Stock futures in this country fell on Wednesday as oil extended loses after industry data showed a surprise build in U.S. stockpiles
The S&P/TSX Composite tailed off 8.95 points to conclude Tuesday at 14,778.32. December futures dipped 0.1% Wednesday.
The Canadian dollar moved up 0.09 cents to 74.79 cents U.S. early Wednesday.
Investors will also keep an eye on the official inventory data from the U.S. government's Energy Information Administration scheduled to be released later in the day.
Valeant Pharmaceuticals International said on Tuesday it was in talks with third parties to sell its Salix stomach-drug business and other assets.
Shopify Inc. reported a bigger quarterly loss on Wednesday as operating expenses jumped 87.5%.
TransCanada Corp, Canada's number-one pipeline operator, said on Tuesday that it would sell its U.S. Northeast Power business and do a bought deal common share offering to help fund its acquisition of the Columbia Pipeline Group earlier this year.
UBS raised the target price on BRP Inc to $26.00 from $22.00
Desjardins cut the target price on Richmont Mines to $14.75 from $15.00
CIBC raised the target price on Westjet Airlines to $26.5 from $24.00
ON BAYSTREET
The TSX Venture Exchange surged 6.79 points Tuesday to 779.56
ON WALLSTREET
U.S. stock index futures pointed to a slightly lower open on Wednesday, as investors prepared for more earnings from top corporations, while awaiting the latest decision from the U.S. central bank.
Ahead of the opening bell, futures for the Dow Jones Industrials shed 28 points, or 0.2%, to 17,911, while futures for the S&P 500 dropped two points, or 0.1%, to 2,101.75. NASDAQ futures eked up 0.25 points to 4,757.50
Meanwhile, leading corporate earnings reports are due for release on Wednesday, with Facebook and 21st Century Fox among the firms set to report. Alibaba and Time Warner reported quarterly results before the bell.
On Wednesday, the Federal Open Market Committee is expected to conclude the second day of its two-day monetary policy meeting, and release its latest statement on the state of the U.S. economy.
Investors will be keeping an eye on the meeting for any signals as to when the central bank could raise interest rates. The FOMC's statement is due out at 2 p.m. ET.
Aside from the Fed statement, investors digested the ADP employment report, which showed a gain of 147,000 jobs last month, well below an estimate of 165,000. Mortgage Applications dropped 1.2%
The U.S. dollar fell after news emerged that Republican candidate Donald Trump was gaining momentum ahead of the vote, with polls on Tuesday putting Trump ahead by one to two percentage points. However, Hillary Clinton held a five-percentage-point in a Reuters/Ipsos opinion poll published on Monday.
On the oil front, prices fell into the red on Wednesday after a report by the American Petroleum Institute showed a surprise build in inventories, resurfacing concerns over a supply glut.
European stocks were in negative territory during the morning session, while Asia-Pacific indexes closed lower overnight
Oil prices fell 66 cents to $46.01 U.S. a barrel
Gold prices took on $12.40 to $1,300.40 U.S. an ounce.
