Stock futures pointed to a lower opening in Toronto on Wednesday on growing doubts whether U.S. President Donald Trump will be able to deliver on promised tax cuts.
The S&P/TSX Composite Index descended 129.19 points to end Tuesday at 15,313.13. June futures skidded 0.2% Wednesday.
The Canadian dollar moved downward 0.11 cents to 74.74 cents U.S. early Wednesday.
Investors see the Trump administration's struggles to push through the health-care overhaul as a sign he may also face setbacks delivering promised corporate tax cuts.
Amaya Inc, the owner of online gambling sites PokerStars and Full Tilt, reported a fourth-quarter profit, compared with a year-ago loss, as it added more customers and cut costs.
Trican Well Service reportedly said it would buy smaller rival Canyon Services Group Inc in a deal valued at about $637 million, including debt.
Barclays reinstated coverage of BCE Inc. with an overweight rating
Berenberg raised the rating on First Quantum Minerals to hold from sell
NBF resumed coverage on Dream Global REIT with an outperform rating
Berenberg raised the rating on Teck Resources to buy from hold
ON BAYSTREET
The TSX Venture Exchange stumbled 7.27 points Tuesday to 804.36
ON WALLSTREET
U.S. stock index futures pointed to a lower open Wednesday amid doubts U.S. President Donald Trump may not be able to deliver campaign pledges to lower taxes and boost investment.
Ahead of the opening bell, futures for the Dow Jones Industrials retreated 35 points, or 0.2%, to 20,592. Futures for the S&P 500 dropped one point to 2,341.25. NASDAQ futures lost two points to 5,336.25
The major U.S. stock indexes suffered their worst day of the year on Tuesday as bank stocks dropped more than 4% in the previous session.
On the economic front, the Federal Housing Finance Agency will release January's home prices at 9 a.m. ET and later at 10 a.m. there will be existing home sales numbers.
In Europe, stocks were appreciably lower late Wednesday morning. In Asia, the CSI 300 in China closed 0.5% lower, while the Nikkei in Japan closed 2.1% lower.
Oil prices skidded 69 cents to $47.55 U.S. per barrel.
Gold prices gained 20 cents to $1,246.70 U.S. an ounce.
