Investing.com – Futures tied to Canada’s main stock exchange ticked slightly higher on Thursday, after the index edged away from a recent record high in the prior session.
By 1:05 ET, the S&P/TSX 60 index standard had risen by 1.2 points, or 0.1%.
Toronto Stock Exchange’s S&P/TSX composite index gained 8.6 points or 0.03%, having fallen by 214.46 points, or 0.8%, on Wednesday, retreating from an all-time closing high and ending a 10-day winning streak.
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A jump in Canadian 10-year yields to their highest level since January weighed on equities. Investors have been cutting bets that the Bank of Canada will pursue interest rate reductions since recent data showed hot underlying inflation in April.
In earnings, Canada’s banking giant Toronto Dominion Bank (TSX:TD) beat Q2 estimates in eps and revenue, with the stock jumping 3.8% in trading as of 1:10 ET.
U.S. stocks mixed
U.S. stock indexes traded in a muted fashion Thursday, steadying after the previous session’s sharp selloff on concerns over high U.S. debt levels.
At 1:10 ET, the Dow Jones slipped 18,7 points, or 0.04%, and the S&P 500 dropped 2.5 points or 0.04%. However, the NASDAQ Composite gained 70.4 points, or 0.4%.
The main averages slumped on Wednesday, with the blue chip Dow Jones Industrial Average falling over 800 points.
After U.S. President Donald Trump’s trip to the Middle East, G42, OpenAI, Oracle (NYSE:ORCL), NVIDIA (NASDAQ:NVDA), Softbank, and Cisco (NASDAQ:CSCO) announced a historic partnership to build the Stargate UAE cluster in Abu Dhabi.
Additionally, AI lab Anthropic unveiled their Claude 4 models, boasting wins in coding benchmarks.
House passes tax and spending bill
U.S. President Donald Trump’s tax and spending bill narrowly passed the House of Representatives on Thursday morning, overcoming days of political wrangling between Republicans in control of the lower chamber of Congress.
The measure passed by a narrow 215-214 margin, with one member voting present, as all Democrats opposed the bill.
The bill now moves to the Senate, where some lawmakers are pushing for revisions, with a vote on approval expected by August.
The U.S. House Rules Committee on late Wednesday approved President Donald Trump’s expansive tax and spending bill after a nearly 22-hour session, media reports showed.
Along with the extension of 2017 tax cuts, the legislation would slash taxes charged on tips and car loans, while boosting spending on defense and border security. Reductions to key food and health programs for low-income Americans are also included in the bill.
