Futures for stocks in Canada’s biggest market were little changed on Wednesday as oil prices slipped after data showed a rise in U.S. crude inventories.
The S&P/TSX Composite Index stayed buoyant 32.73 points to close Tuesday at 15,745.19. June futures edged up 0.03% Wednesday
The Canadian dollar shed 0.06 cents to 73.61 cents U.S. early Wednesday.
Cenovus Energy reported a smaller-than-expected quarterly loss as operating costs fell, while oil sands production rose.
Barrick Gold gave details on Tuesday of $500 million worth of improvements and expansions it is planning at its Veladero mine in Argentina over the next five years, on a day when its stock price sank 11% on disappointing earnings.
RBC raised the target price on AG Growth International to $60.00 from $58.00
CIBC raised the price target on Metro Inc. to $48.00 from $43.00
CIBC raised the target price on Parex Resources to $21.50 from $18.50
On matters macroeconomic, Statistics Canada reported retail sales declined 0.6% to $47.8 billion in February, this, after a 2.3% increase in January. The agency says sales were down in five of 11 sub-sectors, representing 67% of total retail sales.
ON BAYSTREET
The TSX Venture Exchange slouched 13.67 points, or 1.7%, Tuesday to 804.39
ON WALLSTREET
U.S. stock index futures pointed to a flat open on Wednesday as traders await a much-anticipated tax plan from the White House.
Ahead of the opening bell, futures for the Dow Jones Industrials gave back five points to 20,940. Futures for the S&P 500 dropped 1.25 points to 2,383.75. NASDAQ futures poked up 1.5 points, or 0.3%, to 5,549.75
On the earnings front, GlaxoSmithKline, PepsiCo, Procter & Gamble and Boeing are among the major companies scheduled that reported before the bell. Amgen, PayPal, F5 Networks and Tractor Supply are all due to report after the market close.
There were no major economic data reports scheduled yet U.S. President Donald Trump is due to release what he has described as a "massive" tax plan on Wednesday.
European stocks were flat as morning became afternoon on the continent, while Japan’s Nikkei 225 index sprang up 1.1%, while the CSI 300 in Shanghai inched ahead 0.1%.
Oil prices slipped 31 cents to $49.25 U.S. per barrel.
Gold prices fell $1.80 to $1,265.40 U.S. an ounce.
