Stock futures pointed to a higher opening for Canada's main stock index on Wednesday as crude oil prices rose on strong Chinese factory data.
The S&P/TSX Composite Index gained 42.35 points to close Tuesday at 15,647.14
The Canadian dollar gained 0.1 cents to 77.27 cents U.S. early Wednesday
March futures ballooned 0.5% higher Wednesday.
Canaccord Genuity cut the price target on Bellatrix Exploration to $1.75 from $2.25
CIBC initiated coverage on Petrus Resources with a neutral rating, and a price target of $1.50
The U.S. Commerce Department said on Tuesday it had made a preliminary finding that some imports from Canada of uncoated groundwood paper used in newsprint were dumped, and imposed preliminary duties of up to 22.2%
ON BAYSTREET
The TSX Venture Exchange moved forward 1.35 points Tuesday to 829.05
ON WALLSTREET
U.S. stock index futures posted gains ahead of Wednesday's open, as investors tried to shake off domestic political concerns.
Futures for the Dow Jones Industrial Average rocketed 92 points, or 0.4%, to 25,142
S&P 500 futures gained 6.75 points, or 0.2%, to 2,779.50 while futures on the NASDAQ Composite picked up 22.5 points, or 0.3%, to 7,105.75
German apparel company Adidas climbed more than 9% after it revised upward its long-term profit target and said it would propose a higher dividend.
Shares of Qualcomm rose slightly in pre-market trading Wednesday after Broadcom announced that it is formally ending its hostile bid for the American chipmaker. Qualcomm stock fell nearly 5% Tuesday after President Trump ordered Broadcom to abandon the deal.
In economic data, retail sales and producer price index (PPI) data is due at 8:30 a.m. ET, while business inventories will come out at 10 a.m. ET.
Reports circulated on Tuesday that Washington is contemplating a trade package that would include investment restrictions, indefinite tariffs and potentially even visa restrictions on Chinese travelers.
In Japan, the Nikkei 225 slumped 0.9%, while in Hong Kong, the Hang Seng Index lost 0.5%.
Oil prices progressed 38 cents to $61.09 U.S. per barrel.
Gold prices improved 30 cents to $1,327.40 U.S. an ounce.
