Canadian shares are likely to open with a somewhat negative bias Thursday morning, tracking weakness in European markets and lower commodity prices.
The mood is likely to remain cautious with investors looking ahead to the jobs data from Canada and the U.S., due on Friday.
The Canadian market ended flat on Wednesday despite opening at a record high. The benchmark S&P/TSX Composite Index, which opened at 20,043.08, ended the session at 19,971.15, posting a small loss of 4.86 points or 0.02%. The index touched a low of 19,940.37 in the session.
BRP Inc. (DOO.TO) reported net income of $244 million or diluted earnings of $2.79 per share for the quarter ended April 30, 2021, compared with net loss of $226.1 million or diluted loss of $2.58 per share in the quarter ended April 30, 2020.
Asian stocks ended mixed on Thursday as investors stayed cautious ahead of the monthly U.S. jobs report scheduled for release on Friday.
European markets are exhibiting weakness in lackluster traded Thursday afternoon despite Markit's Eurozone services PMI coming in with a score of 55.2 in May, up from 50.5 in April. The May reading is the highest in almost three years. Investors are looking ahead to U.S. private sector payrolls data due today, and the non-farm payroll data, due on Friday.
In commodities, West Texas Intermediate Crude oil futures are down $0.11 or 0.16% at $68.72 a barrel.
Gold futures are lower by $13.30 or 0.7% at $1,896.60 an ounce, while Silver futures are down $0.294 or 1.04% at $27.910 an ounce.
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