Mar 27, 2025 (Baystreet.ca via COMTEX) --
Futures tied to Canada's main stock index edged higher on Thursday, after the index declined in the previous session as U.S. President Donald Trump imposed auto tariffs.
The TSX Composite Index reversed 178.45 points to close Wednesday at 25,161.06
June futures gained 0.3% Thursday.
The index is now down more than 2% from its all-time high in January.
Trump unveiled a 25% tariff on imported vehicles on Wednesday, set to take effect on April 3, a day after he plans to announce reciprocal tariffs.
The Canadian dollar nicked ahead 0.01 cents to 69.96 cents U.S.
Economically speaking, Statistics Canada's Survey of Employment, Payrolls and Hours rose by 26,800 (+0.1%) in January, following an increase of 66,400 (+0.4%) in December 2024. On a year-over-year basis, payroll employment was up 198,900 (+1.1%) in January 2025.
ON BAYSTREET
The TSX Venture Exchange dipped 8.57 points, or 1.3%, Wednesday to 638.06.
ON WALLSTREET
Stock futures were little changed Thursday morning as investors weighed the latest tariff-related news from President Donald Trump, including his new tariffs aimed at foreign automakers.
Futures for the Dow Jones Industrials gained 52 points, or 0.1%, to 42,798.
Futures for the S&P 500 index dipped two points to 5,757.50.
Futures for the tech-heavy NASDAQ declined 33.5 points, or 0.2%, to 20,083.
Trump has long discussed imposing duties on countries that have their own tariffs on U.S. imports and said on Wednesday that his retaliatory tariffs will be permanent for his entire second term.
On Wednesday evening, he announced 25% tariffs on "all cars that are not made in the United States" that will go into effect on April 2. Shares of General Motors pulled back 6.5% in premarket trading following Trump's remarks, while Stellantis shed 1.8% and Ford slipped about 0.5%.
Still, hints provided by the President this week about the upcoming April 2 levies has given investors some relief. He said Wednesday the tariffs would be "very lenient" and that he would be willing to reduce tariffs on China to help further a deal with ByteDance's TikTok. At the same time, using tariffs as a negotiating tactic, he threatened on Thursday to impose "far larger" tariffs on the European Union and Canada if they work together to combat trade tariffs.
Trump's announcements come as investors are already anxious about how his retaliatory tariffs will affect the broader U.S. economy, which is already showing some signs of weakness. Consumer confidence, for example, reached a 12-year low in March, according to a Conference Board report, in the latest indication of broader pessimism toward the economy. The board's measure follows a similarly weak reading of the University of Michigan Survey of Consumers for March.
In Japan, the Nikkei 225 index dipped 0.6% Thursday, while in Hong Kong, the Hang Seng gained 0.4%
Oil prices dropped 21 cents to $69.44 U.S. a barrel.
Gold prices took on $39.40 to $3,091.70 U.S. an ounce.

COMTEX_463987538/2559/2025-03-27T08:42:12