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Friday, 07 May 2021 11:24 GMT

Futures Down on Oil Prices


(MENAFN - Baystreet.ca) Futures for Canada's main stock index fell on Thursday, weighed down by lower oil prices as a renewed surge in coronavirus infections in some Asian countries raised concerns about demand.
The TSX gained 102.47 points to conclude Wednesday at 19,143.25.
The Canadian dollar inched higher 0.02 cents Thursday at 79.99 cents U.S.
June futures sank 0.2% Thursday.
Toronto-based semiconductor group Alphawave said on Thursday it was planning to apply for a London listing of its shares, adding that the cornerstone agreement with certain investors gave it a valuation of up to $4.5 billion.
Credit Suisse cut the rating on Atco Ltd to neutral from outperform
Scotiabank raised the target price on Metro Inc. to $68.00 from $67.00
CIBC raised the rating on Northland Power to outperform from neutral
In the economic docket, Statistics Canada says new home prices rose 1.1% in March nationally, following one of the largest monthly increases on record in February.
ON BAYSTREET
The TSX Venture Exchange sprang back up again 14.15 points, or 1.6%, Thursday, to 928.91.
ON WALLSTREET
U.S stock index futures were muted in early morning trading on Thursday, largely holding on to the major averages' gains from the Wednesday session.
Futures for the Dow Jones Industrials sank 20 points, or 0.1%, to 33,996.
Futures for the S&P 500 dipped 5.5 points, or 0.1%, to 4,159.25.
Futures for the NASDAQ Composite index fell 32.25 points, or 0.2%, to 13,887.
Stocks rose on Wednesday during regular trading hours, snapping a two-day losing streak, as companies tied to the economy reopening led the way higher. The Dow advanced 316 points, or 0.9%, while the S&P 500 rose 0.9%. The NASDAQ was the relative outperformer of the major indices, rallying 1.2%.
Shares of Southwest Airlines rose 1.6% in pre-market trading after the carrier said leisure travel bookings continue to rise and that it expects to break even "or better" by June. Southwest also posted a narrower-than-expected loss for the first quarter.
American Airlines rallied 3% in early trading after the company said its cash flow turned positive by the end of the quarter, excluding debt payments.
A busy week of earnings season continued on Thursday with a host of companies set to report quarterly results. Intel, Snap, Mattel, Boston Beer and Seagate Technology will report after the market closes.
Economic data released Thursday will give investors a snapshot of the ongoing economic recovery. Initial jobless claims will be released at 8:30 a.m. ET, with economists expecting a print of 603,000, according to estimates from Dow Jones. Existing home sales data will be released at 10 a.m. ET.
Overseas, in Japan, the Nikkei 225 raced 2.4% Thursday, while in Hong Kong, the Hang Seng index movsed ahead 0.5%.
Oil prices lost 34 cents to $61.01 U.S. a barrel.
Gold prices ditched $7.50 to $1,785.60 U.S.









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