Futures tracking Canada's commodity-heavy stock index edged higher on Wednesday as oil prices climbed amid renewed hostilities in the Middle East, while investors awaited the Federal Reserve's monetary policy decision due later in the day.
The TSX surged 181.56 points to end the session at 35,749.70.
September futures advanced 0.1% early Wednesday.
The Canadian dollar nicked up 0.06 cents to 70.94 cents U.S.
In company news, oil and gas major Cenovus Energy posted a rise in second-quarter revenue and profit on higher oil prices.
On the trade front, U.S. President Donald Trump said on Tuesday that he does not care about updating the North American trade agreement, even as Canada disclosed plans to send senior trade officials to Washington for more talks.
ON BAYSTREET
The TSX Venture Exchange subtracted 20.67 points, or 2.3% to end Tuesday afternoon at 867.06.
ON WALLSTREET
S&P 500 and NASDAQ futures edged higher early Wednesday, as investors monitor rising oil prices and the Federal Reserve’s latest interest rate decision, due later.
Futures for the Dow Jones Industrials faded 176 points, or 0.3%, to 52,768.
Futures for the S&P 500 collected 12.25 points, or 0.2%, to 7,477.50
Futures for the NASDAQ Composite hiked 46.25 points, or 0.2%, to 27,968.25
Ford Motor shares jumped 4.9% in premarket trading after the automaker beat earnings expectations and lifted its 2026 forecast. But Visa shares slipped roughly 1% after the payments giant posted underwhelming guidance.
SK Hynix’s U.S.-listed shares were down almost 2.1% in premarket trading. The South Korean semiconductor mainstay trimmed losses to close 9.6% lower in Seoul on Wednesday, after falling its 15% earlier in the session.
West Texas Intermediate crude futures advanced 4.7% to trade at around $82.93 a barrel after U.S. Central Command said in a social media post that Islamic Revolutionary Guard Corps forces launched “multiple ballistic missiles in an attempted surprise attack on U.S. forces based in the Middle East.”
The missiles were successfully intercepted, Centcom said.
Investors are looking ahead to the Federal Reserve’s interest rate decision and subsequent press conference with Chairman Kevin Warsh on Wednesday afternoon.
Fed funds futures traders are pricing in a nearly 70% likelihood that the central bank holds rates steady at the current targe range of 3.5% to 3.75%
In Japan, the Nikkei 225 bowed 2.8% Wednesday, while in Hong Kong, the Hang Seng pointed upward 1.3%.
Oil prices spiked $3.54 to $82.80 U.S. a barrel.
Gold prices slumped $7.50 to $4,031.20 U.S an ounce.
