Futures on Canada’s main stock index were little changed on Wednesday as oil prices edged lower after an industry report showed an increase in U.S. crude inventory.
The S&P/TSX Composite Index dipped 34.8 points to close Tuesday’s session at 15,281.22. September futures prospered 0.2% early Wednesday.
The Canadian dollar hiked 0.56 cents to 76.45 U.S. early Wednesday.
RBC cut the target price on Aritzia Inc., to $21.00 from $23.00
TD Securities cut the target price on Sandvine Corp. to $4.15 from $4.50
CIBC cut the rating on Gildan Activewear to neutral from outperform
ON BAYSTREET
The TSX Venture Exchange shed 2.05 points Tuesday to 769.86
ON WALLSTREET
U.S. stock index futures pointed to a mixed open on Wednesday, as investors turned their attention to upcoming data releases, while keeping a watchful eye on moves in the tech and oil sectors.
Ahead of the opening bell, futures for the Dow Jones Industrials poked up 22 points, or 0.1%, to 21,313. Futures for the S&P 500 gained 4.25 points, or 0.2%, to 2,424.75. NASDAQ futures took on 6.25 points, or 0.1%, to 5,682.75, as large-cap tech stocks like Facebook and Apple traded lower in the pre-market.
Tech stocks were under pressure Tuesday after EU regulators hit Google with a 2.4-billion-euro ($2.7-billion U.S.) fine, stating that the tech giant had violated antitrust rules when it came to its online shopping practices.
Elsewhere, Monsanto, General Mills, Paychex, and Pier 1 Imports are set to report earnings on Wednesday.
Economically speaking, mortgage applications fell 6% last week. International trade in goods data and pending home sales are due later this morning.
The American Petroleum Institute (API) said on Tuesday that U.S. crude inventories rose by 851,000 barrels last week, while analysts expected a decline. The API said inventories of gasoline and distillates also increased.
European markets were trading in the red as of noon on the continent, while in Asia, the Nikkei 225 in Japan dropped 0.5%, while Shanghai’s CSI 300 subtracted 0.8%
Oil prices caved 16 cents to $44.08 U.S. per barrel.
Gold prices acquired $6.20 to $1,253.10 U.S. an ounce.
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