Canada's main stock index futures edged up on Wednesday, boosted by higher gold prices as investors hedged against uncertainties around threats of new U.S. tariffs on Chinese goods.
The TSX Composite Index swooned just 0.15 points south of breakeven to close Tuesday at 16,950.70
The Canadian dollar faded 0.01 cents U.S. to 75.55 cents early Wednesday
December futures gained 0.2% Wednesday.
The Canadian Transportation Agency said on Tuesday Onex Corp will need to amend its by-laws to meet federal ownership rules related to its proposed $3.5-billion buyout deal of Canada's second-largest carrier WestJet Airlines.
Hudson's Bay investor Ortelius Advisors LP said it will vote against the department store chain’s $1.9-billion take-private deal because of what the hedge fund views as lapses in the sales process.
National Bank of Canada initiated coverage on Dundee Precious Metals with outperform rating and target price of $7.75
Jefferies raised the target price on First Quantum Minerals to $18.00 from $17.50
Jefferies raised the target price on Sierra Metals to $2.00 from $1.90.
ON BAYSTREET
The TSX Venture Exchange moved backward 1.16 points Tuesday to 536.33
ON WALLSTREET
U.S. stock index futures were little changed Wednesday morning as investors waited to hear the Federal Reserve’s latest decision on monetary policy.
Futures for the Dow Jones Industrials dropped 24 points, or 0.1%, Wednesday to 27,894.
Futures for the S&P 500 gained 2.5 points, or 0.1%, at 3,138.50.
The NASDAQ Composite jumped 15.5 points, or 0.2%, to 8,379.25.
American Eagle Outfitters and Nordson Corporation are among the companies reporting earnings today.
On the data front, inflation numbers are due out at 8:30 a.m. ET and Federal budget figures are expected at 2 p.m.
The Fed is largely expected to keep rates unchanged. But Fed Chairman Jerome Powell is also expected to signal the central bank will take appropriate measures to keep liquidity high and overnight lending rates steady to end the year. In its October meeting, the Fed decided to cut short-term lending rates to a range of 1.50% to 1.75%.
Overseas, in Japan, the Nikkei 225 doffed 0.1% Wednesday, while in Hong Kong, the Hang Seng Index was positive 0.8%.
Oil prices removed 33 cents at $58.91 U.S. a barrel.
Gold prices advanced $2.30 to $1,470.40 U.S. an ounce.
