Markets

TSX May Open Higher on U.S. Jobless Claims Data, Oil Prices, But Canada GDP Report May Limit Gains

The TSX is likely to start the Thursday session in the positive territory, following a positive report U.S. jobless claims. But data on the Canadian GDP may temper the buying mood.

Stock futures for the June quarter on the S&P TSX index have risen 0.06% at 8.57am ET.

Just a day after the U.S. Federal Reserve concluded its meeting, which clarified that the bank will only raise key rates once labor market conditions improve, reports showed that the number of Americans filing applications for unemployment benefits dropped to the lowest level since the year 2000.

Supportive of resource stocks, Brent crude prices broke past the US$66-per-barrel mark, while copper rose 1.84%.

In Canada, however, Statistics Canada revealed that the country's economy stalled in February, with GDP unchanged in the month versus economists' expectation of a 0.1% decline.

Investors will keep an eye out on big Canadian players that released earnings, including PotashCorp (POT.TO), BCE (BCE.TO), Suncor (SU.TO), and Domtar (UFS.TO).

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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