Futures tied to Canada’s main stock index fell on Thursday as uninspiring earnings from U.S. tech giants dampened market sentiment, ahead of key domestic GDP and U.S. economic data later in the day.
The TSX fell 54.76 points Wednesday to 24,507.79.
December futures were off 0.3% Thursday.
The Canadian dollar shed 0.02 cents to 71.87 cents U.S.
Canadian Natural Resources posted a drop in third-quarter profit due to a decline in production and lower crude prices.
On the economic calendar, Statistics Canada says gross domestic product was essentially unchanged in August as increases in services-producing industries were offset by declines in goods-producing industries.
Elsewhere, other figures showed the number of employees receiving pay and benefits from their employer—measured as “payroll employment” in the Survey of Employment, Payrolls and Hours—was little changed in August (+13,500), following an increase of 39,500 (+0.2%) in July and a decline of 22,900 (-0.1%) in June. On a year-over-year basis, payroll employment was up 176,700 (+1.0%) in August.
ON BAYSTREET
The TSX Venture Exchange subtracted 6.33 points, or 1%, Wednesday to 613.40.
ON WALLSTREET
Stock futures slid on Thursday morning as Wall Street absorbed a fresh batch of earnings reports from megacap technology names.
Futures for the Dow Jones Industrials plunged 195 points, or 0.5%, to 42,168.
Futures for the S&P 500 dumped 36.75 points to 5,815.25.
Futures for the NASDAQ Composite Index weakened 151.75 points, or 0.7%, to 20,383.
In after-hours action, Meta Platforms dropped 3% after missing the Street’s expectations for user growth and warning that capital expenditures will rise in 2025. Microsoft’s revenue guidance disappointed investors, dragging shares nearly 4% lower.
Tech earnings continues on Thursday with results from tech giants Apple and Amazon.
On the economic data front, the weekly jobless claims report as well as the third-quarter reading on the employment cost index also are out on Thursday morning.
In Japan, the Nikkei 225 dawdled 0.5% Thursday, while in Hong Kong, the Hang Seng gave back 0.3%.
Oil prices gained 45 cents to $69.06 U.S. a barrel.
Gold prices dulled $10.10 to $2,790.70.