Weak global markets and sharply lower commodities point to a negative start for Canadian stocks Thursday morning.
ADP's data on Canadian private sector employment is due at 8:30 AM ET.
Worries about rising coronavirus cases of the delta variant, and weak commodity prices rendered the market weak on Wednesday and pushed down the benchmark index to a negative close for a fifth straight session.
Worries about rising coronavirus cases of the Delta variant, and uncertainties about Fed's tapering plans also dented sentiment after minutes of the Fed's July meeting showed there was broad consensus among policymakers to reduce their monthly bond buying later this year.
The benchmark S&P/TSX Composite Index ended down by 61.48 points or 0.3% at 20,302.11, after scaling a low of 20,294.38 and a high of 20,386.72 intraday.
CNOOC Limited (CNU.TO) said the company's net profit increased substantially in the first half of 2021. Net oil and gas production hit a record high during the period. As a result, the Board of Directors has decided to declare an interim dividend of HK$0.30 per share for the first half of 2021.
Asian stocks tumbled on Thursday, with renewed worries about slowing global growth and uncertainty over Federal Reserve policy moves keeping investors nervous.
Chinese and Hong Kong shares ended lower after China published detailed rules aimed at tackling unfair competition and companies' handling of critical data.
European stocks are plunging sharply with miners and energy companies slumping amid worries about a slowdown in global growth in the second half of the year.
In commodities, West Texas Intermediate crude oil futures for September are down $2.33 or about 3.47% at $63.13 a barrel.
Gold futures are gaining $4.10 or 0.23% at $1,788.50 an ounce, while Silver futures are down $0.097 or 0.41% at $23.325 an ounce.
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