Futures for Canada’s main stock index pointed to a higher opening on Wednesday, after latest media reports eased U.S.-China trade worries.
The TSX Composite Index plummeted 127.8 points to finish Tuesday at 16,293.95
The Canadian dollar moved up 0.10 cents to 75.15 cents U.S. early Wednesday
December futures sprinted 0.4% early Wednesday.
Bloomberg reported China remained open to signing a partial trade deal with the United States despite being put on the tech blacklist.
A Financial Times report, citing unnamed sources, said Chinese officials are offering to increase annual purchases of U.S. agricultural products as the two countries seek to resolve their trade dispute.
RBC cut the target price on Acadian Timber to $18.00 from $20.00
National Bank of Canada cut the target on Bombardier to $3.70 from $4.15
RBC cut the rating on Canfor Corp. to sector perform from outperform
ON BAYSTREET
The TSX Venture Exchange dipped 3.45 points Tuesday to 552.67
ON WALLSTREET
U.S. stock index futures jumped Wednesday morning on a report that said China is open to agreeing to a partial trade deal with the U.S.
Futures for the Dow Jones Industrials jumped 203 points, or 0.8%, early Wednesday to 26,341
Futures for the S&P 500 improved 26 points, or 0.9%, at 2,918.50
NASDAQ Composite hiked 75.75 points, or 1%, to 7,697.75
The list of earnings is s sparse one, with Saratoga Investment Corporation alone standing out
On the data front, and wholesale trade figures for August and Job Openings and Labour Turnover Survey (JOLTS) data for August will both be released at around 10 a.m. ET.
Bloomberg News reported China is prepared to accept a partial trade deal as long as no more tariffs are imposed by President Donald Trump.
The report added that Beijing would offer non-core concessions like purchases of agricultural products in return, but not budge on major sticking points between the two nations.
The unnamed official said, however, negotiators were not optimistic about securing a broad agreement that would fully end the trade conflict between the world’s two largest economies. Both sides are set for high-level trade negotiations in Washington on Thursday.
Separately, the Financial Times reported that officials in China are offering to increase purchases of U.S. agricultural products, in order to reach a partial deal.
Overseas, in Japan, the Nikkei 225 slid 0.6% Wednesday, while in Hong Kong, the Hang Seng dropped 0.8%.
Oil prices gained 52 cents to $53.15 U.S. a barrel.
Gold prices hiked $2.90 to $1,506.80 U.S. an ounce.
