Stock futures pointed to a lower opening for equities in Canada on Wednesday, mirroring trends in global stocks as investors showed concerns about political turmoil in the United States.
The S&P/TSX Composite Index tumbled 86.14 points to close Tuesday at 15,543.33 June futures slid 0.2% Wednesday
The Canadian dollar docked 0.02 cents to 73.45 cents U.S. early Wednesday.
Home Capital Group on Tuesday published data showing that its deposit balances were continuing to decline.
Analysts say BlackBerry is working with at least two auto makers to develop a security service that would remotely scan vehicles for computer viruses and tell drivers to pull over if they were in critical danger.
Morgan Stanley raised the target price on BCE to $62.00 from $61.00
Morgan Stanley raised the target price on TELUS to $46.00 from $44.00
Concerns have been raised that U.S. President Donald Trump's reform agenda could be slowed down, and that Trump himself could even face the threat of impeachment.
The two factors added to disappointing U.S. economic data to hit the country’s dollar and spur a pullback from richly valued stocks.
Economically speaking, manufacturing sales increased 1.0% to a record $53.9 billion in March, reflecting higher sales in the transportation equipment and food industries, according to Statistics Canada.
ON BAYSTREET
The TSX Venture Exchange gained 3.18 points Tuesday to 808.27
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Wednesday as traders become increasingly worried about political turmoil involving U.S. President Donald Trump.
Ahead of the opening bell, futures for the Dow Jones Industrials fell 83 points, or 0.4%, to 20,852. Futures for the S&P 500 slumped 9.75 points, or 0.4%, to 2,387.25. NASDAQ futures stumbled 21.25 points, or 0.4%, to 5,703.
On the earnings front, Target target posted better-than-expected quarterly results, sending the retailer's stock 6% higher. Cisco Systems, L Brands and ZTO Express are all due to report after the market close.
It has been reported that President Trump has allegedly interfered with an FBI investigation, which culminated with the firing of the agency's director.
On matters economic, the Federal Reserve Bank of New York releases its household debt and credit report for the first quarter
European markets were significantly lower by noon on the continent. In Japan, the Nikkei 225 index fell 0.5%, while the Shanghai CSI 300 lost 0.5%.
Oil prices gained 24 cents to $48.90 U.S. per barrel.
Gold prices spiked $11.10 to $1,247.50 U.S. an ounce.
Related Stories
