Equities in Canada’s largest centre were poised to open lower on Thursday after hitting a three-week high in the prior session, tracking sour global sentiment, although further losses were limited by stronger crude prices.
The S&P/TSX Composite Index surged 261.2 points, or 1.2%, to close Wednesday at 21,493.23.
The Canadian dollar inched downward 0.06 cents to 78.11 cents U.S.
J.P. Morgan resumes coverage on Canadian National Railway with a neutral rating
Also, Morgan resumes coverage on Canadian Pacific Railway with an overweight rating
CIBC raises target price to $260.00 from $240.00
ON BAYSTREET
The TSX Venture Exchange edged ahead 2.47 points to end the midweek session at 851.32.
ON WALLSTREET
Stock futures fell in early trading Thursday as peace talks between Ukraine and Russia showed little progress on key issues.
Futures for the Dow Jones Industrials lost 333 points, or 1%, to 32,932.
Futures for the S&P 500 dropped 46 points, or 1.1%, Thursday to 4,229.25
Futures for the NASDAQ Composite Index faltered 210 points, or 1.5%, to 13,524.75.
Negotiations between Russian and Ukrainian foreign ministers ended with little progs on matters including a cease-fire and safe passage of fleeing civilians.
Markets have been tied closely to the conflict and have been inversely correlated with energy prices, which have been on a tear higher during the Russia-Ukraine war.
Elsewhere in markets, Amazon shares jumped more than 6% in pre-market trading after the company announced a 20-for-one stock split and $10-billion buyback. CrowdStrike rallied nearly 11% premarket following an earnings beat and raising its outlook.
On the earnings front, companies including Oracle, Ulta Beauty and Rivian are set to report quarterly results Thursday.
On the economic slate, the consumer price index will be released at 8:30 a.m. ET, and economists expect headline inflation rose 0.7% last month, or 7.8% from the year prior, and 6.4% excluding energy and food, according to Dow Jones estimates.
Weekly initial jobless claims are also slated to come out Thursday and are expected to total 216,000.
In Asia, the Nikkei 225 index popped 3.9% Thursday, while in Hong Kong, the Hang Seng index gained 1.3%.