Futures Take Small Steps Upward Ahead of Open
The TSX Composite Index prospered 68.75 points to end Wednesday at 26,972.32
September futures were up 0.2% Thursday.
The Canadian dollar was unchanged at 73.12 cents U.S.
In company news, Canada Goose's private equity backer, Bain Capital, is considering a sale of its stake in the luxury brand, Bloomberg News reported.
Canada is seeking to finalize a free trade deal with Southeast Asian nations as part of an attempt to expand into new markets, Foreign Minister Anita Anand said, as a response to the hefty tariffs imposed by the U.S.
President Donald Trump on Wednesday announced a new 50% tariff on copper, set to go into effect on August 1, and threatened to slap 50% levies on exports from Brazil.
Trump also issued new tariff letters to seven minor trading partners, adding to the 14 others issued earlier in the week.
Canada, which aims to reach a trade deal with Washington by July 21, could impose counter-duties on the U.S. if no agreement is reached.
ON BAYSTREET
The TSX Venture Exchange gained 5.62 points to end Wednesday at 757.53.
ON WALLSTREET
Stock futures were little changed Thursday as traders continued to try to shake off the tariff tumult a day after Nvidia led the NASDAQ Composite to a fresh record.
Futures for the Dow Jones Industrials let go of 57 points, or 0.1%, to 44,662.
Futures for the S&P 500 index ditched three points, or 0.1%, to 6,304.25.
Futures for the NASDAQ squeezed higher three points to 23,055.75.
Investors will now turn their attention to the second-quarter earnings season, which ramps up next week. Shares of Delta Air Lines jumped 11% in Thursday's premarket trading session after the carrier posted a second-quarter earnings beat and reinstated its 2025 profit outlook.
The S&P 500 and Dow posted their first positive sessions in three with a rise of 0.6% and 0.5%, respectively, while the NASDAQ jumped 0.9% and closed at a record. Those gains were spurred by optimism around the artificial intelligence trade, which sent Nvidia shares nearly 2% higher to briefly become the first public company to be valued at $4 trillion.
The bullish AI sentiment helped lift stocks as investors moved past the latest developments surrounding Trump's tariffs.
President Donald Trump said late Wednesday that a 50% U.S. tariff on imported copper will take effect Aug. 1. Trump also announced a 50% tariff on Brazil partly in retaliation for the current trial against former Brazilian President Jair Bolsonaro for his role in an alleged attempt to overturn the country's 2022 election results. The move was also due to the 'very unfair trade relationship' with Brazil, Trump added, saying it has been 'far from Reciprocal.'
In Japan, the Nikkei 225 index stepped back 0.4% Thursday, while in Hong Kong, the Hang Seng gained 0.6%
Oil prices sank 45 cents to $67.93 U.S. a barrel.
Gold prices climbed $18.20 to $3,339.20 U.S. an ounce.
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