May 22 Canadian stocks looked set to open higher on Thursday, helped by Chinese factory data and minutes from the recent Federal Reserve meeting that suggested the U.S. Central Bank will maintain some monetary support for the world's largest economy.
China's factory sector turned in its best performance this year in May but still contracted for the fifth straight month.
June futures on the S&P TSX index <0#SXF:> were up 0.12 percent at 0715 ET.
Canadian retail sales data is due at 0830 ET.
The index climbed on Wednesday after the comments in the Fed minutes helped drive gains in all major sectors.
Dow Jones Industrial Average futures were up 0.13 percent at 0715 ET, while S&P 500 futures were up 0.04 percent and Nasdaq 100 futures were up 0.06 percent.
Royal Bank of Canada reported a 15 percent rise in quarterly profit, driven by strong domestic lending volumes and capital markets revenue.
Toronto-Dominion Bank said its quarterly profit rose 16 percent on the back of strong Canadian and U.S. retail lending.
COMMODITIES AT 0715 ET
Gold futures : $1,294.2; +0.48 pct
US crude : $103.96; -0.11 pct
Brent crude : $110.41; -0.13 pct
LME 3-month copper : $6,888.00; +0.83 pct
ANALYST RESEARCH HIGHLIGHTS
Altus Group : Canaccord Genuity raises target price to C$24 from C$23; rating buy
Canaccord Genuity : CIBC raises target to C$10.50 from C$9; sector outperformer
Mosaic Capital : Canaccord Genuity raises target price to C$14.25 from C$12.25
U.S. ECONOMIC DATA DUE ON THURSDAY
0830 Initial jobless claims: Expected +310,000 prior +297,000
0830 Jobless claims 4-Week average: Prior +323,250
0830 Continued jobless claims: Expected +2.660 mln prior +2.667 mln
0830 National activity index for April: Prior +0.20
0945 Markit manufacturing PMI flash for May: Expected +55.5 prior +55.4
1000 Existing home sales for April: Expected +4.68 mln prior +4.59 mln
1000 Existing home sales pct Change for April: Expected +2.2 pct prior -0.2 pct
1000 Leading index Chg mm for April: Expected +0.3 pct prior +0.8 pct
1100 KC fed manufacturing for May: Prior +12
1100 KC fed composite index for May: Prior +7
FOR CANADIAN MARKETS NEWS, CLICK ON CODES:
TSX market report
Canadian dollar and bonds report
Reuters global stocks poll for Canada
Canadian markets directory
($1= $1.09 Canadian) (Reporting by Mononshila Deka in Bangalore)