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TSX futures rebounds from sharp selloffs in prior session

(Reuters) - Futures for Canada’s main stock index were set to join a global recovery on Thursday, a day after TSX posted its worst day in over four months over worries about surging coronavirus cases in Europe and the United States.

FILE PHOTO: The Art Deco facade of the original Toronto Stock Exchange building is seen on Bay Street in Toronto, Ontario, Canada January 23, 2019. REUTERS/Chris Helgren

December futures on the S&P/TSX index were up 0.57% at 7:00 a.m. ET.

Data on Canada’s average weekly earnings is due at 8:30 a.m. ET

The Toronto Stock Exchange’s S&P/TSX composite index ended 2.71% lower at 15,586.57 on Wednesday.

Dow Jones Industrial Average e-mini futures were up 0.43% at 7:00 a.m. ET, while S&P 500 e-mini futures were up 0.59% and Nasdaq 100 e-mini futures were up 0.96%.

TOP STORIES [TOP/CAN]

J.C. Penney Co Inc said on Wednesday it has entered an asset purchase agreement with Brookfield Asset Management Inc, Simon Property Group and a majority of the company’s first lien lenders.

ANALYST RESEARCH HIGHLIGHTS [RCH/CA]

Cogeco Communications Inc: RBC cuts price target to C$114 from C$119

Suncor Energy Inc: Citigroup cuts to “neutral” from “buy”

Acadian Timber Corp: CIBC cuts price target to C$18 from C$19

COMMODITIES AT 7:00 a.m. ET

Gold futures: $1878.7; -0.03% [GOL/]

US crude: $36.16; -3.29% [O/R]

Brent crude: $37.91; -3.09% [O/R]

U.S. ECONOMIC DATA DUE ON THURSDAY

0830 GDP advance for Q3: Expected 31.0%; Prior -31.4%

0830 GDP sales advance for Q3: Prior -28.1%

0830 GDP cons spending advance for Q3: Prior -33.2%

0830 GDP deflator advance for Q3: Expected 2.8%; Prior -2.1%

0830 Core PCE prices advance for Q3: Expected 4.0%; Prior -0.8%

0830 PCE prices advance for Q3: Prior -1.6%

0830 Initial jobless claim : Expected 775,000; Prior 787,000

0830 Jobless claim 4week average : Prior 811,250

0830 Continue jobless claim : Expected 7.700 mln; Prior 8.373 mln

1000 Pending Homes Index for Sep: Prior 132.8

1000 Pending sales change mm for Sep: Expected 3.4%; Prior 8.8%

FOR CANADIAN MARKETS NEWS, CLICK ON CODES:

TSX market report [.TO]

Canadian dollar and bonds report [CAD/] [CA/]

Reuters global stocks poll for Canada <EPOLL/CA>

Canadian markets directory

Reporting by Amal S in Bengaluru; Editing by Shailesh Kuber

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