Stock futures pointed to a higher opening in Canada’s biggest market on Wednesday as investors awaited quarterly results from some major companies including Home Capital Group, CGI Group, and Kinross Gold.
The S&P/TSX Composite Index surged 58.23 points to close Tuesday at 15,202.10. September futures grew 0.2% Wednesday.
The Canadian dollar was fairly static at 79.68 U.S. early Wednesday
Restaurant Brands International posted a slight drop in quarterly profit, as strength in its Burger King chain was offset by fewer patrons visiting Tim Hortons and Popeyes Louisiana Kitchen.
Torstar Corp posted a surprise loss in the second quarter as demand for its print business continued to dwindle.
Siemens and Bombardier are set to agree to headquarter both of their planned transportation joint ventures in Berlin.
CIBC raised the price target on Air Canada to $27.00 from 23.00
Desjardins raised the target price on Intact Financial to $98.00 from $96.00
Canaccord Genuity cut the price target on Precision Drilling to $4.25 from $4.75
ON BAYSTREET
The TSX Venture Exchange dropped 2.33 points at the close Tuesday to 768.03
ON WALLSTREET
Rumblings in Apple stock put the Dow Jones industrial average within striking distance of 22,000.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 43 points, or 0.2%, to 21,947. Futures for the S&P 500 picked up 1.75 points, or 0.1%, to 2,474. NASDAQ futures pumped up 44.25 points, or 0.8%, to 5,933.50
Apple's stock surged after the tech giant reported quarterly results that blew expectations out of the water on Tuesday. The company reported earnings per share of $1.67 on revenue of $45.4 billion. Analysts expected earnings per share of $1.57 on revenue of $44.89 billion. If Apple opens Wednesday where it is trading after hours, it would be a new record for the stock.
The gains in Apple would also theoretically add more than 50 points to the Dow, which would push it above 22,000 at Wednesday's open. The
Dow posted a record close of 21,963.92 on Tuesday, just 36.08 points shy of 22,000.
The NASDAQ would also receive a lift from Apple. Other tech stocks also gained in extended trading, with Alphabet, Netflix and Amazon shares all higher.
Overseas, the Nikkei 225 in Japan gained 0.5%, and Shanghai’s CSI 300 dropped 0.3%.
Oil prices lost 13 cents to $49.03 U.S. per barrel.
Gold prices slipped $7.60 to $1,271.80 U.S. an ounce.
