June futures on the S&P/TSX index were up 0.4% at 7 a.m. ET.
The Toronto Stock Exchange’s S&P/TSX composite index ended up 0.2% Thursday, at 21,834.89. Still, the index was set to suffer its second straight weekly decline on signs that policymakers at the Federal Reserve and European Central Bank would step up their efforts to rein in inflation.
All eyes are now on the Bank of Canada meeting next week, where it is expected to deliver a rare 50 basis point interest rate hike. [BOCWATCH]
Data due at 8:30 a.m. ET on Friday will likely show the Canadian economy added 80,000 jobs last month after posting a massive addition of 336,600 jobs in February.
Meanwhile, Russia gave its bleakest take on Ukraine’s six-week war, describing the “tragedy” of mounting troop losses and the economic pain of sanctions, while the Kremlin said “the Russia’s ‘special operation’ in Ukraine could end in the ‘foreseeable future’.
The Dow e-minis were up 128 points, or 0.37% at 7:00 a.m. ET, while the S&P 500 e-minis were up 13.75 points, or 0.31% and the Nasdaq 100 were up 49.75 points, or 0.34%. [.N]
TOP STORIES [TOP/CAN]
Canada’s Liberals put booming housing markets in their sights Thursday, introducing a budget aimed at boosting housing affordability amid soaring inflation, while promising modest new spending to spur average growth. term.
Shopify Inc has introduced changes to its employee compensation plans, giving them more flexibility between cash and stock components, The Globe and Mail reported.
ANALYSTS RESEARCH HIGHLIGHTS [RCH/CA]
Copperleaf Technologies: National Bank of Canada initiates with an outperform rating and a PT of C$20.
Diversified Royalty Corp: CIBC Reduces Neutral Outperformance Rating
Victoria Gold Corp: CIBC lowers target price from C$23 to C$21.
AMENITIES 7:00 a.m. ET
Gold futures: $1,933.4; -0.1% [GOL/]
US Crude Oil: $96.17; +0.2% [O/R].
Brent Crude Oil: $100.53; -0.1% [O/R].
MAIN AMERICAN ECONOMIC DATA EXPECTED ON FRIDAY
1000 Wholesale Stocks, R mm for Fv: expected 2.1%; previous 2.1%.
FOR NEWS FROM CANADIAN MARKETS, CLICK ON THE CODES:
TSX Market Report [.TO]
Canadian dollar and bond report [.CAD/] [CA/].
Reuters Global Equity Survey for Canada
Canadian Markets Directory
($1= C$1.26)