Futures pointed to a higher opening for Canada's main stock index on Wednesday as oil prices surged after faults on a major pipeline dented Canadian deliveries to the United States.
The S&P/TSX Composite Index gained 72.25 points to conclude Tuesday trading at 16,076.65
The Canadian dollar improved 0.21 cents at 78.5 cents U.S. Wednesday morning.
December futures climbed 0.2% Tuesday.
TransCanada Corp has told some customers that it will cut deliveries by 85% or more on its 590,000-barrel-per-day Keystone crude pipeline through to the end of November, according to three sources familiar with the matter.
The United States, Mexico and Canada failed to resolve any major differences in a fifth round of talks to rework the NAFTA trade deal, drawing a swift complaint from the Trump administration on Tuesday that the lack of progress could doom the process.
The federal government proposed on Tuesday mandatory health warnings and child-proof packaging as well as a licensing regime for all cannabis products in legislation ahead of the July 2018 legalization of recreational marijuana.
Canaccord Genuity raised the price target on BRP Inc. to $51.00 from $50.00
CIBC cut the price target on George Weston Ltd. to $119.00 from $123.00
Credit Suisse raised the price target on Pan American Silver to $25.00 from $24.00
ON BAYSTREET
The TSX Venture Exchange squeaked higher 0.42 points Tuesday to 794.55
ON WALLSTREET
U.S. stock index futures pointed to a mixed to slightly higher open Wednesday, as investors geared up for another fresh batch of data and awaited the latest minutes release by the Federal Reserve.
Futures for the Dow Jones Industrials jumped 41 points, or 0.2%, to 23,584
S&P 500 futures moved higher 2.5 points, or 0.1%, at 2,598.75, while futures on the NASDAQ Composite index gained 9.75 points, or 0.2%, to 6,389.25
Deere reported better-than-expected earnings, sending its stock higher by 3.1% in the pre-market.
On Monday, U.S. President Donald Trump said before a Cabinet meeting that the administration was going to "give the American people a huge tax cut for Christmas", according to the Associated Press.
Concerns still linger on Wall Street as to whether a deal will come about and finalized by the end of the year, however.
Investors will also be keeping an eye on the publication at 2 p.m. ET Wednesday of the latest minutes from the last FOMC meeting, which took place from October 31 to November 1.
Looking to data, mortgage applications rose 5% last week. Jobless claims and durable goods orders were due at 8:30 a.m. ET. Consumer sentiment is then set to come out at 10 a.m. ET.
Overseas, European stocks rose nearing noon local time, while Japan’s Nikkei 225 gained 0.5%, and in Hong Kong, the Hang Seng Index jumped 0.6%, to crack the 30,000-point level for the first time.
Oil prices took on $1.07 to $57.90 U.S. per barrel.
Gold prices shone brighter $3.40 to $1,285.10 U.S. an ounce.
