TSX futures edge higher as bullion prices gain
2023.03.23 07:50
© Reuters. FILE PHOTO: A sign board displaying Toronto Stock Exchange (TSX) stock information is seen in Toronto June 23, 2014. REUTERS/Mark Blinch
(Reuters) – Futures for Canada’s main stock index were slightly up on Thursday as bullion advanced but lower prices kept a lid on gains for the commodity-heavy bourse.
March futures on the S&P/TSX index were up 0.2% at 7:11 a.m. ET.
On Wednesday, U.S. Federal Reserve Chair Jerome Powell hinted towards a possible pause in monetary tightening in the future, while also noting that credit risks in the world’s largest economy would not bode well for economic growth.
Crude oil prices fell on fears of weakening demand, while safe-haven assets like gold rose. [GOL/] [MET/L] [O/R]
Among company news, business jet maker Bombardier (OTC:) Inc raised its 2025 revenue and free cash flow targets at its investor day, capitalizing on strong demand for private flights.
National Bank of Canada (OTC:) upgraded Boyd Group Services Inc to “outperform” from “sector perform”.
In the previous session, the S&P/TSX composite index ended 0.8% down dragged by losses in financials and energy stocks. ()
were up 66 points, or 0.2% at 7:11 a.m. ET, while were up 19 points, or 0.48% and were up 114.75 points, or 0.9%. [.N]
COMMODITIES AT 7:00 a.m. ET
: $1,980.9; +1.6% [GOL/]
US crude: $70.28; -0.8% [O/R]
: $76.19; -0.7% [O/R]
U.S. ECONOMIC DATA DUE ON THURSDAY
Initial Weekly Jobless Claims due at 8:30 a.m. ET
Feb New Home Sales due at 10:00 a.m. ET
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($1 = 1.3681 Canadian dollars)
