Bay Street Headed For Weak Start
(RTTNews) - Lower U.S. and Canadian futures and weak precious metals prices indicate a lower opening for stocks on Bay Street Thursday morning. Oil prices have rebounded, paring early losses.
Nasdaq futures are down sharply, with Nvidia shares plunging more than 7% in premarket trading on reports the company's board is looking to oust co-founder and CEO Jensen Huang amid allegations of multiple affairs.
Data from Statistics Canada showed building permits in Canada decreased 4.1% in September after rising 7.6% in August.
Canadian Tire Corporation reported diluted earnings per share from continuing operations of $4.27 for the third quarter ended October 3, 2026, up $1.14 or 36.4% compared to Q3 2025, and up $0.49 or 13.0% on a normalized basis.
Stantex, Exchange Income, Northland Power, Choice Properties, Canadian Energy Services and Jamieson Wellness are scheduled to report their quarterly earnings today.
Canadian stocks moved higher on Wednesday amid gains in the energy and IT sectors due to a surge in crude oil prices and technology stocks respectively.
The benchmark S&P/TSX Composite Index traded firmly positive throughout the session before settling at 36,411.72, up by 241.27 points or 0.67%.
Asian stocks ended mostly lower on Thursday despite Wall Street's overnight rally. Investors grappled with fresh uncertainty over the artificial intelligence trade after media reports suggested that Nvidia's board is preparing to oust its co-founder and CEO Jensen Huang, who is facing new accusations of infidelity.
According to the New York Times, Huang was allegedly in a relationship with Nvidia's vice president of health care, Kimberly Powell.
The major European markets climbed notably higher Thursday morning but pared gains past noon and are currently turning in a mixed performance with the benchmark indexes trading slightly above the flat line.
In commodities, West Texas Intermediate Crude oil futures are up $0.60 or 0.68% at $87.13 a barrel.
Gold futures are down $89.70 or about 2.2% at $3,910.30 an ounce, while Silver futures are down $1.467 or 2.8% at $50.535 an ounce.
