Stock futures pointed to a flat opening for Canada's main stock index on Tuesday, with investors betting that the escalating U.S.-China trade spat would inflict less damage than feared.
The S&P/TSX Composite Index leaped 113.73 points to conclude Tuesday trading at 16,196.04
The Canadian dollar was static at 77.09 U.S. early Wednesday
September futures were down 0.01% Tuesday
In a day light on economic data comes news that Eldorado Gold would seek 750 million euros ($877 million U.S.) from Greece for damages the Canadian miner said it suffered due to delays in the issuance of permits for its Skouries project.
CIBC cut the price target on Canfor to $33.00 from $37.00
CIBC cut the rating on Interfor to neutral from outperform
CIBC cut the rating on West Fraser Timber to neutral from outperform
ON BAYSTREET
The TSX Venture Exchange was positive 4.39 points Tuesday to 723.75
ON WALLSTREET
U.S. stock index futures eked out minor gains ahead of Wednesday's open, lifted by positive sentiment seen in markets overseas.
Futures for the Dow Jones Industrials slid 29 points, or 0.1%, to 26,272
S&P 500 futures dropped five points, or 0.2%, to 2,906.75, while futures for the NASDAQ composite faltered 15.75 points, or 0.2%, to 7,508.75
In earnings, Red Hat and Herman Miller are both scheduled to release their latest corporate reports.
On the data front, at 8:30 a.m. ET, housing starts, building permits and the U.S. International Transactions report is due.
As another trading week hits the midpoint, investors continue to monitor trade rifts going on between the U.S. and China. On Monday, the U.S. administration announced that it would inflict 10% tariffs on $200 billion worth of Chinese imports, of which would go onto rise to 25% by year-end.
The news sparked retaliation from China on Tuesday, who announced levies targeting over 5,000 American products – worth $60 billion – which would go into effect next week on Sept. 24
Overseas, in Japan, the Nikkei 225 leaped 1.1% Wednesday, while in Hong Kong, the Hang Seng index soared 1.2%.
Oil prices eked up three cents to $69.88 U.S. a barrel.
Gold prices improved $5.20 to $1,208.10 U.S. an ounce.
