Stock futures for Canada's main stock index edged lower as investors cautiously await the U.S. Federal Reserve’s minutes of the meeting that could provide clues on the timeline of the next interest rate rise.
The S&P/TSX Composite fell 73.58 points to close Tuesday’s trading at 14,703.44.
The Canadian dollar fell l0.19 cents to 77.56 cents U.S.
Performance Sports Group said it was facing an investigation by U.S. and Canadian securities regulators, two days after the sports equipment maker said it was conducting an internal probe into its financials. The company said in a filing that it was subject to inquiries by the U.S. Securities and Exchange Commission as well as the Canadian securities regulator.
CIBC cut the target price on Avigilon Corp. to $14.00 from $20.00 as the company reported second-quarter results and commentary that should cause the stock to move lower.
Barclays raised the target price on Canadian Imperial Bank of Commerce to $93.00 from $87.00 based on successfully managing down risk and costs.
CIBC cut the target price on Dream Unlimited to $10.75 from $11.25 based on the second quarter results and a conventional view of realized pricing, margins, and volumes
ATS Automation Tooling Systems Inc reports Q1 earnings, expecting 13 cents per share
Roxgold Inc. expects a Q2 loss of one cent per share
ON BAYSTREET
The TSX Venture Exchange was positive 2.45 points to end Tuesday at 838.55
ON WALLSTREET
Markets around the world are sinking slightly as investors contemplate a possible upcoming U.S. interest rate hike.
U.S. stock futures are slipping a tad, alongside European markets.
Ahead of the opening bell, futures for the Dow Jones Industrials chucked 12 points or 0.1%, to 18,512, while futures for the S&P 500 eked up 0.25 points at 2,177. NASDAQ futures added five points, or 0.1%, to 4,803.50
Cisco is in focus following a report that the company is set to layoff 14,000 workers, or roughly 20% of its staff. Cisco said the claim was a "rumour" and noted that its next quarterly earnings will be out after markets close this afternoon.
Barnes & Noble is raising eyebrows on Wall Street after it ousted its CEO.
Shares in Urban Outfitters look set to surge at the open after the retailer posted better-than-expected quarterly earnings on Tuesday afternoon.
Lowe's, Target and Staples are among the key companies reporting results ahead of the open.
After the close, investors will hear from Cisco and L Brands -- which owns Bath & Body Works and Victoria's Secret.
The U.S. Energy Information Administration is reporting weekly crude oil inventory data at 10:30 a.m. ET.
At 2 p.m. ET, the minutes from the Federal Reserve's latest policy-setting meeting will be released. Investors will be looking for further signs of the Fed's plans for interest rates.
Asian markets closed the day with mixed results.
Oil prices subtracted 14 cents to $46.44 U.S. a barrel
Gold prices docked eight dollars at $1,348.90 U.S. an ounce.
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