Futures tracking Canada's main stock index rose on Wednesday, supported by a jump in precious metals and oil prices, ahead of key U.S. jobs data that could offer fresh insight into the Federal Reserve's interest-rate path.
The TSX kept on its winning track, gaining 233.51 points on Tuesday to 33,256.83, a record high.
March futures were boosted 0.3% Wednesday.
Prime Minister Mark Carney said after a conversation with U.S. President Donald Trump that the issue of a $4.7-billion bridge connecting Detroit and Windsor, Ontario, will be resolved.
Trump had threatened on Monday to bar the bridge from opening, in his latest salvo against Canada over trade issues.
In after-market earnings on Tuesday, property insurer Intact Financial booked a 12% jump in its net operating income for the fourth quarter, driven by strong underwriting performance.
Toromont Industries surpassed fourth-quarter revenue estimates, while First Quantum Minerals also beat fourth-quarter revenue expectations.
On the economic ledger for today, the total value of building permits issued in Canada increased in December $821.3 million (+6.8%) to $12.8 billion.
ON BAYSTREET
The TSX Venture Exchange dished off 5.31 points Tuesday to 1,032.20.
ON WALLSTREET
Stock futures inched higher on Wednesday as traders looked ahead to the release of the delayed January jobs report.
Futures for the Dow Jones Industrials grabbed 54 points, or 0.1%, to 50.327
Futures for the S&P 500 index picked up 7.75 points, or 0.1% to 6,969.70
Futures for the NASDAQ gained 42 points, or 0.2%, to 25,260.25.
Traders are looking ahead to the Bureau of Labor Statistics’ release of the January nonfarm payrolls report due Wednesday morning. The data had been delayed due to a partial government shutdown that ended on Feb. 3.
Economists expect that the latest jobs report will show little to no growth in January. The Dow Jones consensus is calling for a gain of 55,000, compared to a December increase of 50,000.
Economists also see the unemployment rate landing at 4.4%. In addition, traders will be on the lookout for a batch of revisions from the BLS, which could shed some light on the state of the U.S. jobs market and economy.
A lackluster jobs report would add to negative sentiment in the market that was driven by weaker-than-expected consumer data released on Tuesday. A new report showed that consumer spending in December was flat, missing the 0.4% monthly gain expected from economists polled by Dow Jones.
In Hong Kong, the Hang Seng in Hong Kong advanced 0.3%, while markets in Japan were closed for holiday.
Oil prices prospered $1.44 to $65.40 U.S. a barrel.
Gold prices spiked $87.30 to $5,118.30 U.S an ounce.
