel.
Gold prices advanced $36.20 to $4,072.50 U.S an ounce.
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