Futures pointed to a higher opening for Canadian stocks on Wednesday as oil prices rebounded from three-month lows, a day after the S&P/TSX composite index tumbled to its lowest this year.
The S&P/TSX Composite Index dumped 165.21 points or 1.1%, to close Tuesday at 15,379.61, with March futures poked up 0.3%.
The Canadian dollar gained 0.13 cents to 74.37 cents U.S. early Wednesday.
Manulife Financial has been granted a licence, enabling it to launch investment products in China through a wholly-owned local subsidiary, as Beijing further liberalizes its capital markets.
Raymond James cut the rating on Halogen Software to market perform from outperform
GMP cut the target price on TransCanada Corp to $68.00 from $70.00
Canaccord Genuity cut the target price on Alimentation Couche Tard to $72.00 from $78.00
ON BAYSTREET
The TSX Venture Exchange swooned 11.68 points, or 1.5%, Tuesday to 792.87
ON WALLSTREET
U.S. stock index futures pointed to a higher open on Wednesday morning as traders eyed a probable interest rate hike from the Federal Reserve.
Ahead of the opening bell, futures for the Dow Jones Industrials moved higher 33 points, or 0.2%, to 20,836. Futures for the S&P 500 took on 4.5 points, or 0.2%, to 2,367.50. NASDAQ futures tallied 8.25 points, or 0.2%, at 5,393.75.
On the earnings front Oracle, Guess and Jabil Circuit are all due to report after the market close.
Economically speaking, the U.S. consumer price index rose 0.1% in February. Retail sales also rose 0.1% last month.
The Empire State Manufacturing Index for March was 16.4.
Business inventories for January and national association of home builders data for March are both scheduled to be released at 10 a.m ET.
The Federal Open Market Committee is poised to announce its second interest rate hike in three months -- and third in 10 years -- on Wednesday. The market consensus expects the Fed to lift rates by a quarter point on Wednesday and forecast an upbeat economic outlook for the U.S.
Oil prices added $1.05 to $48.77 U.S. per barrel.
Gold prices dipped $1.05 to $1,201.10 U.S. an ounce.
