Stock futures pointed to a lower opening for Canada's main stock index on Wednesday, with investors finding few reasons to buy in the absence of any major economic catalyst, ahead of the Christmas break.
The S&P/TSX composite index improved 161.65 points, or 1.1%, to close the last full session before Christmas at 14,594.03. Futures were down 0.3% Wednesday.
Sessions on both sides of the border will close around 1 p.m. ET, and remain shuttered Christmas Day, with the Toronto market remaining shut for Boxing Day.
The Canadian dollar gained 0.15 cents to 86.24 cents U.S. early Wednesday.
Manulife Financial's U.S. unit will buy New York Life Insurance Co's retirement services business for an undisclosed amount.
ON BAYSTREET
The TSX Venture Exchange gained 9.09 points Tuesday to 677.45
ON WALLSTREET
U.S. stock futures are relatively flat ahead of the open, though there is a positive bias in the markets.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 20 points, or 0.1%, to 17,996. Futures for the S&P 500 added 2.5 points, or 0.1%, to 2,081.50, and futures for the NASDAQ took on 6.25 points, or 0.2%, to 4,284.25.
This comes after the Dow and S&P 500 hit record highs Tuesday, notching their fifth straight day of gains. The Dow surpassed 18,000 points for the first time ever.
This year, the Dow and S&P 500 have surged by nearly 9% and 13%, respectively.
Although the NASDAQ closed with a small loss Tuesday, it's jumped by just over 14% since the start of the year.
It's widely expected that trading volumes will be low Wednesday as many market participants have already left for the holiday season.
The markets close early at 1 p.m. today. Markets are also closed for the Christmas holiday on Thursday.
Shares in Sony jumped by 4% in Japan and could be on the move Wednesday in New York.
On Tuesday, the company said it will release the controversial film 'The Interview' at a limited number of theaters starting on Christmas Day, despite threats and attacks from hackers.
Sony also announced it will start offering its Playstation streaming service on a number of Samsung Smart TVs starting next year.
The U.S. Department of Labor will announce weekly jobless claims data this morning.
A few European markets are open Wednesday but trading is mixed early in the day.
Asian markets closed with mixed results. The Nikkei in Japan jumped by 1.2% while the Shanghai Composite index dropped by 2%.
Oil prices dipped $1.31 to $55.81 U.S. a barrel
Gold prices were flat at $1,178.00 U.S. an ounce.
