Lower Start Foreseen for TSX

Boralex, Fortis in Focus

Futures for Canada's main stock index inched lower on Thursday, a day after hitting a seven-week high, weighed down by weakness in bullion prices as U.S. Treasury yields firmed.

The S&P/TSX Composite charged ahead 120.19 points to conclude Wednesday’s session at 21,395.

The Canadian dollar forged higher 0.15 cents to 80.13 cents U.S.

March futures sank 0.1% Thursday.

CIBC cut the target price on Boralex to $42.00 from $48.00

CIBC raised the target price on Fortis to $61.00 from $58.00

CIBC raised the target price on Keyera to $34.00 from $33.00

Canada’s border agency says this country will allow unvaccinated Canadian truckers to cross in from the United States, reversing a decision requiring all truckers to be inoculated against the coronavirus.

ON BAYSTREET

The TSX Venture Exchange surged 12.85 points, or 1.4%, Wednesday to 923.52.

ON WALLSTREET

U.S. stock futures were slightly positive during early trading on Thursday after the NASDAQ rose for the third session despite a red-hot consumer price index report.

Futures for the Dow Jones Industrials picked up 42 points, or 0.1%, to 36,202.

Futures for the S&P 500 nicked higher 1.75 points to 4,718.

Futures for the NASDAQ acquired seven points to 15,894.25.

In early earnings action, Delta Air Lines posted a beat on profit and revenue and reaffirmed full-year guidance. Shares rose about 1.7% in pre-market trading. Elsewhere, shares of homebuilder KB Home rallied more than 8% in extended trading after reporting better-than-expected earnings.

Analysts expect fourth-quarter earnings to be up 22.4%, but guidance for 2022 from companies will likely be a key determinant for market action.

Elsewhere, Dow component Boeing rose about 3% premarket following a Bloomberg News report that the company’s 737 Max could resume service in China as soon as this month.

The December producer price index, another measure of inflation, is then set to come out on Thursday morning. Economists surveyed by Dow Jones are looking for a 0.4% monthly increase on the headline number and a 0.5% gain after stripping out food and energy prices.

Also on the data front, initial jobless claims for the week ending Jan. 8 will be released at 8:30 a.m. Economists polled by Dow Jones forecast 200,000 people filed for unemployment, down from the previous week’s 207,000.

Markets also will be watching action on Capitol Hill, where Fed Governor Lael Brainard will be heading for her confirmation as vice chairman of the central bank’s policymaking Federal Open Market Committee.

Overseas, in Japan, the Nikkei 225 docked 1%, while the Hang Seng in Hong Kong edged higher 0.1%.

Oil prices slumped 43 cents to $82.21 U.S. a barrel.

Gold prices lost $3.80 to $1,823.50 U.S. an ounce.