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Bay Street Seen Opening On Mixed Note

Canadian shares are likely to open on a mixed note on Thursday with investors reacting to commodity prices and looking ahead to new U.S. President Joe Biden's take on additional economic stimulus.

Data on private sector employment in Canada, and new housing price index for the month of December 2020, are due out at 8:30 AM ET.

Private businesses in Canada added 40,800 jobs in November of 2020, after cutting 383,500 positions in October. It was the first jobs gain since February.

Prices of new homes in Canada were up 0.6% in November, after rising 0.8% in October.

The Canadian market ended higher on Wednesday, extending gains to a third straight session. The benchmark S&P/TSX Composite Index ended with a gain of 57.54 points or 0.32% at 18,014.91, after scaling a low of 17,911.50 and a high of 18,027.52 intraday.

CGI Inc. (GIB.A.TO) has launched an updated brand identity to signify how it helps clients harness the power of technology to create value for their customers and citizens. The brand has a tagline, 'Insights you can act on,' which represents the company's knowledge of clients' industries and its collaborative style in building strategies and delivering services that help clients achieve business outcomes.

Asian stocks ended broadly higher on Thursday after Joe Biden was sworn in as the 46th U.S. President, helping lift hopes for more fiscal stimulus to fight the coronavirus-led economic slump and spur growth in the world's largest economy.

European stocks are modestly higher amid optimism over Joe Biden's administration in the U.S. coming out with additional stimulus to spur growth in the world's largest economy. Fairly decent earnings reports from some top names also contribute to the positive trend in the markets.

In commodities, West Texas Intermediate Crude oil futures are down $0.22 or 0.41% at $53.02 a barrel.

Gold futures are gaining $4.50 or 0.23% at $1,871.00 an ounce, while Silver futures are up $0.204 or 0.8% at $25.970 an ounce.

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