Futures tracking Canada's resource-heavy stock index was flat on Wednesday as investors awaited inflation data for clues on the pace of monetary policy tightening.
The TSX Composite gained 72.97 points to conclude Tuesday at 19,994.78.
December futures on the S&P/TSX index were up 0.02%.
Loblaw Cos surpassed Wall Street estimates for third-quarter revenue as the Canadian retailer credited robust demand for groceries and drugs despite higher prices.
On the economic slate, Statistics Canada reported October’s consumer price index rose 6.9% on a year-over-year basis, matching the increase in September. On a seasonally adjusted monthly basis, the CPI increased 0.6% last month.
ON BAYSTREET
The TSX Venture Exchange dropped 8.22 points, or 1.4%, to 593.53.
ON WALLSTREET
Stock futures dipped Wednesday as investors weighed another lighter-than-expected inflation report and looked ahead to retail sales data.
Futures for the Dow Jones Industrials retreated 16 points to 33,589.
Futures for the S&P 500 inched back two points to 3,997.50.
Futures for the NASDAQ Composite faded 11 points, or 0.1%, to 11,893.25.
Traders were also on the look out for U.S. retail sales data for further cues on the strength of the U.S. economy. Target fell 13% after the retailer forecast a surprise drop in holiday-quarter sales.
Shares of Lowe’s rose about 2% in pre-market trading after the home improvement retailer beat estimates on the top and bottom lines for the third quarter and raised its full-year earnings forecast.
Lowe’s reported $3.27 in adjusted earnings per share on $23.48 billion of revenue. Analysts surveyed by Refinitiv had penciled in $3.13 in earnings per share on $23.10 billion of revenue. Comparable sales also beat expectations,
Walmart, Bed Bath & Beyond, Home Depot and Costco slipped about 1%. Costco and Dollar General lost about 2% each. Kohl’s and Macy’s fell 3%.
Chinese technology stocks were among the best performers Tuesday, with the KraneShares CSI China Internet ETF gaining 9.6% for its best daily performance since March 16. Nine out of 11 S&P 500 sectors rose, led to the upside by communication services and information technology. Both health care and materials posted slight losses.
In Japan, the Nikkei 225 eked up 0.1% Wednesday, while in Hong Kong, the Hang Seng Index fell 0.5%.
Oil prices inched up six cents to $86.86 U.S. a barrel.
Gold prices gained $7.30 to $1,788 U.S. an ounce.
