Toronto Stock Exchange futures jumped on Thursday as crude oil, copper and precious metal prices gained, while investors looked to key employment and wage inflation data due later in the week.
The TSX settled 45.46 points to close Wednesday at 20,679.54.
March futures on the S&P/TSX index were up 0.6% Thursday morning.
The Canadian dollar gained 0.22 cents to 74.59 cents U.S.
Sun Life Financial reported a rise in fourth-quarter underlying net income.
Investment firm Canaccord Genuity Group Inc reported a decline in third-quarter profit.
Ancora Group Holdings, a key shareholder in U.S. auto retailer IAA, has accumulated a new 0.5% stake in Ritchie Bros Auctioneers and is calling a major opponent of Ritchie’s $6-billion deal to buy IAA “misinformed,” according to documents seen by Reuters.
ON BAYSTREET
The TSX Venture Exchange recovered 2.31 points to 623.45.
ON WALLSTREET
Stock futures rose Thursday as investors took in more big corporate earnings reports.
Futures for the Dow Jones Industrials popped 201 points, or 0.6%, early Thursday to 34,196.
Futures for the S&P 500 acquired 28.5 points, or 0.7%, to 4,159.
Futures for the NASDAQ Composite hiked 129.5 points, or 1%, to 12,674.75.
Several companies reported their quarterly results, including Disney, MGM, Mattel and Affirm. Disney shares gained more than 6% after the company posted smaller-than-expected subscriber losses along with earnings and revenue that beat estimates.
PayPal, Lyft and Expedia will report after the market closes.
Investors have been watching earnings season closely for insight on how companies have fared amid high inflation and clues on how they’re managing going forward. However, this earnings season has been lackluster.
So far, 63% of S&P 500 companies have reported fourth-quarter earnings. Of those companies, 69.5% have beaten analyst expectations, FactSet data shows. That beat rate is below a three-year average of 79%, according to data from The Earnings Scout.
In economic data, traders are also keeping an eye on weekly unemployment claims, due out at 8:30 a.m. ET.
In Japan, the Nikkei 225 index declined 0.1%, while in Hong Kong, the Hang Seng gained 1.6%.
Oil prices docked eight cents to $78.38 U.S. a barrel.
Gold prices gained $3.60 to $1,894.30 U.S. an ounce.