Thursday outlook: TSX set for gain following batch of upbeat Q2 earnings
Investors watch for U.S. unemployment report
Thursday, July 29, 2010
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Source: The Canadian Press
The Toronto stock market is poised to open higher following a batch of upbeat earnings from key resource companies.
Suncor Energy Inc. (TSX:SU), Barrick Gold Corp. (TSX:ABX), Goldcorp Inc. (TSX:G), Agnico-Eagle Mines Ltd. (TSX:AEM) and Potash Corp. of Saskatchewan Inc. (TSX:POT) all reported big jumps in second-quarter income and revenue.
Better-than-expected earnings from companies like Motorola Inc., Southwest Airlines Co. and Avon Products Inc. also gave futures on Wall Street a boost.
Investors will be keeping an eye on the U.S. Labour Department’s weekly report on unemployment today for signs of an improving jobs market.
The price of oil slipped 23 cents to US$76.76 a barrel, while gold added $2 to US$1,162.40 an ounce.
The loonie was up 0.63 cent to 96.96 cents US.
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