Stock futures pointed to a lower start for Canada's main stock index on Wednesday as investors remained cautious ahead of Bank of Canada's rate decision, due at 10 a.m.
The S&P/TSX composite index faded 4.06 points to end Tuesday at 14,308.44, with futures off 0.4%.
The Canadian dollar gained 0.31 cents to 82.86 cents U.S. early Wednesday.
Canadian energy transportation and storage company Inter Pipeline plans to spend $400 million on its capital program in 2015, less than a third of last year's budget, the company said on Tuesday.
Canada's Competition Bureau said on Tuesday it had asked for records from Indigo Books and Music Inc, the country's biggest bookstore chain, as part of a probe into alleged anti-competitive practices in the e-book market.
National Bank Financial cut the rating on CI Financial to sector perform from outperform
Canaccord Genuity raised the rating on Gran Tierra Energy to buy from hold
On the economic docket, Statistics Canada reported this morning that wholesale trade ditched 0.3% in November, to $54 billion, following two consecutive monthly gains.
Decreases in three of seven subsectors -- machinery, equipment and supplies -- were partially offset by higher sales in the motor vehicle and parts subsector.
ON BAYSTREET
The TSX Venture Exchange eased 1.59 points Tuesday to 671.57
ON WALLSTREET
U.S. stock futures were inching lower, pointing to a lackluster start to the session.
Ahead of the opening bell, futures for the Dow Jones Industrials moved lower 65 points, or 0.4%, to 17,396. Futures for the S&P 500 slid 4.5 points, or 0.2%, to 2,012.25, and futures for the NASDAQ gave back 7.25 points, or 0.2%, to 4,159.75.
Telecommunications equipment maker Qualcomm was the sharpest decliner, with shares down nearly 5%.
American Express and eBay will post earnings after the closing bell.
Netflix shares soared in after-hours trading as investors cheered better-than-expected earnings, strong subscriber growth, and plans for new original content.
Baker Hughes shares sank in extended trading after the energy company said it was slashing 7,000 jobs and cutting spending by 20%
On the economic front, the U.S. Census Bureau reports monthly housing starts and building permits this morning.
The European Central Bank is widely expected to unveil plans for massive bond purchases when it meets on Thursday. A U.S. Fed-style quantitative easing program is the last big weapon in the central bank's arsenal to boost the region's ailing economy and revitalize financial markets.
Anticipation of a move by the ECB is driving up gold prices. The precious metal is trading above $1,300 U.S. an ounce -- its highest level five months. Gold benefits from bets from money printing as the commodity is seen as a safe store of value and a hedge against inflation.
European markets were mostly lower in early trading, though London's FTSE index edged up. Most Asian markets ended with solid gains -- including a 4.7% jump for the Shanghai Composite -- but Japan's Nikkei index closed down 0.5%.
Oil prices gained 29 cents to $46.30 U.S. a barrel
Gold prices hiked $9.20 to $1,303.40 U.S. an ounce.
