– Futures Flat Thursday

Futures for Canada’s resource-heavy main stock index rose in volatile trade on Thursday as crude oil prices rose, as investors awaited key US data to gauge the outlook for interest rates. interest.

The TSX Composite remained positive at 182.75 points, or nearly 1%, to greet Wednesday’s closing bell at 19,279.76.
December futures rose 0.1% on Thursday.

The Canadian dollar shed 0.35 cents to 73.95 cents US

Among individual stocks, Teck Resources said it agreed to sell its 21.3% stake in the Fort Hills oil sands project to Suncor Energy for $1 billion in cash.

On the economic front, Statistics Canada reported its Survey of Employment, Payrolls and Hours—down 22,200, or 0.1%, in August.


The TSX Venture Exchange ended 0.38 points above the breakeven point on Wednesday at 596.32.


Futures tied to the S&P 500 rose slightly on Thursday, as investors seemed to shrug off disappointing results from the Meta Platforms

Futures for the Dow Jones Industrials jumped 217 points, or 0.7%, to 32,087.

Futures for the S&P 500 fell four points to 3,837.25.

Futures for the NASDAQ Composite fell 74 points, or 0.6%, to 11,372.

For the week, all major averages remained in positive territory, with the Dow and S&P up more than 2% and the NASDAQ about 1% higher. The Dow is on pace for its fourth straight positive week since its five-week streak ended in November 2021.

Shares of parent company Facebook fell 20% in premarket trading on weak fourth-quarter forecasts and disappointing third-quarter earnings. The company also said it will lose more money next year building the metaverse. The report led some analysts to downgrade the stock.

Traders also weighed in on earnings reports from other companies. ServiceNow rose more than 12% after a beat. Ford Motor, meanwhile, fell 2% after the company posted its latest results.

Shares of Comcast and McDonald’s traded up 8% and 2.9%, respectively, following earnings reports that topped expectations before the bell.

Cigarette company Altria Group fell 2.4% after missing expectations on earnings per share and revenue. Big tech gains continue Thursday with results from Amazon and Apple.

Along with earnings, investors have their sights set on an advanced reading of third-quarter gross domestic product that is expected to offer further clues on the state of the US economy.

Weekly preliminary jobless and durable goods claims for September are also due Thursday.

In Japan, the Nikkei 225 was up 0.3% on Thursday, while in Hong Kong, the Hang Seng Index gained 0.7%.

Oil prices rose 61 cents to $88.52 US per barrel.

Gold prices dropped $4.50 to $1,674.70 US per ounce. #Futures #Flat #Thursday #Source Link – Futures Flat Thursday

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