Canada's main stock index futures were little changed on Wednesday, as optimism triggered by the U.S.-Mexico trade deal faded with investors cautious about Canada's agreement and as they eyed a looming deadline on tariffs with China.
The S&P/TSX Composite Index dropped 88.85 points to close Tuesday at 16,355.54
The Canadian dollar dipped 0.09 cents to 77.25 cents U.S. early Wednesday
September futures gained 0.1% Wednesday
National Bank of Canada reported a 10% rise in third-quarter earnings, beating market expectations, helped by growth in its retail and wealth management businesses.
Teck Resources declined to fix a start date for an ambitious $4.8-billion upgrade to its Quebrada Blanca copper mine in northern Chile on Tuesday, pending fresh investment from a development partner.
Eight Capital raised the target price on Bank of Nova Scotia to $94.00 from $93.00
Eight Capital raised the target price on Bank of Montreal to $124.00 from $119.00
ON BAYSTREET
The TSX Venture Exchange nicked up 0.15 points Tuesday to 716.79
ON WALLSTREET
U.S. stock index futures posted gains ahead of Wednesday's open, as investors awaited news surrounding trade talks between the States, Mexico and Canada.
Futures for the Dow Jones Industrials forged higher five points to 26,090
S&P 500 futures inched up 1.75 points, or 0.1%, to 2,901, while futures for the NASDAQ composite moved ahead 15.25 points, or 0.2%, to 7,593.25
On the earnings front, Brown-Forman, American Eagle Outfitters, Chico's FAS, Dick's Sporting Goods, Salesforce.com, PVH and Guess are set to publish their latest financial figures.
On Monday, the States secured a new trade deal with Mexico, which would replace the current North American Free Trade Agreement and last for 16 years. Canada re-joined talks with the two nations on Tuesday, with Foreign Minister Chrystia Freeland telling reporters that Mexico's "difficult" concessions to the States earlier this week would help lead the way for productive discussions between all the countries this week.
More economic data are set to be published Wednesday. The key piece of information that is likely to keep markets on edge came out at 8:30 a.m. ET — the second estimate of the second quarter's gross domestic product (GDP).
Elsewhere, mortgage applications are due out at 7 a.m. ET, while pending home sales figures due out at 10 a.m. ET.
Overseas, in Japan, the Nikkei 225 added 0.2% while in Hong Kong, the Hang Seng index inched up 0.2%.
Oil prices gained 53 cents to $69.06 U.S. a barrel.
Gold prices picked up $4.70 to $1,209.70 U.S. an ounce.
