North American stock market futures are down on Wednesday as European leaders sit down for yet another meeting on the region’s debt crisis.
The S&P/TSX Composite Index soared 171.07 points, or 1.5%, to end Tuesday at 11,451.71
The Canadian dollar traded this morning down 0.06cents to 98.24 cents U.S.
Stocks to watch this morning include Bank of Montreal, Canada’s fourth largest bank by assets, which reported a 27% increase in profit for its fiscal second quarter.
On the economic calendar, Statistics Canada reported this morning that Canadian retail sales rose by 0.4% in April, to $39.1 billion, a new record, powered largely by auto and clothing sales.
ON BAYSTREET
The TSX Venture Exchange leaped 18.87 points to 1,246.75, while the Nasdaq Canada dropped 3.66 points to 362.71.
ON WALLSTREET
It also looked to be a downward day in New York
Futures for the Dow Industrials backtracked 79 points, or 0.6%, to 12,398 with half an hour before the opening bell, while futures for the broader S&P 500 dipped 10.9 points, or 0.8%, to 1,303.90, and futures for the tech-rich Nasdaq ducked back 14.75 points, or 0.6%, to 2,520.5.
Meanwhile, there are further signs that Europe’s troubles are weighing on the global economy. Japan gave a disappointing report on its exports on Wednesday and the U.S. Congressional Budget Office warned that the United States could fall back into recession without continued stimulus, including tax cuts.
Overseas, Hong Kong’s Hang Seng index was down 1.3%, Japan’s Nikkei 225 index slid 2%. In Europe, London’s FTSE 100 index was down 1.8%, France’s CAC 40 down 2.1%, Germany’s DAX index stumbled 1.7%.
Oil was down 81 cents U.S. to $91.04 a barrel. Gold was down 1% to $1,561.10 U.S. an ounce
Related Stories
