Futures indicated to a higher opening for equity markets in Toronto on Wednesday as oil hit its highest since June.
The S&P/TSX Composite plummeted 168.12 points, or 1.1%, to close Tuesday at 14,520.92. December futures nicked up 0.1% Wednesday.
The Canadian dollar gave back 0.15 cents to 75.66 cents U.S. early Wednesday.
RBC starts coverage on Ag Growth International with an outperform rating, and a $50 price target
Canaccord Genuity raised the target price on BSM Technologies to $2.00 from $1.75 and a buy rating
CIBC starts coverage on ECN Capital with an outperform rating, and a $4.50 price target
On the economic slate, Statistics Canada reported that our exports increased 0.6% to $43.4 billion in August, while imports were largely unchanged at $45.3 billion.
As a result, Canada's merchandise trade deficit with the world narrowed from $2.2 billion in July to $1.9 billion in August.
ON BAYSTREET
The TSX Venture Exchange fell 25.60 points, or 3.2%, Tuesday to 766.81
ON WALL STREET
U.S. stock index futures pointed to a higher open on Wednesday, as investors awaited remarks from key Federal Reserve officials, and parsed through key economic data.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 23 points, or 0.1%, to 18,115, while futures for the S&P 500 edged up three points, or 0.1%, to 2,147.75. NASDAQ futures moved up 7.25 points, or 0.2%, at 4,864.75
On the data front, the U.S. trade deficit will be out later this morning, likewise, factory orders and Institute for Supply Management non-manufacturing data. Mortgage applications stateside rose 2.9% last week, driven by European bank fears.
As well, investors will now be looking ahead to 10.30 a.m. ET on Wednesday, when the latest crude inventories data are expected.
Oil prices gained 90 cents to $49.59 U.S. a barrel
Gold prices added $5.30 to $1,275 an ounce.
