Futures Rocket Ahead of Trudeau Address

Oil Moves Tentatively Up

Futures for stocks in Toronto rose on Wednesday ahead of Prime Minister Justin Trudeau's announcement of a what he says is a far-reaching plan to address the economic pain due to the COVID-19 pandemic.

The TSX vaulted 161.12 points, or 1%, to end Tuesday at 16,142.89.

The Canadian dollar faded 0.22 cents early Wednesday to 74.99 cents U.S.

December futures motored higher 0.7% Wednesday.

Ford Motor Co will invest $1.95 billion in its Oakville and Windsor plants in Canada as part of a tentative deal with Canadian autoworkers, Unifor union National President Jerry Dias said on Tuesday.

Oil edged up after a report said U.S. fuel inventories fell, although rising crude supply and growing numbers of coronavirus cases that raise concern of stalling demand capped gains.

ON BAYSTREET

The TSX Venture Exchange lost 5.16 points Tuesday to 714.70.

ON WALLSTREET

U.S. stock futures were solidly higher again early Wednesday after the S&P 500 experienced its first positive day in five trading sessions. Dow Jones Industrial Average futures received a boost from a blowout earnings report from component Nike

Futures for the 30-stock index sprang up Wednesday 192 points, or 0.7%, to 27,335.

Futures for the S&P 500 improved 8.5 points, or 0.3%, at 3,307.75.

Futures for the NASDAQ Composite skidded 29 points, or 0.3%, to 11,120.50.

Shares in the "Just-do-it" sporting goods behemoth jumped 13% in pre-market trading as the company said digital sales surged more than 80% last quarter. Earnings and sales blew past analysts expectations last quarter and the company gave a forecast for growth in the new fiscal year.

Airlines and cruise lines gained in pre-market trading after President Donald Trump said the U.S. would not be implementing a second round of lockdowns as the U.K. began imposing stricter measures. The House passed a bill avoiding a government shutdown.

United Airlines and Delta were up more than 2%. Carnival gained 2.7%.

Johnson & Johnson started a phase 3 trial of its coronavirus vaccine.

Key tech stocks Amazon, Apple and Microsoft were slightly higher in pre-market trading. Tech stocks have been the center of the September selloff.

Shares of Tesla fell 4% in pre-market trading after Elon Musk offered new delivery predictions for 2020 and detailed a new battery design that it claims will make its cars cheaper to produce.

Overseas, in Japan, markets returned Wednesday, with the Nikkei 225 dropping 0.1%, while Hong Kong, the Hang Seng index regained 0.1%.

Oil prices gathered three cents to $39.83 U.S. a barrel.

Gold prices slipped $20.90 to $1,886.70.