Futures pointed to a higher opening for Canada's main stock index on Wednesday ahead of a decision on interest rates from the Bank of Canada.
The S&P/TSX Composite Index fell 72.93 points by the end of Tuesday’s session to 16,298.88
The Canadian dollar deleted 0.07 cents to 80.41 cents U.S. Wednesday morning.
March futures galloped 0.4% Wednesday.
Imperial Capital cut the rating on Absolute Software to in-line from outperform
National Bank of Canada initiated coverage on Troilus Gold with an outperform rating
The central bank will make its next interest rate announcement at 10:00 a.m. ET and markets widely expect the central bank will raise rates to 1.25% on the back of strong jobs growth, even amid uncertainty around the fate of the North American Free Trade Agreement.
ON BAYSTREET
The TSX Venture Exchange faltered 7.92 points Tuesday to 888.27
ON WALLSTREET
Futures for stock indices south of the border posted sharp gains before Wednesday's open on the back of strong quarterly results from some of the biggest banks in the world.
Futures for the Dow Jones Industrials rose 117 points, or 0.5%, to 25,936,
S&P 500 futures gained 9.75 points, or 0.4%, to 2,792.25, while futures on the NASDAQ Composite surged 22 points, or 0.3%, to 6,784.25
Concerns over a possible government shutdown, however, weighed on market sentiment, causing major markets to end in the red.
By the end of Friday, Congress has to pass a spending bill in order to prevent a government shutdown; however, Democrats and Republicans remain at odds over an immigration bill that the Democratic Party wants to pass.
Looking to today's trade, earnings and economic data is expected to sway sentiment. Bank of America reported better-than-expected earnings, sending shares slightly higher. Alcoa is scheduled to report after the close on Wednesday.
On the data front, the business leaders' survey was set for release at 8:30 a.m. ET and industrial production data at 9:15 a.m. ET.
At 10 a.m. ET, the NAHB/Wells Fargo Housing Market Index is set to be released, while the Federal Reserve's Beige Book is due at 2 p.m. ET and the Treasury International Capital data at 4 p.m. ET.
Overseas, Japan’s Nikkei 225 index hesitated 0.4%, while in Hong Kong, the Hang Seng Index gained 0.3%.
Oil prices dipped 10 cents to $63.63 U.S. per barrel.
Gold prices docked $1.20 to $1,335.90 U.S. an ounce.
