Futures for Canada's main stock index were flat on Wednesday as investors digested earnings from two of the country's biggest banks, while being cautious in making riskier bets ahead of annual central banks gathering later this week.
The TSX gained 10.43 points to close Tuesday to 19,985.35.
September futures for the TSX were virtually unchanged on Wednesday.
The Canadian dollar docked 24 cents to 76.92 cents U.S.
Royal Bank of Canada, Canada's second-largest lender, reported a drop in third-quarter earnings, due to higher provisions, while National Bank of Canada managed to eke out a quarterly profit beat on the back of growth in the lender's personal and commercial banking and financial markets segments.
ON BAYSTREET
The TSX Venture Exchange lost 7.21 points, or 1.1%, Monday to 642.70.
ON WALLSTREET
Stock futures rose slightly Wednesday as investors await more guidance from Federal Reserve Chairman Jerome Powell on the central bank’s tightening path.
Futures for the Dow Jones Industrials gained 47 points, or 0.1%, early Wednesday to 32,948.
Futures for the S&P 500 gathered 10.5 points, or 0.3%, to 4,141
Futures for the NASDAQ Composite hiked 40 points, or 0.3%, to 12,910.75.
Shares in Nordstrom dropped 13% in the pre-market after the luxury department store chain cut its full year outlook, despite reporting earnings that beat on profit and revenue expectations.
Pre-market shares in Bed Bath & Beyond surged 33% following a Wall Street Journal report, citing people familiar with the matter, said that the beleaguered retailer has found a financing source to shore up its liquidity.
Advance Auto Parts fell 5.9% after the company reported disappointing earnings results and lowered its outlook, citing higher inflation and fuel costs.
The three-day Jackson Hole economic symposium starts Thursday with Powell slated to speak Friday morning. Fed watchers expect him to reinforce the central bank’s goal of squashing inflation and keeping expectations about future prices gains in check.
Investors will also monitor incoming data to gauge the health of the economy. Durable goods and pending home sales are on deck for Wednesday.
In Japan, the Nikkei 225 index fell 0.5%, while in Hong Kong, the Hang Seng index sank 1.2%,
Oil prices picked up 99 cents to $94.73 U.S. a barrel.
Gold prices settled $1.80 to $1,759.40 U.S. an ounce.
Stocks Peek up After 3 Straight Losses
