Bay Street Likely To Open On Firm Note

(RTTNews) - The Canadian market looks headed for a positive start Thursday morning as resources stocks are likely to see strong buying on rising commodity prices.

Investors will also be reacting to major U.S. tech earnings. Meta Platforms reported upbeat fourth-quarter results, resulting in the stock climbing up nearly 8% in pre-market trading this morning. Apple Inc.'s earnings update is in focus as well.

West Texas Intermediate Crude oil futures are up $1.83 or 2.9% at $65.04 a barrel.

Gold futures are gaining $238.40 or 4.5% at $5,542.00 an ounce, Silver futures are up $5.356 or 4.8% at $118.890 an ounce, and Copper futures are up $0.4825 or 8% at 6.4075 per pound.

Data from Statistics Canada showed Canada's trade deficit widened to C$2.20 billion in November 2025 from a C$0.395 billion deficit in October. Exports fell 2.8% month on month to C$63.94 billion, while imports edged down 0.1% to C$66.14 billion.

The Canadian market closed modestly higher on Wednesday with investors assessing the interest rate decisions from the Bank of Canada and the Federal Reserve and the two central banks' outlook for the respective economies.

The benchmark S&P/TSX Composite Index ended with a gain of 79.67 points or 0.24% at 33,176.07.

The Bank of Canada as well as the Federal Reserve decided to hold their interest rates unchanged.

With regard to its economic outlook, the BoC stated that growth is projected to be modest in the near-term with a slowdown in population growth while Canada adjusts to U.S. protectionism. Inflation is projected to remain near the 2% target.

Asian stocks ended mixed on Thursday, recovering some lost ground after a sluggish start as U.S.-Iran tensions escalated and tech earnings proved to be a mixed bag.

European stocks, with the exception of those in Germany, are up firmly in positive territory today, with investors mostly reacting to corporate earnings updates, and the Federal Reserve's policy announcement.