Canadian stock futures edged higher on Wednesday, buoyed by a rise in crude oil prices, as easing of lockdowns in the United States and parts of Europe raised hopes of higher fuel demand in the summer season.
The TSX was in the red 25.13 points to conclude Tuesday at 19,188.03
The Canadian dollar hiked 0.18 cents Wednesday to 81.47 cents U.S.
June futures progressed 0.3% Wednesday.
Barrick Gold reported a 78% rise in first-quarter profit, helped by rising gold and copper prices, and said it was on track to meet annual guidance.
Loblaw Cos beat market estimates for quarterly revenue as homebound consumers shopped more for groceries and other essentials online during the COVID-19 pandemic.
Guggenheim cut the target price on Bausch Health Companies to $33 from $36
Cowen and Company cut the target price on Ballard Power Systems to $5.50 from $20.00
Berenberg raised the price target on Nutrien to $70 from $68
Alberta reported its first death of a patient from a rare blood clot condition after receiving the AstraZeneca COVID-19 vaccine, its chief medical officer said.
ON BAYSTREET
The TSX Venture Exchange fell 14.17 points, or 1.5%, Tuesday to 944.49.
ON WALLSTREET
U.S. stock futures rebounded on Wednesday following a session defined by major weakness in technology stocks.
Futures for the Dow Jones Industrials recovered 78 points, or 0.2%, to 34,098.
Futures for the S&P 500 gained 15.25 points, or 0.4%, to 4,173.50.
Futures for the NASDAQ Composite index advanced 81 points, or 0.6%, to 13,617.
Major tech shares rebounded in early trading. Apple and Tesla gained about 1% each after falling 3.5% and 1.7% respectively on Tuesday.
There was good earnings news in the tech sector as well. Activision Blizzard rose nearly 3% and ride-hailing company Lyft gained 6% in premarket trading after better-than-expected earnings reports.
Outside of tech, General Motors shares jumped 2% in early trading after earnings blew past expectations.
Private payroll data will also be released Wednesday at 8:15 a.m. ET. Economists polled by Dow Jones are expecting 800,000 private jobs added in April, compared to the 517,000 in March, according to ADP. These numbers come ahead of Friday’s closely-watched jobs report.
Two key readings on the services sector will also be released on Wednesday morning.
Overseas, in Hong Kong, the Hang Seng index scaled back 0.5% Wednesday, while markets in Japan were closed for holiday.
Oil prices added 66 cents to $66.35 U.S. a barrel.
Gold prices picked up $1.80 to $1,777.80 U.S.
