Futures for stock indices in Canada inched lower on Wednesday, dragged by falling oil prices due to renewed fears over the COVID-19 pandemic.
The TSX docked 9.16 points to close Tuesday at 16,617.48.
The Canadian dollar dipped 0.04 cents Wednesday to 75.91 cents U.S.
September futures fell 0.03% Wednesday.
Credit Suisse raised target price on Bank of Montreal to $81.00 from $75.00
RBC cut the target price on Bank of Nova Scotia to $61.00 from $64.00.
ATB Capital raised target price on Superior Plus to $14.00 from $13.50
ON BAYSTREET
The TSX Venture Exchange tumbled 9.49 points, or 1.3%, Tuesday o 714.23.
ON WALLSTREET
U.S. stock futures were mixed early Wednesday after the S&P 500 closed at a new record high.
Futures for Dow Jones Industrials dropped 39 points, or 0.1%, early Wednesday, to 28,154.
Futures for the S&P 500 added 2.5 points, or 0.1%, at 3,445.40.
Futures for the NASDAQ Composite regrouped 49.25 points, or 0.4%, to 11,775.50.
Software company Salesforce reported blowout earnings after the bell on Tuesday. The soon-to-be Dow member rose more than 13% in extended trading after beating on the top and bottom lines of its second-quarter results.
Salesforce will replace Exxon Mobil, Amgen will replace Pfizer and Honeywell International will replace Raytheon Technologies in the Dow average, S&P Dow Jones Indices said Monday. The changes are driven by Apple’s coming stock split, which will reduce the technology weighting in the price-weighted average.
HP Enterprise, homebuilder Toll Brothers and retailer Urban Outfitters jumped after the bell following their better-than-expected earnings.
China and the U.S. resumed trade talks on Tuesday. In a statement, the Office of the U.S. Trade Representative said that both sides made "progress and are committed to taking the steps necessary to ensure the success" of the phase one trade deal.
Later this week, the Federal Reserve will hold its annual symposium on monetary policy. Wall Street will look for clues on further stimulus and where the economy is headed out of the event. Investors will be looking specifically for Powell’s comments on inflation and its impact on the dollar.
Overseas, in Japan, the Nikkei 225 shed almost six points Wednesday, while in Hong Kong, the Hang Seng index gained 5.5 points.
Oil prices lost 17 cents to $43.18 U.S. a barrel.
Gold prices dumped $1.40 to $1,921.70.
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