Bay Street Likely To Open Higher

Canadian shares are likely to open higher on Thursday as firm metal prices and rising optimism about the Federal Reserve slowing its pace of interest rate hikes are expected to lift sentiment.

Trading volumes may be thin as Wall Street is closed for Thanksgiving Day.

A report from the Canadian Federation of Independent Business showed small business sentiment in Canada dropped to a score of 50 in November from 51.4 a month earlier.

Data on average weekly earnings in Canada for the month of September is due at 8:30 AM ET. Average weekly earnings of non-farm payroll employees in Canada rose by 3.2% year-on-year to C$ 1,170.14 in August of 2022, rising for the 15th consecutive month.