Futures Higher Thursday

(MENAFN- Baystreet) Stocks Hold Onto Gains

  • Stocks Surge in Toronto
  • Stocks Gain Back Lost Ground
  • Stocks to Continue Their Downward Journey
  • TSX Gives up Ground at Open Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Thursday, April 4, 2024

    Futures Higher Thursday BlackBerry in Focus Futures for Canada's main stock index rose on Thursday, tracking rising copper prices, while solidifying bets of interest rate cuts from the Federal Reserve in the early half of the year further boosted sentiment.
    The TSX Composite moved ahead 37.36 points to conclude Wednesday at 22,112.46.
    June futures gained 0.4% Thursday.
    The Canadian dollar poked up 0.12 cents 74.06 cents U.S.
    In corporate news, software company BlackBerry reported a surprise profit for the fourth quarter on Wednesday, helped by higher demand for its cybersecurity services. Its U.S.-listed shares gained 7.5% in premarket trading.
    On the economic front, In February, exports increased 5.8%, while imports rose 4.6%. As a result, Canada's merchandise trade surplus with the world widened from $608 million in January to $1.4 billion in February.
    The TSX Venture Exchange galloped 14.36 points, or 2.5%, to close Wednesday at 584.88.
    U.S. stock futures rose Wednesday night after the Dow Jones Industrial Average registered its third straight losing session.
    Futures for the 30-stock index gained 95 points, or 0.2%, to 39,577.
    Futures for the S&P 500 added 16.25 points, or 0.3%, to 5,282.75.
    Futures for the NASDAQ Composite jumped 77 points, or 0.4%, to 18,450.25.
    Levi Strauss saw shares jump 8% after it topped first-quarter expectations on the top and bottom lines and lifted its full-year profit guidance.
    Wayfair rose nearly 5% following an Evercore ISI upgrade to outperform from in line.
    Investors' fears that the Federal Reserve may keep rates higher longer have weighed on stocks this week.
    Fed Chairman Jerome Powell said on Wednesday that policymakers will need more proof that inflation is moving toward the central bank's 2% guideline before rates can come down. Atlanta Fed President Raphael Bostic also told reporters he thinks just one cut might be in the cards.
    On the economic front, investors will be looking to initial jobless claims numbers for the week ending March 30. The U.S. trade deficit as of February will also be released Thursday morning. All eyes are on Friday for the release of March's nonfarm payrolls.
    In Japan, the Nikkei 225 gained 0.8% Thursday, while markets in Hong Kong were closed for holiday.
    Oil prices faded 10 cents to $85.33 U.S. a barrel.
    Gold prices dropped $9.70 to $2,305.30 U.S. an ounce.

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