This post was originally published on this site
September futures on the S&P/TSX index were up 0.2% at 6:57 a.m. ET (1057 GMT).
Canada’s main stock index rebounded from a two-month low to close nearly 1% higher on Wednesday.
Oil steadied after disappointing economic data from key economies had led to an early decline in prices, with investors awaiting a speech by U.S. Federal Reserve Chair Jerome Powell on Friday for clues on interest rate moves.[O/R]
Canada’s largest bank, Royal Bank of Canada (RBC) beat analysts’ estimates for the third-quarter profit, boosted by cost-cutting measures and higher interest rates.
The country’s second-largest bank, Toronto-Dominion Bank, missed Bay Street estimates for quarterly profit as it set aside money to cover unpaid loans.
Meanwhile, Canadians hoping for relief from a rapid rise in mortgage rates are in for some disappointment, as recent moves in the bond market point to interest rates staying at elevated levels for longer than previously expected.
Across the border, futures tracking the Nasdaq 100 index jumped after a stellar forecast from Nvidia (NASDAQ:NVDA) boosted investor confidence and lifted shares of major technology and growth stocks. [.N]
COMMODITIES AT 6:57 a.m. ET
Gold futures: $1,919.2; -0.1% [GOL/]
US crude: $79.17; +0.4% [O/R]
Brent crude: $83.54; +0.4% [O/R]
($1= C$1.3539)
