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Bay Street May See Some Volatility In Early Trade

Canadian shares are likely to see some volatility Thursday morning, tracking lower bullion prices and reacting to U.S. inflation data.

U.S. inflation data is due out at 8:30 AM ET. The data will provide clues as to when the Federal Reserve might tighten its dovish monetary policy.

The U.S. Labor Department is scheduled to release its weekly jobless claims data at 8:30 AM ET.

The Canadian market ended weak on Wednesday after a lackluster session. The market digested the central bank's rate decision and views on the economy, and looked ahead to U.S. inflation data for cues. The benchmark S&P/TSX Composite Index ended down 63.65 points or 0.32% at 20,002.27.

Transat A.T. Inc (TRZ.TO) reported that it posted an adjusted net loss of $103.3 million or $2.74 per share in the quarter ended April 30, 2021, compared with an adjusted loss of $38.8 million or $1.03 per share a year ago.

Asian stocks ended mixed on Thursday as China and the United States held talks on economic issues for a third time in two weeks and U.S. President Biden revoked Trump-era bans on TikTok and WeChat. Markets looked ahead to U.S. inflation data for directional cues.

European stocks are quite subdued with investors making cautious moves, reacting to the European Central Bank's policy announcement, and looking ahead to U.S. inflation data. The ECB today left monetary policy unchanged, saying it expects net purchases under the PEPP over the coming quarter to continue to be conducted at a significantly higher pace than during the first months of the year.

In commodities, West Texas Intermediate Crude oil futures are up marginally at $70.01 a barrel.

Gold futures are down $17.30 or 0.91% at $1,878.20 an ounce, while Silver futures are lower by $0.302 or 1.08% at $27.700 an ounce.

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