Bay Street Likely To Open Lower

(RTTNews) - Canadian stocks may open on a negative note Thursday morning, tracking falling precious metals prices. Energy stocks may find support and limit market's downside.

On the economic front, Canada trade data for the month of October is due at 8:30 AM ET.

U.S. trade data and jobless claims report are also due this morning.

Investors will be looking ahead to jobs data from Canada and the U.S., due on Friday.

After back to back gains, the Canadian market shed ground on Wednesday as investors resorted to profit taking. Weak commodity prices triggered selling in mining and energy stocks.

The benchmark S&P/TSX Composite Index traded firmly negative throughout the session before settling at 32,135.49, down by 271.53 points or 0.84%.

Asian stocks ended mixed on Thursday amid escalating China-Japan tensions and ahead of key U.S. jobs data due this week that could influence the Federal Reserve's rate trajectory.

Oil ticked higher in Asian trade after the U.S. said it plans to control Venezuela's oil sales 'indefinitely'. Gold extended overnight losses, pressured by a firm dollar.

China's Shanghai Composite index finished marginally lower at 4,082.98 after a choppy session. Hong Kong's Hang Seng index declined 1.17 percent to 26,149.31, dragged down by basic materials and technology stocks.

Japanese markets tumbled as trade friction with China weighed on chemical stocks and data showed real wages fell in November 2025 at the fastest pace since January 2025.

The major European markets are showing weakness today with investors mostly making cautious moves following some weak corporate updates.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.86 or 1.54% at $56.85 a barrel.

Gold futures are down $40.00 or 0.9% at $4,422.50 an ounce, while Silver futures are down $3.073 or 3.94% at $74.540 an ounce.