(RTTNews) - Canadian stocks may head lower on Thursday, adding to weakness seen late yesterday. Lower commodity prices and some disappointing earnings news could weigh on the market.

Crude oil prices dropped 78 cents to $80.59 per barrel, gold lost $7.50 to $1,057.00 per ounce and copper declined 2.7 cents to $3.0009.

In corporate news, Potash Corporation of Saskatchewan (POT.TO) reported third-quarter net earnings of US$248.8 million or US$0.82 per share, compared to US$1.2 billion or US$3.93 per share, in the same quarter last year.

Precision Drilling Trust (PD_U.TO:) reported third quarter net income of C$72 million or C$0.25 per unit, compared to C$82 million or C$0.61 per unit last year.

Husky Energy (HSE.TO) reported third-quarter net earnings of C$338 million or C$0.40 per share compared with C$1.27 billion or C$1.50 per share in the same quarter last year.

Cangene Corp. (CNJ.TO) reported full-year net income of C$59.9 million or C$0.86 per share, compared with C$29.6 million or C$0.42 per share a year earlier.

On the economic front, Canadian retail sales data increased 0.8% in August, according to data released Thursday morning. A rise of 0.1% is forecast, compared to a revised drop of 0.5% in July. Excluding autos, sales rose 0.5% after falling a revised 0.7% in July.

On Wednesday, the S&P/TSX Composite Index fell 96.10 points or 0.83% to close at 11,442.02. The market moved notably lower in the final hour of trading.

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Posted in Categories: Canada, Releases, Stocks, USA.

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