Stocks To Clear Breakeven at Open

RBC, TransCanada in Focus

Stock futures pointed to a higher opening for Canada's main stock index on Wednesday following Royal Bank of Canada's strong quarterly results.

The S&P/TSX Composite Index rolled lower 12.48 points to close Tuesday at 16,029.64

The Canadian dollar gave back 0.06 cents at 77.97 cents U.S. Wednesday morning.

December futures were up 0.1% Wednesday.

Royal Bank of Canada reported fourth-quarter earnings that beat market expectations helped by strong growth in its retail banking, investment banking and wealth management businesses.

TransCanada Corp's Keystone crude pipeline must operate at a 20% pressure reduction after it re-starts, the U.S. pipeline regulator said on Tuesday, nearly two weeks after the line was shut after it leaked 5,000 barrels of oil in South Dakota.

CIBC raised the price target on Alimentation Couche-Tard to $77.00 from $71.00

RBC raised the target price on Bank of Nova Scotia to $91 from $87

RBC cut the target price on Mountain Province Diamonds to $3.70 from $4.40

ON BAYSTREET

The TSX Venture Exchange lost 3.69 points Tuesday to 791.70

ON WALLSTREET

U.S. stock index futures pointed to a higher open Wednesday, as Wall Street looked to build on a strong performance from the previous session.

Futures for the Dow Jones Industrials gained 69 points, or 0.3%, to 23,594

S&P 500 futures picked up 2.25 points, or 0.1%, at 2,628.25, while futures on the NASDAQ Composite index increased 1.75 points to 6,422

A new batch of data is set to keep investors busy. At 7 a.m. ET, mortgage applications are due out, followed by the all-important GDP data for the U.S., which is set to be released at 8:30 a.m. ET.

The pending homes sales index is then due to be released at 10 a.m. ET, while the U.S. central bank's Beige Book is expected at 2 p.m. ET.

Overseas, European stocks ticked higher ahead of noon local time, while Japan’s Nikkei 225 recovered 0.5%, and in Hong Kong, the Hang Seng Index weakened 0.2%

Oil prices fell 16 cents to $57.83 U.S. per barrel.

Gold prices slipped $4.90 to $1,294.30 U.S. an ounce.