Canada’s main stock index looked set to extend its gains on Wednesday as investors awaited Bank of Canada's interest rate decision.
The S&P/TSX Composite Index gained 52.92 points to close Tuesday at 15,353.30
The Canadian dollar dipped 0.11 cents to 79.54 cents U.S. early Wednesday
June futures jumped 0.4% Wednesday.
Teamsters Canada said early on Wednesday it has notified Canadian Pacific Railway that workers will go on strike starting April 21 following a stalemate in negotiations between the two parties.
Barclays cut the price target on Canadian National Railway to $101 from $110.
On the economic front, the central bank is widely expected to hold the rate steady at 1.25% when it announces its decision at 10:00 a.m. ET.
ON BAYSTREET
The TSX Venture Exchange faded 4.41 points Tuesday to 797.55
ON WALLSTREET
U.S. stock index futures added to their gains on Wednesday after investment bank Morgan Stanley's quarterly results easily beat expectations.
Futures for the Dow Jones Industrial Average gained 73 points, or 0.3%, to 24,780
S&P 500 futures tacked on 9.25 points, or 0.3%, to 2,715.75, while futures for the NASDAQ composite index moved ahead 19.5 points, or
0.3%, to 6,847
Shares of Morgan Stanley rose 1.6% in the pre-market after the company said its first-quarter revenue was a record.
United Continental hiked 3.7% and CSX rose 4.3% before the bell on the back of stronger-than-expected earnings.
Other companies set to report quarterly results Wednesday include American Express and Alcoa.
On the economic data front, the Federal Reserve's Beige Book is due out at 2 p.m. ET. Investors will be scouring the documents to see if there are any additional clues on how the U.S. economy is currently performing. Mortgage applications will come out at 7 a.m. ET, as per usual.
Meantime, President Donald Trump will host the second day of his official working visit with Japanese Prime Minister Shinzo Abe in Florida, where the two leaders are expected to talk about peace and stability in the Indo-Pacific region, trade and investment ties.
In Japan, the Nikkei 225 leaped 1.4%, but in Hong Kong, the Hang Seng Index took on 0.7%.
Oil prices added $1.16 to $67.68 U.S. per barrel.
Gold prices jumped $5.20 to $1,354.70 U.S. an ounce.
