Stock futures pointed to a higher opening for Canada's main stock index as oil prices stabilized on cues from China and Royal Bank of
Canada posted a higher third-quarter profit.
The S&P/TSX composite index climbed 98.19 points to finish Tuesday at 13,150.93
The Canadian dollar tacked on 0.3 cents to 75.27 cents U.S. early Wednesday
Royal Bank reported a higher third-quarter profit as strength in personal and commercial banking offset a decline in its capital markets division. Net income for was $2.48 billion, or $1.66 per share, compared with $2.38 billion, or $1.59 per share, in the third quarter of 2014. Analysts on average had expected earnings of $1.67 a share.
National Bank Financial cut the target price on Bank of Montreal to $76.00 from $80.00 with rating sector perform. National also reports third-quarter earnings today, expecting $1.19 a share.
FLYHT Aerospace Solutions reports second-quarter earnings, expecting one cent per share.
ON BAYSTREET
The TSX Venture Exchange gained 8.05 points Tuesday to 526.44
ON WALLSTREET
Stock futures are signaling that U.S. markets should open with a gain of about 1%.
Ahead of the opening bell, futures for the Dow Jones Industrials spiked 291 points, or 1.9%, to 16,010, futures for the S&P gained 36 points, or 1.9%, to 1,908.75, and futures for the NASDAQ moved higher 81.25 points, or 2%, to 4,109.75.
Harley-Davidson was one of the biggest gainers in after-hours trading, adding 3%. Transocean’s stock price tumbled more than 10%. PNC Financial also dipped more than 5%.
A handful of stocks are gaining in pre-market trading. Netflix is up 3.6% and Bank of America gained 2% early on Wednesday.
Apple one of the most heavily traded stocks during this week's gut-churning turmoil, is up 2% pre-market.
Earnings reports from Abercrombie & Fitch, Express and Frontline are expected ahead of the opening bell.
After the market closes, another crop of companies including Williams-Sonoma and Guess will report.
A report from the U.S. government on orders placed with U.S. manufacturers is expected this morning. Analysts look to that report to gauge private sector activity and business spending.
European markets are down again in early trading.
The FTSE 100 in London tumbled 1.5% after the opening bell, while Germany's DAX lost 1.3%, and continues to flirt with bear market territory.
Several world markets are now trading more than 20% below their most recent peak.
Asian markets ended the session mixed. China and Hong Kong closed lower, while Japan's Nikkei gained 3.2% and Korea's Kospi 2.6%.
Oil prices 34 cents to $39.65 U.S. a barrel
Gold prices dropped $9.30 to $1,129.00 U.S. an ounce.
