Canada's stock index futures rose on Wednesday, helped by higher crude oil prices, while investors assessed earnings from Royal Bank of Canada and National Bank of Canada.
The TSX was in the red 52.5 points to wind up Tuesday at 31,049.28.
December futures were up 0.2% Wednesday.
The Canadian dollar gained 0.14 cents to 71.72 cents U.S.
On Wednesday, Royal Bank of Canada reported a rise in fourth-quarter profit, as the lender was helped by strength in its capital markets segment.
National Bank of Canada also reported a rise in fourth-quarter profit, helped by a robust performance in its wealth management segments.
In other corporate news, Manulife Financial announced the pricing of $1 billion senior notes due 2035.
ON BAYSTREET
The TSX Venture Exchanged settled 3.58 points Tuesday to 936.33.
ON WALLSTREET
Stock futures climbed Wednesday as traders looked to build on the slight gains from the previous session.
Futures for the Dow Jones Industrials docked 88 points, or 0.2%, to 47,632
Futures for the S&P 500 gained 13.75 points, or 0.2%, to 6,854.
Futures for the NASDAQ surged 41.25 points, or 0.2%, to 25,646.25.
Shares of Marvell Technology gained more than 10% as Wall Street reacted to its data center growth projections. American Eagle Outfitters also rallied more than 12% after the retailer lifted its full-year forecast, saying the holiday shopping season was off to strong start.
The major indexes rose on Tuesday as tech stocks such as Nvidia rose and bitcoin gained, one day after the flagship cryptocurrency logged its worst day since March.
The flagship digital currency kept rising on Wednesday, trading back above $92,000.
Investors are gauging the possibility of year-end rally, as December trading historically bodes well for U.S. stocks and because November was such a downbeat month as profit-taking trimmed valuations for some high-flying names.
Traders are optimistic about corporate earnings results and are looking ahead to the Federal Reserve’s interest rate decision on Dec. 10. Markets are pricing a roughly 89% chance of a cut during the upcoming meeting, which is much higher than the odds from mid-November.
Overseas, the Nikkei 225 in Japan gained 1.1% while in Hong Kong, the Hang Seng Index sputtered 1.3%.
Oil prices took on 75 cents to $59.36
Gold prices captured $16.90 to $4,237.70.
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