Aug 07, 2025 (Baystreet.ca via COMTEX) --
Futures for Canada's main stock index on Thursday edged higher with strong corporate earnings boosting sentiment, while investors also weighed the impact of U.S. tariff implementation.
The TSX Composite Index popped 350.79 points, or 1.3%, to close Wednesday at 27,920.87.
Futures climbed 0.6% Thursday.
The Canadian dollar moved up 0.03 cents to 72.81 cents U.S.
U.S. President Donald Trump's higher tariff rates kicked in, with Canada facing a 35% rate after failing to reach a trade agreement ahead of the deadline.
In the macroeconomic world, Western University's IVEY School of Business reports its Purchasing Managers' Index for July at 10 a.m. EDT.
ON BAYSTREET
The TSX Venture Exchange recovered 22.19 points, or 2.9%, Tuesday to 783.68.
ON WALLSTREET
Stock futures rose Thursday led by tech as President Donald Trump unveiled new chip tariffs that include broad exemptions.
Futures for the Dow Jones Industrials galloped 243 points, or 0.6%, to 44,555.
Futures for the S&P 500 moved higher 44.25 points, or 0.7%, to 6,415.25
Futures for the NASDAQ hiked 195.75 points, or 0.5%, to 23,618.50.
Trump announced late Wednesday that there would be a 100% tariff on imported chips, but not for companies that are "building in the United States."
Nvidia shares rose more than 1% in the pre-market, while AMD climbed 2.5%.
Stocks are coming off of a positive session. The S&P 500 ended Wednesday about 0.7% higher, while the NASDAQ Composite advanced 1.2%. The 30-stock Dow gained about 81 points, or 0.2%.
Week to date, the S&P 500 has gained 1.7% and the NASDAQ has added 2.5%. The 30-stock Dow has advanced 1.4%. Prior to Wednesday's modest gains, the S&P 500 had notched five losing sessions over the past six trading days, and the Dow had had six negative days in the past seven.
In Japan, the Nikkei 225 index gained 0.7% Thursday, while in Hong Kong, the Hang Seng took on 0.7%.
Oil prices picked up 74 cents to $65.09 U.S. a barrel.
Gold prices progressed $15.40 at $3,448.80 U.S. per ounce.
COMTEX_467853353/2559/2025-08-07T07:42:42
