Canadian stock futures inched lower Wednesday, ahead of the Bank of Canada's decision on interest rates.
The S&P/TSX Composite gained 29.78 points to end Tuesday at 15,124.95
The Canadian dollar moved up 0.06 cents to 75.37 U.S. early Wednesday.
Dollarama Inc reported a 10% rise in quarterly profit as people spent more in its stores. The company's net income rose to $110.06 million, or 92 cents per share, from $100.08 million, or 78 cents per share, a year earlier.
Barrick Gold said Latin America will play an increasingly important role in the company’s growth strategy. Barrick named a new director with decades of mining experience in that region.
National Bank Financial resumed coverage on Arizona Mining with an outperform rating, considering a high probability of future exploration success.
National Bank Financial cut the target price on Hudson's Bay to $17.00 from $18.00
RBC raised the target price on Laurentian Bank of Canada to $57.00 from $52.00, citing the outlook for cost savings given the bank’s transformational plan and branch restructuring initiative.
National Bank Financial raised the target price on Transcontinental Inc to $23 from $21.50.
The Bank of Canada’s rate decision is due at 10 this morning, but all expectations are for the central bank to leave rates untouched.
ON BAYSTREET
The TSX Venture Exchange gave back 3.47 points Tuesday to 747.66
ON WALLSTREET
U.S. stock index futures pointed to a flat open on Wednesday after another post-election rally in the previous session.
Ahead of the opening bell, futures for the Dow Jones Industrials dipped two points to 19,231. Futures for the S&P 500 faded 1.5 points, or 0.1%, to 2,208.5. NASDAQ futures sank 4.25 points, or 0.1%, to 4,782.50
On the earnings front Costco, H&R Block and Lululemon are all poised to report after the bell.
On the data front, Wednesday will see job openings and labour turnover survey (JOLTS) released at 10 a.m. ET with consumer credit data due a little later in the day at around 3 p.m. ET.
The Federal Reserve members are due to meet next week and according to experts, market expectations for a potential interest rate rise are more than 90%
European markets clicked higher by noon on the continent, while in Asia, the Shanghai Composite in China closed 0.7% higher, while the Nikkei in Japan also closed 0.7% higher.
Oil prices dipped 49 cents to $50.44 U.S. a barrel
Gold prices moved upward $5.40 at $1,175.50 U.S. an ounce.
