Stock futures pointed to a slightly lower opening for equity markets in Toronto on Wednesday, as investors focused on the trade talks between U.S. President Donald Trump and European Commission President Jean-Claude Juncker.
The S&P/TSX Composite Index gave up 30.71 points to end Tuesday at 16,390.13
The Canadian dollar gathered 0.2 cents at 76.19 cents U.S. early Wednesday
September futures dipped 0.2% Wednesday
Loblaw’s quarterly profit topped analysts' estimates on Wednesday, driven by higher food and drug same-store sales.
Singapore has bought 66 new trains from Bombardier to replace an older fleet on its metro rail service in a contract worth up to S$1.2 billion about $1.15 billion Canadian).
Canadian National Railway on Tuesday reported a better-than-expected quarterly profit and raised its forecast for full-year adjusted earnings as the railroad moved higher volumes of commodities including grains and fertilizers at better pricing.
Morgan Stanley raised the target price on Canadian National Railway to $116 from $106
CIBC raises price target on Choice Properties REIT to $13.00 from $12.75
ON BAYSTREET
The TSX Venture Exchange tumbled 3.89 points Tuesday to 706.42.
ON WALLSTREET
U.S. stock index futures fell on Wednesday as Wall Street focused on the latest batch of corporate earnings results.
Futures for the Dow Jones Industrials settled 81 points, or 0.3%, to 25,133. Dow-component Boeing reported better-than-expected earnings, but the stock fell more than 2% after the company issued weaker-than-expected guidance.
S&P 500 futures slid 4.25 points, or 0.2%, to 2,820.75, while futures for the NASDAQ composite skidded 2.8 points to 7,413.50
General Motors' stock fell more than 5% in the pre-market after cutting its full-year profit forecast. The company cited "recent and significant increases in commodity costs" as well as currency headwinds for the cut. The company posted, however, quarterly earnings and revenue that surpassed analyst expectations.
Facebook and Qualcomm are among the companies scheduled to report after the close.
Wall Street has high hopes for this earnings season, with analysts expecting a 20% year-over-year increase in second-quarter profits.
Investors also looked ahead to a meeting in Washington between President Donald Trump and European Commission President Jean-Claude Juncker. The two leaders are expected to discuss improving transatlantic trade relations among other subjects.
Overseas, in Japan, the Nikkei 225 recaptured 0.5%, while in Hong Kong, the Hang Seng index gained 0.9%.
Oil prices dropped two cents to $68.50 U.S. a barrel.
Gold prices gained $7.10 to $1,232.60 U.S. an ounce.
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