Canadian stock index futures rose on Thursday, as rebounding oil prices helped stabilize sentiment after sharp losses in the previous session on worries around a hawkish Federal Reserve.
The TSX Composite pointed downward 184.15 points, or 1%, to close Wednesday at 19,184.54.
Futures gained 0.2% early Thursday.
The Canadian dollar advanced 0.11 cents to 74.29 cents U.S.
Pieridae Energy, one of the companies proposing a liquefied natural gas terminal on Canada’s east coast, has asked the federal government to help ensure pipeline operator TC Energy would be able secure permits to expand gas supply pipelines in a timely fashion.
ATB Capital Markets upgraded Aurora Cannabis to sector perform from underperform.
On the economic slate, Statistics Canada reported that, in August, new home prices for Canada increased 0.1% for the second consecutive month.
Last month prices were unchanged in most of the 27 census metropolitan areas (CMAs) surveyed; prices were up in four CMAs and down in one.
The TSX Venture Exchange dipped 3.24 points Wednesday to 613.48.
U.S. stock futures were slightly lower on Thursday morning following a big decline in the major averages as traders weighed another large rate hike from the Federal Reserve.
Futures for the Dow Jones Industrials faded 32 points, or 0.1%, early Thursday to 30,250.
Futures for the S&P 500 gave back 6.5 points to 3,799.75
Futures for the NASDAQ Composite Index lost 37.25 points, or 0.3%. at 11,672.75.
Shares of Revance Therapeutics, a biotechnology company with a Botox competitor, rose nearly 3% in premarket trading Thursday after Goldman Sachs initiated coverage of the company with a buy rating and price target implying nearly 30% upside.
Shares of Eli Lilly rose 1.4% in premarket trading Thursday after UBS upgraded the stock to buy, citing its weight loss drug which could be “the biggest drug ever.”
On the economic front, the latest data on weekly jobless claims is expected Thursday at 8:30 a.m. ET.
In Japan, the Nikkei 225 dipped 0.6%, while in Hong Kong, the Hang Seng fell 1.6%.
Oil prices took on $1.06 to $84.00 U.S. a barrel.
Gold prices advanced $1.70 to $1,677.40 U.S. an ounce.
Stocks Decline Day After Fed Moves