This morning, Wall Street futures edged higher early as investors look ahead to next week’s Federal Reserve rate decision. Meanwhile, TSX futures were modestly positive after the Bank of Canada signalled a pause in interest rate hikes.
Wall Street futures edged higher early Thursday as investors continue to weigh corporate results and look ahead to next week’s Federal Reserve rate decision. Major European markets advanced in morning trading.futures were modestly positive after the Bank of Canada signalled a pause in its campaign of interest rate hikes.
Heading into Thursday’s session, 95 of the companies in the S&P 500 having reported. Of those, 67 per cent have beat consensus estimates, well below the 76-per-cent average beat rate over the past four quarters, according to Refintiv. Thursday morning, U.S. investors will get an advance reading on U.S. fourth-quarter GDP before the start of trading. Headline growth is expected to slow to 2.6 per cent in the quarter from 3.2 per cent in the third quarter.
The day range on Brent was US$85.74 to US$86.73 in the early premarket period. The range on West Texas Intermediate was US$79.92 to US$80.84. “Oil prices nudged up a bit but, for the most part, remain unresponsive to EIA reporting a smaller crude to consensus build,” Stephen Innes, managing partner with SPI Asset Management, said in an early note.
Spot gold fell 0.5 per cent to US$1,936.97 per ounce by early Thursday morning, after earlier hitting its highest since April 2022 at US$1,949.09. U.S. gold futures shed 0.3 per cent to US$1,937.20.The Canadian dollar was little changed in the wake of the Bank of Canada’s latest policy decision while its U.S. counterpart held near eight-month lows against a group of world currencies.
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