Futures pointed to a slightly higher start for markets in Toronto ahead of the Bank of Canada's quarterly monetary policy report
The S&P/TSX Composite leaped 115.79 points to close Tuesday at 14,477.67, with September futures up 0.1% Wednesday.
The Canadian dollar inched back 0.04 cents to 76.63 cents U.S. early Wednesday
Corus Entertainment reported a bigger third-quarter loss as expenses soared. Net loss attributable to shareholders was $15.8 million, or 10 cents per share, for the three months to May 31. Corus posted a net loss of $8.1 million, or nine cents a share, a year earlier. The company's revenue rose to $360.8 million from $203.1 million.
Brookfield Asset Management said on Tuesday it had raised $14 billion for its new global infrastructure fund, giving it a war chest to hunt for assets around the world.
Canadian Tire reappointed Stephen Wetmore its chief executive, more than a year and a half after he left the top job. Wetmore, who replaces Michael Medline, will step down as the deputy chairman of Canadian Tire's board but will remain a director.
National Bank Financial raised the target price on Northland Power to $26.00 from $24.00 as the company is considering a partnership with private equity or an asset sale.
Desjardins raised the target price on Tamarack Valley Energy to $5.25 from $4.75, based on the company’s acquisitions as opportunistic toward consolidating assets in its core areas of Redwater and Wilson Creek, as well as strategic in obtaining a low-decline funding platform in Penny.
Sirius XM Canada Holdings reports Q3 earnings today, expecting six cents per share
The central bank is expected to keep interest rates unchanged as prices for oil, a major export, are yet to recover.
ON BAYSTREET
The TSX Venture Exchange faded 9.56 points Tuesday to 749.59
ON WALLSTREET
U.S. stock futures are holding steady, after hitting fresh record highs Tuesday.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 10 points, or 0.1%, to 18.274, while futures for the S&P 500 added two points, or 0.1%, to 2,147.75. NASDAQ futures picked up 7.75 points, or 0.2%, to 4,577.50
After the market closes, transportation firm CSX and fast food giant Yum Brands will report quarterly earnings.
On the economic front, the federal government will issue its weekly crude inventory update at 10:30 a.m. ET.
Then at 2 p.m. the U.S. Federal Reserve will release its Beige Book for July, which will give detailed information about the state of the U.S. economy.
European markets are mixed in early trading, while most Asian markets ended the day with gains.
Oil prices dropped 49 cents to $46.31 U.S. a barrel
Gold prices surged $5.90 at $1,341.20 U.S. an ounce.
