Futures for Canada’s main stock index dipped on Wednesday as investor worries over tensions in Syria escalated after U.S. President Donald Trump warned Russia of a forthcoming response to a suspected chemical attack in the Asian country.
The S&P/TSX Composite Index was positive 34.44 to end Tuesday at 15,262.14
The Canadian dollar slid 0.14 cents to 79.23 cents U.S. early Wednesday
June futures collapsed 0.7% Wednesday.
Alberta on Tuesday doubled down on its pledge to financially support a troubled pipeline expansion, saying the province could buy the project outright from Kinder Morgan Canada Ltd as the federal government reiterated it was "100%" behind the build.
Taiwan’s Cathay Financial Holding said on Wednesday two of its group firms have scrapped a plan to buy Bank of Nova Scotia’s Malaysian unit as the deal could not closed before its deadline.
Canaccord Genuity cut the price target on Cenovus Energy to $14.50 from $16.00
KBW cut the price target on Intact Financial to $105.00 from $108.00
CIBC cut the price target on Westjet Airlines to $26.00 from $28.00
ON BAYSTREET
The TSX Venture Exchange leaped 10.68 points, or 1.4%, Tuesday to 776.14
ON WALLSTREET
Stock index futures dropped ahead of the open on Wednesday after President Donald Trump taunted Russia on Twitter to "get ready" for a possible missile strike on Syria.
Futures for the Dow Jones Industrial Average dumped 206 points, or 0.9%, to 24,145.
S&P 500 futures dipped 22 points, or 0.8%, to 2,633, while futures for the NASDAQ composite index dropped 55.75 points, or 0.8%, to 6,568.50
Trump said in a tweet: "Russia vows to shoot down any and all missiles fired at Syria. Get ready Russia, because they will be coming, nice and new and 'smart!' You shouldn't be partners with a Gas Killing Animal who kills his people and enjoys it!"
The president's threat comes after Russia's ambassador to Lebanon told local media that Russia would shoot down American missiles headed Syria's way. This follows an alleged chemical weapons attack by President Bashar Assad that killed dozens in a rebel-held area over the weekend.
Talk of a potential trade war continues to rattle sentiment, while Facebook kept Wall Street preoccupied Tuesday as the tech giant's CEO Mark Zuckerberg testified in front of the Senate Judiciary and Commerce committees.
He said that Facebook didn't notify the Federal Trade Commission about the data leak surrounding Cambridge Analytica, as they considered it a closed case years ago. Zuckerberg is due to speak to the House Energy and Commerce Committee on Wednesday morning.
Turmoil within the U.S. administration will remain a focus, following news that the FBI raided the New York office and residence of Trump's personal attorney Michael Cohen on Monday.
In data, mortgage applications fell last week, driven lower by another drop in refinances. The consumer price index report is released at 8:30 a.m. ET and the monthly Treasury statement at 2 p.m. ET.
The minutes from the Federal Open Market Committee's March meeting are due to be released at 2 p.m. ET. No speeches by the Federal Reserve are scheduled for Wednesday.
Meanwhile, in Japan, the Nikkei 225 wilted 0.5%, but in Hong Kong, the Hang Seng Index gained 0.6%.
Oil prices hoisted 77 cents to $66.28 U.S. per barrel.
Gold prices gained $6.70 to $1,352.60 U.S. an ounce.
