Bay Street May Open With Positive Bias On Firm Commodity Prices

(RTTNews) - Canadian stocks may open with a positive bias on Thursday as some brisk buying is likely in energy and materials sectors thanks to higher oil and precious metals prices. Geopolitical concerns and prospects of Fed rate hikes could limit market's upside. Investors eye U.S. non-farm payroll data for the month of August, due on Friday. Data from Statistics Canada showed Canada recorded a trade surplus of C$770 million in July. Exports decreased to C$76.14 billion in July from C$77.96 billion in June, while imports increased to C$75.37 billion in July from C$73.76 billion in June. Brp Inc. reported loss per share of $0.18 in the second-quarter, as against earnings per share of $92 a year ago. Second-quarter loss per share was expected to come in at $0.64. Enghouse Systems is scheduled to report its third-quarter earnings later in the day. Canadian stocks closed higher on Wednesday, partially offsetting recent losses as investors parsed the decision by the Bank of Canada to hold the interest rates at 2.25% amid ongoing Canada-U.S. trade war and the intensifying U.S.-Iran re-escalation. The benchmark S&P/TSX Composite Index settled with a gain of 265.88 points or 0.74% after trading positive right through the day's session. Asian stocks ended on a muted note on Thursday as lower oil prices and bond yields offset a mixed set of earnings results from Broadcom. The California-based chip and infrastructure software firm delivered record-breaking results for its fiscal third quarter but forecast quarterly revenue below Wall Street expectations. U.S. Treasury yields eased from multi-year highs and oil steadied after a three-day rally, helping support regional sentiment to some extent. The U.S. dollar index pulled back sharply ahead of the August jobs report scheduled for Friday. European stocks are turning in a mixed performance today with investors digesting mixed regional PMI data and looking ahead to the crucial U.S. monthly jobs report tomorrow for clues about Federal Reserve's interest rate moves. In commodities trading, West Texas Intermediate Crude oil futures are up $1.25 or 1.37% at $92.26 a barrel. Gold futures are up $73.50 or 1.67% at $4,488.10 an ounce, while Silver futures are up $0.727 or 1.11 at $66.190 an ounce.

(RTTNews) - Canadian stocks may open with a positive bias on Thursday as some brisk buying is likely in energy and materials sectors thanks to higher oil and precious metals prices. Geopolitical concerns and prospects of Fed rate hikes could limit market's upside.

Investors eye U.S. non-farm payroll data for the month of August, due on Friday.

Data from Statistics Canada showed Canada recorded a trade surplus of C$770 million in July. Exports decreased to C$76.14 billion in July from C$77.96 billion in June, while imports increased to C$75.37 billion in July from C$73.76 billion in June.

Brp Inc. reported loss per share of $0.18 in the second-quarter, as against earnings per share of $92 a year ago. Second-quarter loss per share was expected to come in at $0.64.

Enghouse Systems is scheduled to report its third-quarter earnings later in the day.

Canadian stocks closed higher on Wednesday, partially offsetting recent losses as investors parsed the decision by the Bank of Canada to hold the interest rates at 2.25% amid ongoing Canada-U.S. trade war and the intensifying U.S.-Iran re-escalation.

The benchmark S&P/TSX Composite Index settled with a gain of 265.88 points or 0.74% after trading positive right through the day's session.