Stock futures pointed to a higher opening for Canada's main stock index as gold and oil prices rose, ahead of a U.S. Federal Reserve policy statement later in the day.
The S&P/TSX composite index faltered 91.3 points to close Tuesday at 13,699.60.
The Canadian dollar gained 0.16 cents to 75.54 cents U.S. early Wednesday
Canadian National Railway Co on Tuesday reported an 18% rise in quarterly profit, as higher freight rates helped lift revenue despite lower volumes. Its net income rose to $1.01 billion, or $1.26 per share, in the third quarter from $853 million, or $1.04 per share, a year earlier.
Revenue rose 3.3% to $3.22 billion. Analysts had forecast earnings per share of $1.15. It also announced a share-buyback program and a fourth-quarter 2015 dividend of $0.3125 on its common shares.
MEG Energy posted a quarterly operating loss compared with a year-ago profit, hurt by weak commodity prices and higher expenses. Its operating loss was $87 million, or 39 cents per share, in the third quarter, compared with an operating profit of $87 million, or 39 cents per share, a year earlier. Revenue fell 35% to $460 million.
Activist firm ValueAct is meeting with other large investors in Valeant Pharmaceuticals International as the company aims to rally support amid allegations of improper accounting and aggressive pricing.
CIBC cut the price target on DH Corp to $38.00 from $44.00, believing that management addressed several concerns, but questions around Fundtech organic growth remain.
CIBC cut the target price on Painted Pony Petroleum to $6.50 from $8.00 based on the company’s lofty valuation, buoyed by strong growth expectations, and the ability to fund that growth in light of a weak gas price environment.
Agnico Eagle Mines is out with Q3 numbers, expecting earnings of two cents per share
Barrick Gold is expecting Q3 earnings of seven cents per share
ON BAYSTREET
The TSX Venture Exchange dropped 4.41 points Tuesday to 542.46
ON WALLSTREET
U.S. stock futures are edging higher and European markets are mostly rising in early trading.
Ahead of the opening bell, futures for the Dow Jones gained 20 points, or 0.1%, to 17,533, futures for the S&P 500 took on 3.25 points, or 0.2%, to 2,063.75, and futures for the NASDAQ were boosted nine points, or 0.2%, to 4,641.25
Shares in Apple are jumping ahead of the open after the company reported strong quarterly results. Apple's profit rose 31% as customers continued to buy more expensive iPhones.
On the other hand, Twitter's stock is set to tumble after the tech firm turned in another disappointing earnings report.
Shares in Northrop Grumman are rising by about 9% pre-market after the company landed a massive contract with the Pentagon to build its Long Range Strike Bomber. The firm is also reporting earnings ahead of the opening bell.
Rite Aid shares are sinking about 7% pre-market following a 45% surge on Tuesday triggered by reports that Walgreens was planning to buy the company. Walgreens confirmed the $17.2-billion U.S. deal after the closing bell.
Investors are keeping a close eye on Volkswagen after the company reported a deep loss in the third quarter because of the group's diesel emissions scandal. Shares are rising about 2% in Europe as investors seem relieved that the losses weren't worse.
IBM may remain in the spotlight after the tech giant admitted Tuesday that it is under investigation by the U.S. Securities and Exchange Commission. The SEC is conducting an investigation into certain IBM accounting practices in the U.S., U.K. and Ireland, but the company wouldn't provide further details.
There are loads of companies reporting earnings today.
Before the open, we'll hear from firms including Fiat Chrysler, Hershey and the global food giant Mondelez International.
After the close, GoPro, Marriott and Yelp are reporting.
The Federal Reserve will issue its latest decision on interest rates at 2 p.m. ET.
Most Asian stock markets ended the day in the red.
Oil prices pointed higher 40 cents to $43.60 U.S. a barrel
Gold prices were lifted $7.92 to $1,174.80 U.S. an ounce.
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