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Futures Quiet Ahead of Powell Speech

Disney, Array in Wednesday Picture

Futures for Canada's main stock index were muted on Wednesday, as subdued prices of gold and copper could weigh on materials stocks, while investors awaited Federal Reserve Chair Jerome Powell's remarks, due later in the day, for more clues on interest rate trajectory.

The TSX Composite collapsed 168.35 points, to close Tuesday at 19,575.59.

December futures were flat early Wednesday.

The Canadian dollar docked 0.07 cents at 72.55 cents U.S.

On the economic docket, Statistics Canada reports building permits decreased 6.5% in September to $11.2 billion.


The TSX Venture Exchange lost 0.92 points to 518.15.


U.S. stock futures were little changed Wednesday after the S&P 500 and NASDAQ notched their longest winning streaks in about two years.

Futures for the Dow Jones Industrials gained 16 points, or 0.1%, to 34,231.

Futures for the S&P 500 were unchanged at 4,396.

Futures for the NASDAQ slumped 7.75 points, or 0.1%, to 15,366.50.

Shares of Array Technologies tumbled 11.8% as the solar tracker company offered weak full-year guidance for earnings and revenue. Spirit AeroSystems, a Boeing supplier, lost 14% after announcing a plan to raise capital through stock and note offerings.

MGM Resorts, Walt Disney, and Take-Two Interactive are all set to report earnings after Wednesday’s closing bell. Investors will also watch out for September’s wholesale inventories data.

In Japan, the Nikkei 225 surrendered 0.3%, while in Hong Kong, the Hang Seng lost 0.6%.

Oil prices fell a dollar to $76.37 U.S. a barrel.

Gold prices dropped $5.10 to $1,968.40 U.S. an ounce.