(MENAFN- Baystreet) Stocks End Negative
Stocks Hammered by Shopify Weakness
Techs Drag TSX at Open
Futures Muted Mid-Week Wednesday
TSX Again Positive Previous Articles Subscribe to Get Small Cap News & Alerts Glenn Wilkins - Thursday, May 9, 2024
Futures Fade as Miners Weigh Manulife, Nutrien in Vogue Futures for Canada's main stock index edged lower on Thursday, as a drop in copper prices and higher bond yields outweighed a rebound in oil, while investors awaited more cues on the timing of interest rate cuts.
The TSX Composite dumped 31.46 points to conclude Wednesday at 22,290.62.
June futures backpedaled 0.1% Thursday.
The Canadian dollar slid 0.01 cents to 72.87 cents U.S.
In corporate news, Nutrien, the world's biggest fertilizer producer beat first-quarter profit estimates on Wednesday.
Manulife Financial on Wednesday reported better than expected quarterly profit boosted by a robust performance in its Asia business and wealth management unit.
ON BAYSTREET
The TSX Venture Exchange fell 3.22 points Wednesday to 590.02.
ON WALLSTREET
Stock futures declined on Thursday as a recent slate of disappointing earnings dampened investor sentiment.
Futures for the 30-stock index shed 85 points, or 0.2%, to 39,110.
Futures for the S&P 500 slid 8.5 points, or 0.2%, at 5,204.25.
Futures for the NASDAQ Composite dipped 38.5 points, or 0.2%, to 18,148.
A fresh batch of quarterly earnings reports came out below Wall Street's expectations, pushing stocks slightly lower in premarket trading.
Warner Bros Discovery shares slid 4.4% after reporting a miss on the top and bottom lines, while semiconductor company Arm lost more than 7.5% over lackluster revenue guidance. Airbnb pulled back more than 9% after a weak guidance overshadowed a first-quarter beat.
In Japan, the Nikkei 225 slipped 0.3%, while in Hong Kong, the Hang Seng Index perked 1.2%.
Oil prices climbed 66 cents to $79.65 U.S. a barrel.
Gold prices took on 50 cents to $2,322.80 U.S. an ounce.
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