Futures for the main stock index in Canada edged lower on Wednesday, tracking Wall Street losses, on concerns over global economic slowdown.
The S&P/TSX Composite Index lost 24.62 points to close Tuesday at 15,131.78, on top of Monday’s triple-digit collapse.
The Canadian dollar gained 0.01 cents at 75.63 U.S. early Wednesday
December futures subsided 0.2% Wednesday.
Canopy Growth's net quarterly loss widened as the marijuana producer spent more in the weeks before full legalization of recreational use in mid-October.
Loblaw Cos reported a better-than-expected quarterly profit, as the retailer benefited from efforts to refurbish stores and expand its online presence.
Canada Goose Holdings handily beat analysts' quarterly profit estimates on Wednesday, driven by a strong demand for its luxury parkas, prompting the company to raise its forecast for the rest of the year.
National Bank of Canada raised the target price on Cargojet to $87.00 from $73.00
CIBC cut the rating on Continental Gold neutral from outperform.
CIBC cut the price target on West Fraser Timber to $79 from $82.
ON BAYSTREET
The TSX Venture Exchange slouched 11.85 points, or 1.9%, Tuesday to 626.42
ON WALLSTREET
U.S. stock futures pointed to a slightly higher open on Wednesday amid volatility in the oil market and as investors looked ahead to upcoming inflation data.
Futures for the Dow Jones Industrials acquired 36 points, or 0.1%, to 25,366
S&P futures took on four points, or 0.2%, to 2,731.50, while the NASDAQ Composite marched ahead 6.25 points, or 0.1%, to 6,859.25.
Macy’s and NetApp are among the firms reporting earnings Wednesday.
On Tuesday, stock markets stateside navigated through a wildly volatile session, with the Dow falling just a touch above 100 points by the close, despite a rise earlier in the session in excess of 100 points.
Oil rebounded from losses earlier in the session following Tuesday's 7% plunge. Prices had initially fallen on the back of investor angst over fears of an abundance of supply and not enough demand.
President Donald Trump earlier this week sent another warning to producer cartel OPEC (Organization of Petroleum Exporting Countries), saying he hoped the group would not cut output in a move to buoy prices.
Meanwhile, investors are looking ahead to inflation data on Wednesday. Consumer Price Index and core CPI inflation figures are due to be released at 8:30 a.m. ET.
Overseas, in Japan, the Nikkei 225 squeezed up 0.2% Wednesday, while in Hong Kong, the Hang Seng index retreated 0.5%.
Oil prices progressed 57 cents to $56.26 U.S. a barrel.
Gold prices moved higher 80 cents to $1,202.20 U.S. an ounce.
