Futures for Canada's main stock index ticked up on Wednesday as commodity prices firmed, with investors awaiting minutes from the U.S. Federal Reserve's latest meeting for clues on its policy stance.
The TSX Composite index poked up 18.57 points to close Tuesday at 20,300.03.
The Canadian dollar inched up 0.09 cents to 80.36 cents U.S.
September futures gained but 0.03% Wednesday.
The San Rafael mine in northern Mexico operated by Americas Gold and Silver Corp will reopen following months of talks with the country's main mining union, Mexico’s economy ministry said on Tuesday.
Teck Resources on Tuesday estimated third-quarter steel-making coal sales would be reduced by 300,000-500,000 tonnes due to a rail service disruption from the wildfires in British Columbia.
Scotiabank re-initiated coverage on Smartcentres REIT with a sector perform rating
Canaccord Genuity raised the rating on Xebec Adsorption to buy from hold.
Later this morning (around 10 a.m. EDT) Western University’s IVEY School of Business is out with its Purchasing Managers Index for June.
ON BAYSTREET
The TSX Composite index gathered 59.55 points to close Monday at 20,286.10
ON WALLSTREET
U.S. stock futures traded in slightly positive territory early Wednesday morning after the S&P 500 ended a seven-day winning streak, its longest since August.
Futures for the Dow Jones Industrials gained 22 points, or 0.1%, to 34,482.
Futures for the S&P 500 moved upward 7.75 points, or 0.2%, to 4,341.75.
Futures for the NASDAQ Composite Index hiked 83.25 points, or 0.6%, to 14,858.75.
Energy stocks were set to gain as oil prices increased. Devon Energy, Occidental Petroleum and APA Corp were higher in pre-market trading.
Bank shares including Goldman Sachs and JPMorgan Chase continued their retreat on Wednesday as long-term bond yields fell further, hurting the industry’s profitability prospects.
Investors will be listening more clues on the direction of the Federal Reserve’s monetary policy when it releases its latest meeting minutes Wednesday afternoon, which could be a catalyst for a move in both bonds and stocks.
Weekly mortgage applications and the Job Openings and Labour Turnover Survey are also scheduled to be released Wednesday.
Overseas, in Japan, the Nikkei 225 faltered 1% Wednesday, while in Hong Kong, the Hang Seng index slid 0.4%.
Oil prices picked up $1.28 to $74.65 U.S. a barrel.
Gold prices acquired $13.70 to $1,807.90 U.S. a pound
