Stock futures pointed to a flat opening for Canada's main stock index on Wednesday, ahead of the Bank of Canada's interest rate decision.
The S&P/TSX Composite Index gained 48.41 points to close Tuesday at 16,086.54
The Canadian dollar dipped 0.16 cents to 74.72 cents U.S. early Wednesday
Futures inched up 0.02% Wednesday.
Centerra Gold’s CEO said his company is likely to reinstate its dividend after it closes a deal with Kyrgyzstan to resolve a longstanding dispute over the Kumtor gold mine.
RBC cut the price target on Great Canadian Gaming to $64.00 from $67.00
BMO raised the price target on MAG Silver to $17.50 from $16.50
Raymond James raised the price target Cardinal Energy to $4.25 from $3.75
On the economic calendar, Statistics Canada reported that Canada's exports declined 3.8% in December, mainly due to lower crude oil prices, while imports were up 1.6%.
As a result, our country's merchandise trade deficit with the world widened from $2.0 billion in November to a record $4.6 billion in December.
Later on this morning, Western University’s IVEY School of Business is out with its Purchasing Managers Index for February.
Also, at that time (10 a.m. ET) the Bank of Canada issues its latest rate announcement.
The BoC is widely expected to hold rates steady at 1.75%, with a majority of analysts anticipating another hike later this year, even as recent data has clouded the outlook and could force a more dovish tone.
ON BAYSTREET
The TSX Venture Exchange inched up 0.68 points Wednesday to 623.18
ON WALLSTREET
U.S. stock index futures were lower Wednesday morning as market players remain focused on U.S.-China trade developments.
Futures for the Dow Jones Industrial Average retreated 56 points, or 0.2%, at 25,771
Futures for the S&P 500 fell 6.5 points, or 0.2%, at 2,785
NASDAQ futures settled 17 points, or 0.2%, to 7,148.50
On the corporate calendar, Luxottica Group, Brown-Forman, Dollar Tree and Abercrombie & Fitch are set to report before the bell.
On the economic front, there will be ADP employment numbers and international trade figures out Wednesday morning.
Overseas, in Japan, the Nikkei 225 slid 0.6% Wednesday, while in Hong Kong, the Hang Seng Index gained 0.3%
Oil prices sagged 55 cents to $56.01 U.S. a barrel.
Gold prices gained $4.10 to $1,288.80 U.S. an ounce.
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