Stock futures pointed to a higher opening for Canada's main index ahead of Bank of Canada’s interest rate decision.
The S&P/TSX composite index grew 83.54 points to close Tuesday at 13,841.92
The Canadian dollar gave up 0.16 cents to 76.89 cents U.S. early Wednesday
Barclays raised the price target on Canadian Oil Sands to $10.00 from $6.00 following the company’s board recommendation to reject Suncor Energy Inc’s bid.
UBS raised the target price on Canadian Pacific Railway to $224.00 from $209.00 on the company’s third-quarter earnings.
Atrium Mortgage Investment reports Q3 earnings today, expecting 24 cents per share
On the economic front, the Bank of Canada is out with its rate announcement about 10 a.m. ET.
ON BAYSTREET
The TSX Venture Exchange dropped 1.13 points Tuesday to 550.80
ON WALLSTREET
But U.S. stock futures are holding steady and not moving very far from their Tuesday closing levels.
Ahead of the opening bell, futures for the Dow Jones gained 62 points, or 0.4%, to 17,169, futures for the S&P 500 picked up 8.25 points, or 0.4%, to 2,028.75, and futures for the NASDAQ moved higher 22.5 points, or 0.5%, to 4,447.25
Shares in Ferrari are set to debut on the New York Stock Exchange Wednesday. The ticker symbol will be "RACE."
Shares in the company were priced at $52 U.S. each, which was at the top end of the range.
Ferrari is being spun out from parent company Fiat Chrysler Automobiles, which also owns the Maserati, Jeep and Dodge brands.
Fiat Chrysler is in the news for other reasons too. The European Commission said Wednesday the automaker, and Starbucks, benefited from illegal tax arrangements in Luxembourg and the Netherlands, respectively. It ordered both countries to recover between 20 million euros and 30 million euros from the companies.
Chipotle shares dipped more than 7% in extended trading after releasing its latest earnings. The company reported sales growth continues to slump.
Shares in Credit Suisse are declining by about 5% in Europe after the bank announced plans to raise about six billion francs ($6.3 billion U.S.) following disappointing earnings results. The bank also announced cost-cutting plans and some changes to top management.
Shares in Yahoo are also dipping by 2% pre-market after the tech giant reported results that came in slightly below Wall Street expectations. The company also vowed to carry through on plans to spin off Alibaba
A slew of companies including General Motors, Boeing, Coca-Cola and Tupperware will post quarterly results ahead of the opening bell.
Another round will come after the closing bell. Investors will hear from American Express, Texas Instruments, eBay and SanDisk
European markets are all declining in early trading, which is setting a rather negative tone in the markets.
Asian markets ended with mixed results. Hong Kong markets were closed for holiday.
Oil prices slid 72 cents to $45.57 U.S. a barrel
Gold prices inched up a penny to $1,176.05 U.S. an ounce.
