Canada's main stock index was set to open higher on Wednesday as oil and gold prices jumped after Russian President Vladimir Putin announced a partial military mobilization, while investors focused on the U.S. Federal Reserve's rate decision later in the day.
The TSX Composite retreated 193.69 points, or 1%, to close trading Tuesday at 19,368.69.
Futures captured 0.2% early Wednesday.
The Canadian dollar faded 0.4 cents to 74.78 cents U.S.
ON BAYSTREET
The TSX Venture Exchange cratered 9.2 points, or 1.5%, Tuesday to 616.72.
ON WALLSTREET
Stock futures rose slightly Wednesday as traders looked ahead to a potential interest rate hike announcement from the Federal Reserve later in the day.
Futures for the Dow Jones Industrials gained 67 points, or 0.2%, early Wednesday to 30,868.
Futures for the S&P 500 picked up 7.75 points, or 0.2%, to 3,880.50
Futures for the NASDAQ Composite Index were static at 11,922.25.
Investors expect that the central bank will deliver its third consecutive 0.75-percentage-point rate hike to tame high inflation.
A higher-than-expected consumer price index reading in August and hawkish comments on rate hikes from Fed leaders have weighed on stocks, with more pressure likely ahead as the central bank continues to fight inflation.
Investors will also be watching for earnings from Lennar, KB Homes, General Mills and Steelcase Wednesday. Existing home sales will also be released Wednesday.
In Japan, the Nikkei 225 fell 1.4%, while in Hong Kong, the Hang Seng dropped 1.8%.
Oil prices jumped $2.14 to $86.08 U.S. a barrel.
Gold prices hiked $11.10 to $1,682.20 U.S. an ounce.
