By the numbers, morning report
Aug 30, 2012 / 6:13 am
The Toronto stock market headed for a lower open Thursday despite solid earnings reports and dividend hikes from three big Canadian banks as doubts remain about whether the U.S. Federal Reserve will take more measures to boost growth.
The Canadian dollar was down 0.22 of a cent at 100.84 cents US.
U.S. futures were lower after the release of the Fed's latest regional survey Wednesday showed the pace of economic growth expanding. It also pointed to rising retail sales and loan demand, while housing markets are showing signs of improvement across most areas.
Other reports showed the economy grew faster than earlier reported in the April-June quarter, at a 1.7 per cent annual pace.
The data served to raise uncertainty over whether Fed chairman Ben Bernanke would use a speech Friday to hint at further stimulus measures.
The Dow futures were down 35 points at 13,049, the Nasdaq futures declined 10.2 points to 2,771 and the S&P 500 futures were off 3.8 points to 1,403.4.
The TSX could find support from the financial sector in the wake of reports from Royal Bank (TSX:RY), TD Bank (TSX:TD) and CIBC (TSX:CM).
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