Potash, Encana in spotlight
The S&P/TSX composite index ditched 11.08 points to open Thursday at 15,383.30
The Canadian dollar was down 0.05 at
Potash Corp of Saskatchewan raised its full-year earnings outlook after second-quarter profit fell less than expected due to growing global fertilizer demand. Potash shares gained
Encana posted a steeper-than-expected 31% fall in quarterly operating profit, hurt by lower gas production and prices. Encana shares tacked on
Struggling with long delays in its CSeries jetliner, Bombardier announced on Wednesday that it will reorganize its business and cut 1,800 jobs. Bombardier added
On the economic slate, Statistics Canada reported that those receiving regular employment insurance benefits fell by 12,100 or 2.3%. The total number of beneficiaries for the month was 504,100.
The 14 Toronto subgroups were evenly divided between gainers and losers, with metals & mining up 1.3%, consumer staples up 0.6%, and telecoms, up 0.4%.
The seven laggards were weighed mostly by gold, down 1.1%, energy, down 0.4%, and industrials, off 0.2%.
The S&P 500 rose to another new high Thursday and is now within range of 2,000.
The Dow Jones Industrials inched up 4.24 points to 17,090.87.
The S&P 500 gained 0.13 points to 1,987.14. The NASDAQ composite dropped 5.88 points to 4,467.82.
Overall, corporate earnings for the second quarter have been strong. Of the 148 members of the S&P 500 that have reported earnings as of Wednesday, 102 have been better than expected, according to S&P Capital IQ.
Facebook shares soared 7% to a record after posting earnings that blew away expectations.
Qualcomm shares plunged due to worries over the company's business in
AT&T slipped after reporting earnings that missed expectations by a penny.
Amazon and Pandora will report after the close.
Caterpillar shares fell after the construction equipment maker lowered the mid-point of its 2014 sales outlook, citing weakness in
General Motors expects to pay between
Rival automaker Ford reported a quarterly pre-tax profit of
Shares of United Airlines rose after the carrier announced a 51% surge in quarterly net income . The airline also announced a
Starbucks and Visa will report after the close.
The number of Americans filing first-time claims for unemployment benefits fell to a more than eight-year low, according to the
Prices for 10-year U.S. Treasuries fell, raising yields to 2.50% from Wednesday's 2.46%. Treasury prices and yields move in opposite directions.
Oil prices docked
Gold prices dipped
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