Futures Promise Strong Open

Futures tied to Canada's main stock index rose on Thursday due to higher crude and gold prices, while investors braced for U.S. economic data expected later in the day.

The TSX Composite Index hiked 122.12 points to close Wednesday at 24,561.20

December futures were up 0.3% Thursday.

The Canadian dollar was down 0.1 cents to 72.59 cents U.S.

In corporate news, the National Bank of Canada upgraded Lithium Americas' stock to outperform from sector perform.

On the economic slate, Statistics Canada reports Canadian investors increased their exposure to foreign securities by $12.3 billion in August, mainly in U.S. shares. Meanwhile, foreign investors acquired $10.0 billion of Canadian securities.

ON BAYSTREET

The TSX Venture Exchange recovered 6.22 points, or 1%, Wednesday to 606.64.

ON WALLSTREET

U.S. stock futures rose slightly Thursday after the Dow Jones Industrial Average closed at a record for the second time this week, and traders awaited the release of fresh economic data.

Futures for the 30-stock index marched ahead 71 points, or 0.2%, to 43,413.

Futures for the S&P 500 hiked 25 points, or 0.4% to 5,912.

Futures for the NASDAQ Composite Index jumped 165,5 points, or 0.8%, to 20,513.

Chip stocks popped, led by Taiwan Semiconductor. Shares were up 8% after the company reported strong third-quarter results. Artificial intelligence darling Nvidia followed Taiwan Semiconductor higher, rising 3% in the premarket. AMD also jumped more than 2%.

Corporate earnings are set to continue with insurance company Travelers, alternative asset manager Blackstone and health insurer Elevance Health slated to report Thursday morning. Regional banks KeyCorp, M&T Bank and Truist Financial are also on deck.

Initial weekly jobless claims data and September retail sales numbers are due at 8:30 a.m. ET. Investors will parse through the reports for clues on the health of the labor market and U.S. consumer.

In Japan, the Nikkei 225 faded 0.7% Thursday, while in Hong Kong, the Hang Seng docked 1%.

Oil prices nicked ahead 17 cents to $70.56 U.S. a barrel.

Gold prices acquired $11.20 to $2,702.50