Stock futures pointed to a lower opening for Canada's main stock index on Wednesday as concerns mount over waning global economic growth.
The S&P/TSX composite index hurtled lower 166.67 points, or 1.1%, to close Tuesday at 14,576.45, with Wednesday futures off 0.1%.
The Canadian dollar was flat at 89.51 cents U.S. early Wednesday
Canadian pharmacy chain Jean Coutu Group reported higher quarterly sales, helped by demand for generic drugs and the expansion of its network of franchised stores.
A European Union plan to label Canadian tar sands oil as highly polluting as part of its fight against climate change has been abandoned after years of opposition from Canada, clearing the way for exports of tar sands crude to the European market.
ON BAYSTREET
The TSX Venture Exchange dipped 13.15 points Tuesday to 854.83.
ON WALLSTREET
Experts say it looks like markets are steadying Wednesday after enduring sharp losses over the previous trading session.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 36 points, or 0.2%, to 16,687. Futures for the S&P 500 picked up 4.75 points, or 0.3%, to 1,932.75, and futures for the NASDAQ advanced 7.75 points, or 0.2%, to 3,964.
Costco and Monsanto report quarterly results before the opening bell. Alcoa and restaurant chain Ruby Tuesday will report after the close.
Shares in Air France KLM fell by more than 2% in Europe after the carrier said that a recent strike by pilots cost the company up to €350 million ($440 million U.S.) in the third quarter.
Keep an eye on shares in Yum! Brands. The parent company of KFC and Pizza Hut slashed its profit expectations. It has been struggling to recover from a tainted meat scandal in China, and the stock is down by just over 15% in three months.
The U.S. Federal Reserve is expected to release the minutes from its September meeting at 2 p.m. ET.
European markets were pushing further into the red in early trading. The International Monetary Fund slashed its forecast for euro-zone growth Tuesday. Most markets in Asia also declined overnight.
Oil prices dipped 67 cents to $88.18 U.S. a barrel
Gold prices jumped $4.50 to $1,216.90 U.S. an ounce.
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