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Futures ease with trade tensions

Sep 13, 2018 (Baystreet.ca via COMTEX) --

Stock futures pointed to a flat opening for Canada's main stock index on Thursday as trade worries softened after the United States and China took steps to resume talks.

The S&P/TSX Composite Index finished lower by 45.23 points Wednesday at 16,049.02

The Canadian dollar shed 0.04 cents to 76.89 U.S. early Thursday

September futures nicked up 0.02% Thursday

Foreign Minister Chrystia Freeland said on Wednesday officials needed to do more work before she could hold fresh talks with the United States on renewing North America Free Trade Agreement as time runs out to reach a deal.

Dollarama Inc missed analysts' estimates for second-quarter profit and comparable-store sales on Thursday, hit by lower sales during the Canada Day weekend.

National Bank of Canada raised the target price on Atco Ltd. to $44.00 from $43.00

National Bank of Canada raised the target price on Hudson's Bay Co. to $13.00 from $11.00

CIBC raised the target price on Linamar Corp. to outperform from neutral

On the economic list, Statistics Canada reported that builders in 15 of the 27 census metropolitan areas surveyed reported higher prices in July, pushing the Canada-level new housing price index up 0.1%. It was the second straight rise for house prices in this country.

ON BAYSTREET

The TSX Venture Exchange recovered 4.3 points Wednesday o 726.50

ON WALLSTREET

U.S. stock index futures rose ahead of Thursday's open, as investors geared up for news out of the political and economic spheres.

Futures for the Dow Jones Industrials picked up 74 points, or 0.3%, to 26,093

S&P 500 futures gained 7.75 points, or 0.3%, to 2,896.25, while futures for the NASDAQ composite progressed 31.25 points, or 0.4%, to 7,517.25

Champions Oncology is among the firms reported earnings Thursday.

The future of trade relations between the U.S. and China took a new turn in the last 24 hours, after news emerged that the U.S. was seeking to reignite trade discussions with China. Sources told the media that the United States was in the early stages of proposing a new round of trade talks with China in the near future.

In economic data, jobless claims and consumer price index figures are due out at 8:30 a.m. ET, followed by the Monthly Treasury Statement at 2 p.m. ET.

Overseas, in Japan, the Nikkei 225 hiked 1% while in Hong Kong, the Hang Seng index rocketed 2.5%

Oil prices deducted 91 cents to $69.46 U.S. a barrel.

Gold prices gained 30 cents to $1,211.20 U.S. an ounce.

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