Futures for Canada's main stock index inched higher on Thursday, tracking upbeat mood in Wall Street, while investors awaited the European Central Bank's policy decision due later in the day.

June futures on the S&P/TSX index were up 0.2% at 7:00 a.m. ET.

The ECB meeting is expected to end the bank's asset purchase programme and signal rate hikes to tame surging inflation.

The Toronto Stock Exchange's S&P/TSX composite index ended 0.7% lower at 20,792.43 on Wednesday.

Dow e-minis were up 152 points, or 0.46% at 6:55 a.m. ET, while S&P 500 e-minis were up 21.5 points, or 0.52% and Nasdaq 100 e-minis were up 76 points, or 0.6%.

 

TOP STORIES

Canada's central bank has signaled plans to race ahead with a series of oversized hikes to curb inflation, raising the risk of plunging the economy into a recession, say economists, though worth it if it keeps rapid price rises from becoming entrenched.

ANALYST RESEARCH HIGHLIGHTS

Canadian Natural Resources Ltd: CIBC raises target price to C$95 from C$90

Enghouse Systems Ltd: CIBC cuts to "neutral" from "outperform"

Suncor Energy Inc: CIBC raises target price to C$65 from C$60

 

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1849.2; -0.26%

US crude: $121.74; -0.28%

Brent crude: $123.34; -0.19%

 

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 Initial jobless claim : Expected 210,000; Prior 200,000

0830 Jobless claim 4week average : Prior 206,500

0830 Cont jobless claim : Expected 1.305 mln; Prior 1.309 mln

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report

Canadian dollar and bonds report

Reuters global stocks poll for Canada

Canadian markets directory ($1= C$1.26) (Reporting by Amal S in Bengaluru; Editing by Vinay Dwivedi)


Reuters