Bay Street Likely To Open Slightly Higher

(RTTNews) - Slightly higher TSX futures and commodity prices point to a marginally positive start for Canadian stocks on Thursday. Expectations of U.S. and Iran agreeing on a peace deal this week may also support the market.

According to some reports, Tehran and Trump administration have indicated that progress has been made towards a peace deal that would open the vital Strait of Hormuz.

Data from Statistics Canada showed car registrations in Canada increased to 124,000 units in February from 114,415 units in January.

The Canadian market closed higher on Wednesday, extending gains to a third straight session, amid possibility of another round of U.S.-Iran peace talks.

The benchmark S&P/TSX Composite Index struggled a bit early on in the session, but managed to post a gain of 53.63 points or 0.16%, settling at 34,155.99.

Asian stocks recorded strong gains on Thursday as markets increased expectations of a deal to end the U.S.-Iran conflict. AI-led demand also boosted stocks in the tech space.

Amidst better-than-expected GDP readings, stocks in China finished trading on a positive note. China's economy expanded 5% year-on-year in the first quarter of 2026, versus 4.5% in the fourth quarter and beating market forecasts of 4.8%.

The major European markets are up in positive territory today with investors hoping for a resolution to the Middle East conflict.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.25 or 0.27% at $91.54 a barrel.

Gold futures are gaining $14.50 or 0.3% at $4,838.10 an ounce, while Silver futures are down $0.068 or 0.09% at $79.560 an ounce.