TSX:APR.UN - Post by User
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TimeBuilderon Dec 22, 2022 4:10pm
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Comments= economic data = CG up grade BUY from HOLD
Comments= economic data = CG up grade BUY from HOLD Dec 22 (Reuters) - Futures for Canada's main stock index were muted on Thursday after a resources-led rally in the prior session as investors shied away ahead of a reading of the crucial U.S. jobs data, while higher oil prices provided some support.
Futures on the S&P/TSX index were flat at 06:49 a.m. ET (1149 GMT), while their U.S. counterparts trickled lower.
The benchmark Canadian index closed up in the previous session, its biggest single-day jump this month as resources shares rallied and investors took some encouragement from domestic data showing an easing in the annual rate of inflation.
Oil prices climbed for the fourth straight session, up more than 1%, while gold prices traded in a narrow range on Thursday.
Investors will be on the lookout for U.S. jobs data and third quarter GDP before markets open, in a bid to gauge the Federal Reserve's monetary policy path for the coming year.
Hawkish commentary from the Fed last week flared recessionary fears, igniting a sharp selloff in the United States and Canada.
Among single stocks to look out for, RBC started coverage on asset manager Brookfield Asset Management with an "outperform" rating.
Bombardier Inc Chief Executive Eric Martel voiced concerns over Canada's potential plan to buy reconnaissance jets directly from Boeing Co instead of tapping its home-grown aerospace industry through a bidding process.
Canaccord Genuity raised Automotive Properties Real Estate Investment Trust to "buy" from "hold". ($1 = 1.3613 Canadian dollars) (Reporting by Shashwat Chauhan in Bengaluru; Editing by Shailesh Kuber)