Bay Street May Open On Positive Note

(RTTNews) - Higher Canadian and U.S. futures point to a positive start on Bay Street Thursday morning. Weak commodity prices may weigh a bit, but the focus will largely be on U.S.-China summit, and news about Middle East conflict.

On the earnings front, Northland Power reported earnings per share of $0.33 for the first quarter of the current financial year, compared with $0.25 in the year-ago quarter. In the fourth quarter of the previous financial year, the company had reported earnings per share of $0.93.

Hydro One reported earnings per share of $0.65 in the first quarter, up slightly compared with $0.60 a year ago.

Keyera, Boralex, Canada Goose Holdings and Canadian Tire Corporation are schedule to announce their results today.

On the economic front, data on new motor vehicle sales and wholesale sales are due at 8:30 AM ET.

The Canadian market ended weak on Wednesday after the U.S. and Iran turned down each other's peace proposals, leaving the Strait of Hormuz still shut.

The benchmark S&P/TSX Composite Index, which stayed weak right through the session, ended with a loss of 249.30 points or 0.73% at 34,041.43.

Asian stocks ended mixed on Thursday, with the spotlight firmly on a high-stakes summit between U.S. President Donld Trump and Chinese President Xi Jinping in Beijing. Based on Xi Jinping's readout of the meeting, the two leaders agreed to develop a "constructive China-U.S. relationship of strategic stability" led by cooperation and "measured competition."

The major European markets are up in positive territory today as U.S.-China talks got underway and official data showed the U.K. economy grew at a faster pace in the first quarter, driven by contribution from all three sectors.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.25 or 0.25% at $100.77 a barrel.

Gold futures are down $5.50 or 0.11% at $4,701.20 an ounce, while Silver futures are down $2.043 or 2.29% at $87.325 an ounce.