Futures Slightly Lower with Commodities

Futures for Canada’s main stock index edged lower on Thursday as weak company earnings overnight hit investor sentiment and commodity prices were pressured by concerns of aggressive interest rate hikes from the U.S. Federal Reserve.

The TSX poked ahead 15.6 points to conclude Wednesday at 20,720.39.

March futures on the S&P/TSX index were down 0.2% Thursday morning.

The Canadian dollar eked up 0.02 cents to 74.68 cents U.S.

In company news, fertilizer maker Nutrien forecast 2023 earnings below expectations and posted lower-than-expected profit for the fourth quarter.

Shopify forecast slowing revenue growth for the current quarter despite price hikes and new product launches, signaling that macroeconomic challenges were weighing on its merchants’ online businesses. U.S.-listed shares of the technology company plunged 10.2% in pre-market trading.

Manulife Financial reported a drop in fourth-quarter profit as investors pulled capital from the insurer’s wealth and asset management unit amid heavy market volatility.


The TSX Venture Exchange recovered 3.25 points Wednesday to 623.43.


Stock futures were little changed Thursday as traders assess retail sales data that pointed to a strong U.S. economy.

Futures for the Dow Jones Industrials let go of 30 points, or 0.1%, early Thursday to 34,144.

Futures for the S&P 500 fell nine points, or 0.2%, to 4,149.25.

Futures for the NASDAQ Composite slipped 41.25 points, or 0.3%, to 12,688.75.

In Japan, the Nikkei 225 index gained 0.7%, while in Hong Kong, the Hang Seng hiked 0.8%.

Oil prices slid 18 cents to $78.77 U.S. a barrel.

Gold prices poked up $1.70 to $1,847.00 U.S. an ounce.