Bay Street Seen Opening On Mixed Note

(RTTNews) - Canadian stocks may open on a mixed note on Thursday with investors tracking commodity prices and corporate earnings updates. Renewed fears about the disruptions to the technology sector from advancements in artificial intelligence may weigh on sentiment.

BCE Inc. reported fourth-quarter net earnings of $632 million, up 25.1%, compared to the year-ago quarter.

Canada Goose Holdings Inc. reported adjusted net income of $142.3 million, or $1.43 per diluted share for the third quarter, compared with an adjusted net income attributed to shareholders of $148.3 million, or $1.51 per diluted share in the prior year period.

The Canadian market closed on a firm note on Wednesday, as strong gains in consumer and real estate sectors outweighed weakness in tech stocks.

The benchmark S&P/TSX Composite Index ended with a gain of 175.53 points or 0.54% at 32,564.13.

In economic news, S&P Global's Composite Purchasing Managers' Index for Canada came in 46.4 in January 2026, down from 46.7 in December 2025, remaining below the 50.0 no-change mark for a third straight month.

The data revealed stable growth in manufacturing sector, though services fell to 45.8 from 46.5. New business volumes declined for the fourteenth consecutive month.

Asian stocks closed weak on Thursday, tracking overnight weakness on Wall Street where a sell-off in technology stocks gained momentum and the Nasdaq dropped to a more than 1-month low.

European stocks are broadly lower with investors largely making cautious moves, digesting the latest batch of economic data and earnings updates.

The Bank of England decided to hold its interest rate unchanged at 3.75%, as widely expected. The European Central Bank is also expected to maintain its rate current level.

In commodities trading, West Texas Intermediate Crude oil futures are down $0.64 or 0.98% at $64.50 a barrel.

Gold futures are down $59.40 or 1.2% at $4,891.40 an ounce, while Silver futures are down $6.301 or 7.47% at $78.095 an ounce.