Falling crude oil and metal prices, combined with subdued European markets, signal a weak opening for Canadian shares on Thursday. Investors will respond to important U.S. economic indicators and numerous earnings reports from Canadian and U.S. firms.

Loblaw Companies Ltd. (L.TO) posted adjusted net earnings of $664 million for the second quarter, up $38 million, or 6.1%, from the prior year.

FirstService Corporation (FSV.TO) delivered adjusted EBITDA of $59.1 million for the second quarter, an improvement from $55.7 million a year earlier.

Bombardier Inc (BBD.A.TO) announced adjusted net income of $111 million for the quarter ended June 2024, rising from $80 million in the same period last year.

Veren Inc. (VRN.TO) recorded net income of $261.0 million, or $0.42 per diluted share, for the quarter ended June 30, 2024.

Mullen Group Ltd. (MTL.TO) reported net income of $32.9 million for the quarter ended June 30, 2024, down from $36.5 million the previous year.

Centamin Plc (CEE.TO) achieved a profit of $83.36 million in the first half of the current fiscal year, compared to $90.97 million last year. Basic earnings per share stood at 7.19 U.S. cents, a 9% decline from 7.86 U.S. cents.

Even after the Bank of Canada's 25-basis-point interest rate cut, Canadian stocks closed lower on Wednesday, pressured by a tech sector sell-off triggered by underwhelming results from major U.S. technology companies.

The S&P/TSX Composite Index settled 174.18 points, or 0.76%, lower at 22,639.57, marking the session's bottom. It had climbed briefly into positive ground early on, reaching 22,844.82.

Asian markets tumbled Thursday as lackluster U.S. mega-cap earnings curbed enthusiasm for artificial intelligence investments. China's unexpected rate reduction highlighted ongoing struggles in the global number-two economy.

European indices traded sharply lower amid poor U.S. corporate results, worries about Chinese demand, and downbeat German business confidence figures.

On commodities, West Texas Intermediate crude oil futures fell $1.47, or 1.9%, to $76.12 per barrel.

Gold futures dropped $48.00, or almost 2%, to $2,367.70 per ounce. Silver futures declined $1.616, or 5.51%, to $27.700 per ounce, while copper futures eased $0.0330, or 0.8%, to $4.0760 per pound.

The opinions in this article reflect those of the author and may not align with Nasdaq, Inc.