Futures for Canada's commodity-heavy main stock index inched higher on Wednesday, a day after the TSX scaled record highs, supported by gains in crude and gold prices due to the Ukraine crisis.
The S&P/TSX Composite Index gained 65.22 points, to finish Tuesday’s session at 22,074.35, yet another all-time high close for the index.
June futures were up 0.1% Wednesday.
The Canadian dollar shied away 0.07 cents to 79.38 cents U.S.
Eight Capital initiated coverage on Apollo Silver with a buy rating.
National Bank of Canada raised the target price on Dollarama to $69.00 from $66.00.
TD Securities raised the target price on Dream Unlimited to $58.00 from $55.00.
Quebec on Tuesday announced payments of $500 each to residents to counter the rising cost of living ahead of a fall election and said it sees a $6.5-billion budget deficit for fiscal 2022/23.
ON BAYSTREET
The TSX Venture Exchange added 7.66 points Tuesday to 871.68.
ON WALLSTREET
U.S. stock futures dipped in early morning trading on Wednesday as oil prices gained and bond yields touched a fresh multi-year high.
Futures for the Dow Jones Industrials removed 127 points, or 0.4%, to 34,582,
Futures for the S&P 500 gave up 21 points, or 0.5%, to 4,484.
Futures for the NASDAQ Composite Index shed 110.5 points, or 0.8%, to 14,543.50.
Famed activist investor Carl Icahn said Tuesday an economic downturn could be coming.
“I think there could very well could be a recession or even worse,” Icahn, founder and chairman of Icahn Enterprises, told the media Wednesday.
Meanwhile, traders digested the latest news on the Ukraine-Russia war. Ukrainian President Volodymyr Zelenskyy called for more pressure on Russia from other countries as the conflict appears to be entering a stalemate.
In Asia, the Nikkei 225 in Japan jumped 3%, while in Hong Kong, the Hang Seng index picked up 1.2%.
Oil prices took on $2.73 to $112.00 U.S. a barrel.
Gold prices leaped $8.20 to $1,929.70 U.S.
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