Futures Lose Ground

Advantage, Boardwalk in Focus

Futures for Canada's main stock index fell on Wednesday, dragged down by weakness in gold prices, while investors awaited the central bank's interest rate decision due later in the day.

The TSX gained 49.05 points to conclude trading Tuesday at 20,084.35

The Canadian dollar gained 0.02 cents to 82.79 cents U.S.

June futures were down 0.3% Wednesday.

TD Securities raised the target price on Advantage Oil & Gas to $3.25 from $2.50.

TD Securities also raised the target price on Boardwalk REIT to $48.00 from $47.00

CIBC raised the rating on Canadian Western Bank to outperform from neutral.

On the economic calendar, the Bank of Canada is due out this morning (10 a.m. EDT) with its interest rate announcement. Last month, the central bank again held its target for the overnight rate at the effective lower bound of 0.25%, with the Bank Rate at 0.5% and the deposit rate at 0.25%

Prime Minister Justin Trudeau, under pressure to lift COVID-19-related restrictions along the U.S. border, said on Tuesday that Ottawa would disclose in coming weeks how some measures could be relaxed for fully vaccinated people.


The TSX Venture Exchange handed back 4.4 points Tuesday to 972.65.


Stock futures traded flat on Wednesday as Wall Street appeared range-bound near record levels.

Futures for the Dow Jones Industrials let go of eight points to 34,578.

Futures for the S&P 500 gained 5.75 points, or 0.1%, to 4,231.50.

Futures for the NASDAQ Composite regained 42.25 points, or 0.3%, to 13,853.75.

Trading was quiet in the pre-market though reopening plays like Carnival Corp. and American Airlines gained.

Meme stock mania was set to continue Wednesday with day traders now focusing their attention on Clover Health. The stock was up another 23% in premarket trading following an 85% rally on Tuesday amid explosive trading volumes.

Wendy’s, another name popular among Reddit traders, gained 25% Tuesday and was higher again in premarket trading Wednesday.

Overseas, in Japan, the Nikkei 225 retreated 0.4% Wednesday, while in Hong Kong, the Hang Seng index lost 0.1%.

Oil prices gained 35 cents to $70.40 U.S. a barrel.

Gold prices slid $2.50 to $1,891.90 U.S.