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Bay Street May Open Slightly Higher

The Canadian stock market is likely to open slightly higher Thursday morning, tracking gains in crude oil prices.

However, worries about global economic slowdown due to the impact of trade issues and some disappointing U.S. earnings news may limit market's upside.

The market will also be reacting to ADP Canada National Employment Report for the month of June and the data on U.S. jobless claims.

On Wednesday, the market faltered after a positive start and stayed weak right through the session. The benchmark S&P/TSX Composite Index ended down 18.21 points, or 0.11%, at 16,484.21, after scaling a low of 16,469.02 and a high of 16,534.92.

In company news, MTY Food Group Inc. (MTY.TO) has declared a quarterly dividend of 16.5¢ per share, payable on August 15, 2019 to shareholders registered in the Company's records at the end of the business day on August 2, 2019.

Thomson Reuters Corporation (TRI.TO) today announced that it has acquired HighQ, a leading collaboration platform for the legal and regulatory market. HighQ currently serves more than 400 customers, including more than half of the Global 100 largest law firms.

Asian markets ended weak on Thursday amid worries about slowing growth and the impact of the U.S.-China trade dispute on corporate earnings. Some disappointing earnings reports from the U.S. hurt as well.

European stocks edged lower amid concerns over the outlook for earnings due to slowing growth environment.

In commodities, crude oil futures for August were rising $0.32, or 0.56%, at $57.10 a barrel.

Gold futures for August were down $0.90, or 0.07%, at $1,422.40 an ounce.

Silver futures for September were gaining $0.134, or 0.84%, at $16.105 an ounce, while Copper futures for September were down $0.0140, or 0.52%, at $2.7020 per pound.

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