Futures for Canada's main stock index inched lower on Wednesday as gold and oil prices dipped, with investors watching developments around the Middle East conflict and U.S. President Donald Trump's visit to China.
The TSX Composite Index recovered 151.85 points to conclude Tuesday at 34,290.73.
June futures edged down 0.04% Wednesday.
The Canadian dollar eked up 0.02 cents to 73.03 cents U.S.
Trump said he would urge China's Xi Jinping to "open up" to U.S. business on his way to a summit in Beijing.
Oil prices dipped, snapping a three-day rally as investors were uncertain about developments in the war. The stalling of U.S.-Iran peace talks this week has dimmed reopening prospects for the Strait of Hormuz, through which about a fifth of global oil and liquefied natural gas normally flows.
Equinox Gold said it would acquire Orla Mining in a deal that would create a North American-focused gold producer with an implied market value of about $18.5 billion.
Collision repair operator Boyd Group's first-quarter sales rose 28% but slightly missed analyst expectations.
ON BAYSTREET
The TSX Venture Exchange recovered 12.13 points, or 1.2%, Tuesday to 1,017.71
ON WALLSTREET
S&P 500 and NASDAQ futures rose on Wednesday, led by gains in chipmaker names, while traders looked ahead to the release of another major inflation report.
Futures for the Dow Jones Industrials settled 148 points, or 0.3%, to 49,721.
Futures for the S&P 500 gathered 13.25 points, or 0.2%, to 7,439.75
Futures for the NASDAQ barreled ahead 184.25 points, or 0.6%. to 29,354.25.
Nvidia shares traded higher by more than 2% in the premarket. Advanced Micro Devices climbed nearly 2%, while Micron Technology gained more than 5%.
The move comes after Nvidia CEO Jensen Huang joined President Donald Trump on his trip to China to meet Chinese President Xi Jinping.
The S&P 500 and NASDAQ slipped from all-time highs on Tuesday following the release of hotter-than-expected U.S. consumer inflation data.
Traders will look forward to the release of another inflation report on Wednesday morning — April’s producer price index.
Economists polled by Dow Jones are expecting a headline increase of 0.5% on the month, in line with March’s rate. Excluding volatile food and energy prices, this number is expected to come in at a 0.4% rise.
In Japan, the Nikkei 225 jumped 0.8% Wednesday, while the Hang Seng index in Hong Kong acquired 0.2%
Oil prices lost eight cents to $102.10 U.S. a barrel.
Gold prices brightened $19.70 to $4,706.40 U.S an ounce.
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