Futures Rise on RBC Results

Futures for Canada's main stock index rose on Thursday, bolstered by the country's top lender Royal Bank of Canada's strong quarterly results and positive momentum from U.S. markets.The TSX Composite Index gained 124.78 points to 25,328.36.March futures were up 0.4% Thursday. RBC reported a higher first-quarter profit on Thursday, helped by strong performance in its wealth management unit.Other smaller peers Bank of Montreal, Bank of Nova Scotia and National Bank of Canada also exceeded profit expectations earlier this week, similarly benefiting from strong wealth management revenues.The Canadian dollar backpedaled 0.12 cents to 69.63 cents U.S. early Thursday. On the economic calendar, Statistics Canada reported the number of employees receiving pay and benefits from their employer—measured as "payroll employment" in the Survey of Employment, Payrolls and Hours—increased by 25,300 (+0.1%) in December, following a decrease of 14,400 (-0.1%) in November and three consecutive months of little change from August to October.ON BAYSTREET The TSX Venture Exchange climbed 13.23 points, or 2.2% Thursday, to 629.86.ON WALLSTREET Stock futures rose Thursday as Nvidia shares advanced following better-than-expected quarterly results.Futures for the Dow Jones Industrials hiked 111 points, or 0.3%, to 43,613Futures for the S&P 500 index retreated 37.75 points, or 0.6%, to 6,008.50.Futures for the tech-heavy NASDAQ sprinted 179.50 points, or 0.9%, to 21,366.30. Nvidia rose 1.8% after the chip giant exceeded fourth-quarter estimates on the top and bottom lines. The company issued strong guidance, reflecting continued demand driven by the artificial intelligence race.Other tech shares also rose on Thursday. Broadcom and Tesla climbed around 2.3%. each.On Wednesday, stocks came off the session’s highs as investors grew concerned about President Donald Trump’s trade policies. At his first cabinet meeting, he said that duties against Canada and Mexico would take effect and that his trade war will include a 25% tariff on goods from the European Union.Traders will have an eye on Thursday’s weekly jobless claims, but they’re looking ahead to Friday’s personal consumption expenditures price index — the Federal Reserve’s preferred inflation gauge.In Japan, the Nikkei 225 added 0.3%, while in Hong Kong, the Hang Seng fell 0.3%. Oil prices grabbed 82 cents to $69.44 U.S. a barrel. Gold prices slid $29.80 to $2,900.80 U.S. an ounce.