Canada's main stock index edged lower on Wednesday as oil prices dipped on concerns that the Organization of the Petroleum Exporting Countries could increase crude output to make up for any shortfalls in supply from Iran and Venezuela
The S&P/TSX Composite Index dipped 36.54 points to greet noon at 16,108.25
The Canadian dollar was down 0.38 cents at 77.63 cents U.S.
Among financials, shares of Royal Bank of Canada and Bank of Nova Scotia both dipped 0.5% and were the biggest drags on the financial index.
The largest percentage gainers on the TSX were Eldorado Gold, which jumped five cents, or 3.6%, to $1.46, and Prometic Life Sciences, which rose two cents, or 2.5%, to 83 cents.
Canopy Growth Corp fell 64 cents, or 1.6%, to $38.80, followed by First Quantum Minerals, down $1.10, or 5%, to $20.80.
The most heavily traded shares by volume were Nemaska Lithium, down 20 cents, or 17%, to 98 cents after the lithium miner said on Tuesday it had secured funding of up to $402 million from investors.
ON BAYSTREET
The TSX Venture Exchange sank 4.59 points to 783.26
Eight of the 12 TSX subgroups, with gold shining 1.4%, consumer staples, up 0.8%, and information technology bettering itself 0.7%.
The four laggards were weighed down by 1%, financials, off 0.6%, and consumer discretionary stocks off 0.1%.
ON WALLSTREET
U.S. stocks fell Wednesday after retail giant Target reported earnings that missed expectations while trade talks with China remained uncertain after President Donald Trump said the current dealmaking may be "too hard to get done."
The Dow Jones Industrials tumbled 144.17 points to 24,690.24, as Goldman Sachs and UnitedHealth led the blue-chip index lower.
The S&P 500 dropped 10.22 points to 2,714.22, amid a 1.3% decline in financials stocks and a 0.7% decline in energy stocks.
The NASDAQ faltered 10.62 points to 7,367.83, as Apple, Amazon and Microsoft all weighed on the index.
The moves lower in financials and energy came as both interest rates and oil prices dropped; Citigroup and Bank of America were each down more than 2%, while Chevron fell 0.7%.
Uncertainty over the future of trade agreements between the United States and China has kept stocks on edge over the past two days after the Trump administration said it wasn't satisfied with the current discussions.
The president downplayed expectations for a deal Wednesday, suggesting a new direction for talks between the world's economic powerhouses.
On the data front, there were flash manufacturing and services purchasing managers' index figures and new home sales due this morning.
Minutes from the Federal Reserve's latest meeting will be released at 2 p.m. ET.
Prices for the benchmark for the 10-year U.S. Treasury were higher, lowering yields to 3.02% from Tuesday’s 3.06%. Treasury prices and yields move in opposite directions.
Oil prices ditched 21 cents at $71.99 U.S. a barrel.
Gold prices skidded $3.30 at $1,288.70 U.S. an ounce.
