Stock futures pointed to a lower opening for Canada's main stock index on Wednesday as investors awaited the Bank of Canada's decision on interest rates.
The S&P/TSX Composite finished Tuesday negative by 37.93 points to 15,441.36. March futures were down 0.03% early Wednesday.
The Canadian dollar faded 0.28 cents to 76.27 cents U.S. early Wednesday
Cameco Corp on Tuesday said it expected its 2016 adjusted profit to be significantly lower than analysts' estimates and also said it would cut 120 jobs at three of its uranium mines in 2017.
A union leader said striking workers at Yamana Gold Inc's El Peñón mine in Chile have reached a wage agreement with the Canadian miner, allowing for the mine to reopen on Wednesday.
CIBC raised the rating on Aecon Group to outperformer from neutral
Barclays raised the target price on Trilogy Energy to $7.00 from $6.00
The Bank of Canada is widely expected to hold interest rates at 0.5%. Investors will parse the central bank's monetary policy report, due at 10:00 a.m. ET, for any insight as to what impact the economic policies of U.S. President-elect Donald Trump could have on Canada.
Elsewhere on the economic calendar, Statistics Canada reported that in November, 574,500 people received regular Employment Insurance benefits, essentially unchanged from the previous month.
ON BAYSTREET
The TSX Venture Exchange eked up 1.29 points Tuesday to 796.83
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Wednesday as traders digested a host of corporate earnings and data, while poring over comments from Federal Reserve Chair Janet Yellen.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 39 points, or 0.2%, at 19,782. Futures for the S&P 500 picked up five points, or 0.2%, to 2,267.75. NASDAQ futures advanced 12.5 points, or 0.3%, at 5,052.75
On the earnings front Wednesday, Citigroup reported mixed quarterly results, with earnings per share topping consensus estimates while sales missed. Goldman Sachs reported better-than-expected results on the top and bottom line.
Netflix is among companies set to report after the bell.
On the data front, Consumer Price Index rose 0.3% in December, showing a 2.1% year-over-year increase, which is above the Fed's inflation target of 2%
Industrial production and capacity utilization are due for release at 9:15 a.m. The NAHB housing index is due at 10 a.m., with the Fed's Beige Book expected at 2 p.m.
Yellen is due to give a speech at the Commonwealth Club in San Francisco, at 3 p.m. ET.
European stocks were slightly lower by noon on the continent, while Asian issues were mostly higher, with Hong Kong climbing 1.1%.
Oil prices dropped 77 cents to $51.71 U.S. a barrel
Gold prices fell 70 cents to $1,212.70 U.S. an ounce.
