Futures for Canada's main stock index traded lower on Wednesday, as oil prices fell after a report showed an unexpected increase in U.S. crude inventories.
The S&P/TSX Composite Index gained 89.78 points to close Tuesday at 16,155.64
The Canadian dollar slumped 0.14 cents to 74.53 cents U.S. early Wednesday
June futures tumbled 0.3% Wednesday.
Imperial Oil says it has recently resumed shipping crude oil by rail from its terminal in Edmonton, Alberta, because of a marginal improvement in rail economics.
Canaccord Genuity cut the rating on Cronos Group to sell from hold
National Bank of Canada raised the price target on Gildan Activewear to $48.00 from $47.00
RBC raised the price target on Emera Inc. to $56.00 from $53.00
In macroeconomic news, Statistics Canada reported that average weekly earnings were $1,012 in January, little changed from the previous month. Compared with 12 months earlier, earnings grew by 2.0%.
ON BAYSTREET
The TSX Venture Exchange regained 1.69 points Tuesday to 634.23
ON WALLSTREET
U.S. stock index futures fell on Wednesday, tracking Treasury yields, as worries over the economy lingered.
Futures for the Dow Jones Industrial Average lost 47 points, or 0.2%, at 25,629
Futures for the S&P 500 slid 3.25 points, or 0.1%, at 2,819.75
NASDAQ futures moved downward 3.5 points, or 0.1%, to 7,373.25
lululemon athletica inc. and Lennar Corporation are among the companies announced earnings Wednesday.
The benchmark 10-year Treasury yield traded at 2.37 percent and hit its lowest level since late 2017. Investors are keeping an eye on rates after the 10-year fell below the three-month rate last week for the first time since 2007. It is a development that investors call an inverted yield curve and is seen as an early indicator of a recession.
On the data front Wednesday, international trade figures for January will be released, and fourth-quarter current account balance data is set to follow later in the session.
Overseas, in Japan, the Nikkei 225 stepped back 0.2% Wednesday, while in Hong Kong, the Hang Seng Index gained 0.6%
Oil prices downed 24 cents to $59.70 U.S. a barrel.
Gold prices acquired two dollars to $1,317.00 U.S. an ounce.
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