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Market Wrap: pre-opening session |
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U.S. market futures consolidate as U.S. stocks indexes will be closed today for the Juneteenth holiday.
On Thursday, the U.S. stock market finished higher on the back of a tech stock rally. The S&P 500 advanced 80 points (+1.08%) to 7,500, the Nasdaq 100 rose 735 points (+2.48%) to 30,406, and the Dow Jones increased 72 points (+0.14%) to 51,564.
No major economic stat is expected today in the U.S.
In Canada, retail sales are estimated to increase by 0.3% month-on-month in May.
European indices consolidate. On the stat plan, in Germany, producer prices rose 2.2% year-on-year in May, compared with expectations for a 2.5% increase, following a 1.7% rise in the previous month. Separately in the U.K., retail sales increased 1.2% month-on-month in May, versus expectations for a 0.5% gain, after declining 1.0% in April (revised from -1.3%). Meanwhile, the GfK consumer confidence index remained unchanged at -23 in June, compared with expectations of -24.
Asian indices traded lower. China and Hong Kong markets were closed for a holiday
WTI crude oil prices rebound after U.S.-Iran talks were postponed, while Israel said it had carried out strikes in Lebanon.
Gold and silver remain under pressure after dropping yesterday. U.S. dollar continues to climb, trading at 13-month high.
Bitcoin continues to ease, trading close to 62,000 dollars.
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No major corporate news as U.S. stocks indexes will be closed today for the Juneteenth holiday.
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No major earnings expected
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On Thursday, the S&P/TSX Composite Index fell 0.44% to 34,969 and the S&P/TSX 60 Index lost 0.43% to 2,049.
MDA Space (MDA), a mission partner to the space industry, "has signed a definitive agreement to acquire 100% of the membership interests of Blue Canyon Technologies in an all-cash transaction for a purchase price and enterprise value of 620 million dollars, subject to purchase price adjustments. Blue Canyon Technologies is a spacecraft and satellite component manufacturer and mission services provider, currently part of RTX's Raytheon business."
AG Growth International (AFN), a provider of equipment solutions for agriculture bulk commodities, announced that "its Board of Directors has established a Strategic Review Committee to oversee a formal review of strategic alternatives available to the company to maximize shareholder value".
Alamos Gold (AGI), a gold producer, lowered full-year production guidance and raised second quarter costs expectations due to production issues at the Young-Davidson mine as well as power outages due to storm related damage. Target price was cut to 50 dollars from 56 dollars at Jefferies.
Empire Co (EMP/A)'s, a conglomerate whose key businesses are food retailing and related real estate, target price was raised to 53 dollars from 50 dollars at TD Cowen.
Stingray (RAY), a provider of digital entertainment services, announced the repurchase for cancellation of 1 million shares held by La Caisse for a total consideration of 15.4 million dollars. The shares will be repurchased at 15.40 dollars per share, representing a 5.1% discount to the June 18 closing price, and the transaction will be funded with the company's existing cash resources.
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