Futures pointed to a lower opening for stock markets in Canada on Wednesday as investors awaited a fresh batch of corporate earnings.
The S&P/TSX Composite Index fell 82.88 points to close Tuesday at 15,569.20. June futures fell 0.1% Wednesday
The Canadian dollar gained 0.05 cents to 73.01 cents U.S. early Wednesday.
Linamar Corp, Sunopta Inc and Gluskin Sheff + Associates are some of the companies scheduled to report quarterly results later in the day.
Bombardier Inc faced fresh pension fund opposition to the re-election of its executive chairman and the Quebec government said the plane and train maker should listen to the growing number of institutional shareholders citing governance concerns.
Insurer Sun Life Financial reported a smaller-than-expected profit on Tuesday, hurt by weak growth in its U.S market.
CIBC raised the target price on CCL Industries to $340.00 from $320.00
National Bank of Canada cut the price target on Sun Life Financial to $52.00 with an outperform
CIBC raised the price target on Western Forest Products to $2.50 from $2.25
ON BAYSTREET
The TSX Venture Exchange stumbled 5.94 points Tuesday to 774.14
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Wednesday, as investors prepared to wade through new data and earnings, while keeping a close eye on the potential fallout from President Trump's decision to fire the director of the Federal Bureau of Investigation.
Ahead of the opening bell, futures for the Dow Jones Industrials docked 33 points, or 0.2%, to 20,874. Futures for the S&P 500 dipped 1.5 points, or 0.1%, to 2,391.75. NASDAQ futures inched up 0.5 points to 5,676.75.
On Tuesday, Trump terminated James Comey's role at the FBI, saying in a letter that it was "essential that we find new leadership for the FBI that restores public trust and confidence in its vital law enforcement mission.
Stepping aside from politics, a whole host of U.S. companies are set to report earnings on Wednesday, with Sotheby's, Time, Wendy's, Whole Foods and 21st Century Fox expected to be of key focus.
On Wednesday, Snap's first earnings report since its IPO will be under close watch, with investors looking to see if Snap has been able to re-accelerate its user base following a drop last quarter, and whether it can ramp up its ad growth.
In data news, Mortgage Applications are set to be released this morning, followed by import prices and oil inventories.
Oil prices gained 55 cents to $46.43 U.S. per barrel.
Gold prices strengthened $6.80 to $1,222.90 U.S. an ounce.
