Canadian stock futures were little changed on Wednesday ahead of the Bank of Canada's interest rate decision.
The S&P/TSX Composite gained 17.32 points by Tuesday’s close to 14,813.02. September futures inched up 0.02% Wednesday
The Canadian dollar ditched 0.05 cents to 77.82 cents U.S. early Wednesday.
Activist investor William Ackman left the board of Canadian Pacific Railway Ltd on Tuesday, marking the end of a four-year tenure that helped overhaul the ailing railroad company and earn his hedge fund roughly $2.6 billion.
Hudson's Bay Co reported a 60% jump in quarterly sales on Tuesday, helped by its expansion in Europe and the acquisition of online retailer Gilt.
Barclays raised the target price on Bonavista Energy to $5.00 from $4.00, with an equal weight rating
National Bank Financial initiated coverage on Cara Operations with an outperform rating.
CIBC raised the target price on Enbridge Inc. to $71.00 from $63.00.
The central bank is scheduled to announce its interest rate decision at 10 a.m. ET. Investors expect the central bank to leave the key rate unchanged at 0.5%.
Moreover, Western University’s Ivey School of Business is out this morning with its Purchasing Managers Index for August.
ON BAYSTREET
The TSX Venture Exchange soared 14.46 points, or 1.8%, to close Tuesday at 825.38
ON WALLSTREET
U.S. stock futures are holding steady Wednesday morning, but a buzz from new Apple product release could change that.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped 16 points, or 0.1%, to 18,507, while futures for the S&P 500 eased three points, or 0.1%, at 2,181.50. NASDAQ futures eked up 2.5 points, or 0.1%, at 4,830.
Apple is set to unveil its latest smartphone at an afternoon event. Much of the focus is on whether the iPhone 7 will be compatible with standard headphones or require customers to buy new ones.
Investors are trying to gobble up shares in Chipotle after activist investor Bill Ackman bought a 9.9% stake in the company through his hedge fund, Pershing Square. Shares are up about 6% in extended trading.
It's a light day for earnings. After the market closes, HP Enterprises will post its quarterly results, alongside Canadian tea company DavidsTea, which listed on the stock market last year.
The Federal Reserve will release its Beige Book for September at 2 p.m. ET, which will give detailed information about the state of the U.S. economy.
European markets aren't making any major moves in early trading.
Even Asian markets, which tend to be more volatile, closed out the day with minimal changes.
Oil prices faded 12 cents to $44.71 U.S. a barrel
Gold prices lost 40 cents to $1,353.60 U.S. an ounce.
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