Canadian stocks are poised for a lackluster opening on Thursday, potentially leaning slightly negative due to declining crude oil prices and concerns about new tariff implementations by the Trump Administration.
Upcoming data includes preliminary Canadian retail sales figures for December and final figures for November, set for release at 8:30 AM ET. Retail sales in November were anticipated to remain flat compared to the previous month, following a 0.6% rise in October, according to preliminary estimates.
K92 Mining Inc. (KNT.TO) has announced a production forecast ranging from 160,000 to 185,000 ounces of gold equivalent for 2025, marking an increase from last year's peak of 149,515 ounces.
Aurora Cannabis Inc. (ACB.TO) has launched its inaugural German-cultivated medical cannabis product under the IndiMed brand. This product will be manufactured at its EU-GMP certified facility in Leuna, Germany.
The Canadian market advanced on Wednesday, continuing its upward trend for the seventh consecutive session, buoyed by gains in the technology and industrial sectors. Technology stocks performed well, reflecting a strong Nasdaq session on Wall Street following Netflix's solid earnings report and President Trump's announcement of a private sector investment up to $500 billion to enhance artificial intelligence infrastructure.
However, Trump's tariff threats tempered market gains. The S&P/TSX Composite Index concluded with a rise of 29.87 points or 0.12%, ending at 25,311.50.
In Asia, stock performances were mixed on Thursday, despite China's introduction of several measures aimed at stabilizing its stock markets. Meanwhile, traders are keeping a close watch on anticipated announcements concerning tariffs from the Trump administration and upcoming policy decisions from major central banks.
European markets remained mostly flat to modestly higher on Thursday as China introduced multiple measures to direct capital into its stock markets. In light of uncertainties surrounding President Trump's proposed tariffs affecting multiple countries, traders are eagerly anticipating his keynote speech at the World Economic Forum in Davos, Switzerland, for further guidance.
In the commodities market, West Texas Intermediate crude oil futures rose by $0.36 or approximately 0.48%, reaching $75.80 per barrel. Meanwhile, gold futures fell by $13.80 or 0.5%, trading at $2,757.10 per ounce, and silver futures declined by $0.405 or 1.29%, sitting at $31.015 per ounce.
