Bay Street Likely To Open On Mixed Note

(RTTNews) - Canadian shares are likely to open on mixed note on Thursday, tracking mixed commodity prices and weak European stocks. Concerns about trade tensions may continue to weigh on sentiment. Also, with a long weekend ahead, investors may stay a bit wary of making significant moves.

A report from the Canadian Federation of Independent Business (CFIB) said, small business sentiment in Canada increased to 34.80 points in April from 25 points in March of 2025.

The Canadian market closed modestly higher on Wednesday after seeing considerable volatility over the course of the trading session. Energy and gold stocks gained, contributing to market's positive close.

After moving higher early in the session, the S&P/TSX Composite Index pulled back into negative territory before rebounding going into the close to end the day up 38.86 points or 0.2% at 24,106.79.

Asian stocks advanced on Thursday despite escalating U.S.-China tensions and warnings from Federal Reserve Chair Jerome Powell that trade tensions risk undermining the U.S. central bank's employment and inflation goals.

European stocks are exhibiting weakness despite a 25-basis-point rate cut announced by the European Central Bank. Worries about global growth due to trade tensions weigh on sentiment.

The ECB, which has cut its rate by 25 basis points to 2.25%, has warned of 'deteriorated' growth outlook due to trade tensions.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.66 or 1.06% at $63.13 a barrel.

Gold futures are down $9.00 or 0.28% at $3,337.40 an ounce, while Silver futures are lower by $0.650 or 1.97% at $32.330 an ounce.