Canada's main stock index futures inched lower on Wednesday, ahead of policy decisions from the U.S. Federal Reserve and the Bank of Canada.
The TSX Composite Index gained 30.61 points to conclude Tuesday’s trading at 16,418.14
The Canadian dollar inched up 0.05 cents to 76.43 cents U.S. early Wednesday
December futures sank 0.1% early Wednesday.
South Korea's LS Nikko Copper signed a contract with First Quantum Minerals to buy 120,000 tonnes per year of copper concentrate for 15 years starting in 2020.
Credit Suisse raised the target price on Electronic Arts to $118 from $115
JMP Securities raised the target price on KKR & Co to $33 from $31
Jefferies raised the target price on Lattice Semiconductor to $22 from $19
The Bank of Canada makes its rate announcement this morning (about 10 a.m. ET), and experts expected it to hold to its previous rate of 1.75%.
ON BAYSTREET
The TSX Venture Exchange docked 2.73 points to end Tuesday at 538.25
ON WALLSTREET
U.S. stock index futures were mixed on Wednesday morning, as market participants waited for the Federal Reserve’s decision on interest rates.
Futures for the Dow Jones Industrials gave back three points early WEdnesday to 27,039
Futures for the S&P 500 acquired one point at 3,036.75
NASDAQ Composite added 12.5 points, or 0.2%, to 8,067.75
In corporate news, General Electric reported earnings and revenue that topped analysts’ expectations. GlaxoSmithKline, CME Group, and Yum Brands are among some of the other major companies that are set to report earnings before the opening bell.
Apple, Facebook, and Starbucks are scheduled to post their latest quarterly figures after the market close.
On the data front, ADP payrolls for October will be released at around 8:15 a.m. ET. An advance reading of real U.S. gross domestic product for the third-quarter will follow slightly later in the session.
The moves in pre-market trade come ahead of an expected quarter-point rate cut by the U.S. central bank. It would mark the third time this year the Fed has lowered borrowing costs.
Looking ahead, market expectations for another interest rate cut in December are at 23%, compared with almost 70% earlier this month.
Meanwhile, a report published Tuesday cited an unnamed U.S. administration official as saying an interim trade agreement between the U.S. and China might not be completed in time for signing in Chile next month.
Overseas, in Japan, the Nikkei 225 index dipped 0.6% Wednesday, while in Hong Kong, the Hang Seng Index faltered 0.4%,
Oil prices took on three cents to $55.57 U.S. a barrel.
Gold prices gained $4.60 to $1,495.30 U.S. an ounce.
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