Canada's main stock index was set to open lower on Wednesday as oil prices slipped following a report showing U.S. oil inventory increased.
The S&P/TSX Composite recovered 29.45 points to add to Monday’s all-time high at 15,786.03, with March futures off 0.1% Wednesday.
The Canadian dollar was unchanged at 76.44 cents U.S. early Wednesday.
Teck Resources reported better-than-expected quarterly results, helped by higher realized prices.
Shopify Inc, reported a bigger quarterly loss as operating expenses jumped 80%
CIBC raised the target price on Bank of Montreal to $101.00 from $100.00
RBC started coverage on Enerflex with an outperform rating, and a $22.00 target price
CIBC raised the target price on Royal Bank of Canada to $99.00 from $98.00
On the economic ledger, Statistics Canada reported that manufacturing sales increased for the second consecutive month, up 2.3% to $53.5 billion in December, following a revised increase of 2.3% in November.
The agency attributed the growth to higher sales of transportation equipment, as well as petroleum and coal products.
Finally, the European Union and Canada secured clearance for their contentious free trade deal and the removal of import duties that supporters say will boost growth and jobs on both sides of the Atlantic.
ON BAYSTREET
The TSX Venture Exchange stumbled 1.92 points to end Tuesday 835.32
ON WALLSTREET
U.S. stock index futures pointed to a mixed open on Wednesday as traders took on further comments from the Federal Reserve as well as a host of earnings reports and economic data.
Ahead of the opening bell, futures for the Dow Jones Industrials added 10 points, or 0.1%, to 20,492. Futures for the S&P 500 dipped 2.75 points, or 0.1%, to 2,334.25. NASDAQ futures fell 3.25 points, or 0.1%, at 5,271.75.
On the earnings front, PepsiCo is among the companies that reported before the bell. Avis Budget, Chemours and CF Industries are among the other companies of interest all due to report after the market close.
On the data front, Wednesday will see consumer price index and retail sales released this morning. Industrial production and capacity utilization, as well the National Association of Home Buyers (NAHB) survey are to be released slightly later.
Federal Reserve Chair Janet Yellen is due to testify before the House Financial Services Committee for a second consecutive day. Her comments regarding U.S. economic policy on Tuesday triggered a bond market rout and helped drive stocks to new highs.
European markets were higher by noon on the continent. In Asia, the CSI 300 in Shanghai Composite closed 0.4% lower, while the Nikkei in Japan closed 1% higher.
Oil prices retreated 36 cents to $52.84 U.S. a barrel
Gold prices gained $1.30 to $1,226.70 U.S. an ounce.
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