Trading is expected to be quiet in Toronto on Thursday as U.S. markets are closed for the Fourth of July holiday.
After Wednesday’s close, Egyptian President Mohammed Morsi was removed from office by the country's armed forces. Canadian-listed companies with operations in Egypt include
Centamin Egypt (
TSX: T.CEE,
Stock Forum),
Sea Dragon Energy (
TSX: V.SDX,
Stock Forum), and
TransGlobe Energy (
TSX: T.TGL,
Stock Forum).
Shares of Canadian retailers could be under pressure on Thursday after Target announced that it will open an additional 20 stores in Canada this month.
In another potential market moving event, the European Central Bank said it will keep interest rates at record lows for an extended period and could cut them further in the near future.
All eyes will be on Friday’s release of employment data for June in both Canada and the United States. The U.S. economy is expected to crank out 165,000 jobs in June, following a gain of 175,000 in May, while only about 5,000 jobs are expected to be created in Canada.