Canada's main stock index future fell on Wednesday, weighed down by weaker oil prices as worries about a second wave of COVID-19 infections and record high inventories outweighed signs of a recovery in fuel demand.
The S&P/TSX Composite Index finished Tuesday higher by 47.85 points to 15,564.75.
The Canadian dollar shrank 0.15 cents Wednesday to 73.63 cents U.S.
June futures settled 0.9% Wednesday.
Barrick Gold will lay off most staff at its Porgera gold mine in Papua New Guinea, a signal that an impasse with the government over ownership is unlikely to be resolved swiftly.
Citigroup raised the price target on Cenovus Energy to $9.00 from $7.00
RBC cut the target price on Evertz Technologies to $14.00 from $17.00
Scotiabank raised the rating on Horizon North Logistics to "sector outperform" from "sector perform"
ON BAYSTREET
The TSX Venture Exchange rose 9.43 points, or 1.6%, Tuesday to 586.87.
ON WALLSTREET
Futures contracts tied to the major U.S. stock indexes pointed to a lower open on Wednesday as traders grew worried about the increasing number of newly confirmed coronavirus cases.
Futures for Dow Jones Industrials sank 232 points, or 0.9%, early Wednesday, to 25,788.
Futures for the S&P 500 dipped 22 points, or 0.7%, to 3,096.50.
Futures for the NASDAQ Composite Index declined 29.5 points, or 0.3%, to 10,166.50.
An analysis of Johns Hopkins University data found the U.S. seven-day average of coronavirus cases surged more than 30% from a week ago. California is one of the states which have seen a dramatic spike in cases, adding more than 6,000 on Monday alone.
Shares of Apple rose 2.1% on Tuesday to reach a new all-time high, notching the benchmark one day after it unveiled new operating systems for its iPhone and computers. Apple pleased its investors further by announcing it will phase one Intel chips in favor of its own products when building new Mac devices.
Overseas, in Tokyo, the Nikkei 225 stepped back 0.1% Wednesday, while in Hong Kong, the Hang Sang slumped 0.5%.
Oil prices slid 87 cents at $39.50 U.S. a barrel.
Gold prices gained $5.90 to $1,787.90.
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