Canada's main stock index futures fell on Wednesday, after oil prices slipped as faltering demand due to the spread of the coronavirus pandemic eclipsed a $2 trillion fiscal package from Washington.
The TSX Composite Index zoomed 1,342.59 points, or 12%, to conclude Tuesday at 12,571.08
The Canadian dollar gained 0.15 cents early Wednesday to 69.40 cents U.S.
March futures dipped 1.7% early Wednesday.
CIBC raised the target price on Emera to $55.00 from $47.00
RBC cut target price on Suncor Energy to $27.00 from $31.00
National Bank of Canada cut the target price Toronto-Dominion Bank to $62.00 from $80.00
ON BAYSTREET
The TSX Venture Exchange regained 29.56 points, or 8.4%, Tuesday to 380.75.
ON WALLSTREET
Stock futures looked to an unchanged open Wednesday following Tuesday’s historic rally in anticipation of a coronavirus stimulus deal by Congress. The White House and Senate reached an agreement overnight.
Futures for Dow Jones Industrials squirted ahead 26 points, or 0.1%, early Wednesday to 20,634.
Futures for the S&P 500 slipped 19.5 points, or 0.8%, at 2,418.50
Futures for the NASDAQ Composite faded 65.5 points, on 0.9%, to 7,489.25.
The action in the futures market followed an epic comeback on Wall Street. The Dow soared more than 2,100 points, or over 11%, notching its biggest one-day percentage gain since 1933 and its best point increase ever. The S&P 500 rallied 9.4% for its best day since October 2008.
White House and Senate leaders agreed to a massive $2-trillion coronavirus stimulus bill in the middle of the night.
Overseas, in Japan, the Nikkei 225 sprang up 8%, while Hong Kong, the Hang Seng Index took on 3.8%.
Oil prices docked 52 cents to $23.49 U.S. a barrel.
Gold prices gave back $29.30 to $1,631.50 U.S. an ounce.
