Bay Street Likely To Open On Mixed Note; Trade Talks, Earnings In Focus

(RTTNews) - Canadian shares are likely to open on a mixed note Thursday morning with investors focusing on trade talks between Canadian and U.S. officials, and reacting to the latest batch of economic data.

The focus will also be on U.S. President Donald Trump's visit to the Federal Reserve today. Ahead of next week's policy meeting of the Fed, the visit looks significant.

Data from Statistics Canada showed retail sales in Canada dropped by 1.1% in the month of May, after a 0.4% increase in the previous month.

According to preliminary estimates, retail sales in Canada increased 1.6% in June over the previous month.

Manufacturing sales in Canada likely moved up 0.4% in June, according to preliminary estimates.

Investors will also be digesting a slew of earnings announcements from big name Canadian companies.

Loblaw Companies reported adjusted net earnings of $721 million for the second-quarter, an increase of $57 million , or 8.6%, compared to a year-ago.

The company also announced that its Board approved a stock split of the company's outstanding common shares. The split will be implemented by way of a stock dividend where Loblaw will issue to shareholders three additional common shares for each common share held. The stock split will not dilute shareholders' equity.

FirstService Corp (FSV.TO) reported adjusted EPS of $1.71 for the quarter ended June 2025, compared with $1.36 in the year-ago quarter.

Mullen Group (MTL.TO) reported a net income of $25.6 million in the second-quarter of 2025, compared to $32.9 million in the year-ago quarter.

Canadian stocks closed higher on Wednesday, tracking positive cues on the tariff front as US confirmed major trade deals with Japan and the Philippines.

The benchmark S&P/TSX Composite Index settled at a fresh record high of 27,416.41, up by 51.98 or 0.19%.

US President Donald Trump announced a trade pact between the US and Japan under which Japanese imports will face 15% tariff against the earlier said 25%.

Asian stocks advanced on Thursday as companies like Alphabet and SK Hynix posted encouraging earnings and media reports suggested that the EU and U.S. are closing in on a trade deal that would impose 15 percent tariffs on European imports.

European stocks are extending gains from the previous session, amid rising optimism over a potential trade deal between the U.S. and EU. Investors are also reacting to a slew of corporate earnings updates.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.80 or 1.25% at $66.05 a barrel.

Gold futures are down $30.10 or 0.89% at $3,367.50 an ounce, while Silver futures are down $0.213 or 0.53% at $39.300 an ounce.