Futures for Canada's main stock index fell on Wednesday, with investors focusing on interest rate decision from the Bank of Canada.
The S&P/TSX Composite Index slumped 127.53 points to close Tuesday’s session at 15,285.17
The Canadian dollar slid 0.02 cents to 76.40 cents U.S. early Wednesday
December futures faded 0.2% Wednesday
Restaurant Brands International reported a quarterly profit that missed analysts' estimates as its Burger King unit struggled in a fiercely competitive U.S. market, offsetting gains in its Tim Hortons cafes.
Canadian National Railway reported a better-than-expected third-quarter profit on Tuesday as the railroad shipped higher volumes of crude and grains.
National Bank Of Canada cut the target price on IPL Plastics to $13.50 from $16.00
CIBC cut the target price on TVA Group to $3.00 from $4.25
This morning at 10 p.m. ET, the Bank of Canada announces its trendsetting rate. The country’s worst-kept secret has the central bank raising the rate a quarter-point.
ON BAYSTREET
The TSX Venture Exchange fell 9.63 points, or 1.5%, to 650.53
ON WALLSTREET
U.S. stock index futures indicated a mixed start to the trading day amid a slew of corporate earnings reports.
Futures for the Dow Jones Industrials faded six points to 25,238
S&P 500 futures swooned 8.25 points, or 0.3%, to 2,738, while futures for the NASDAQ composite dropped 23 points, or 0.3%, to 7,117.25
Dow futures pared losses on Wednesday after Boeing posted stronger-than-forecast quarterly earnings. The aerospace giant also raised its earnings and revenue guidance for the year. Boeing shares shot up more than 3% in the pre-market.
AT&T and UPS also reported earnings before the bell. Their shares both fell at least 1.5%. Ford, Microsoft, Tesla, and Visa are set to report after the bell.
This is the busiest week of the earnings season, with more than 100 companies scheduled to report earnings.
Stocks have been on a wild swing, with the Dow recovering most of a 500-point decline Tuesday. At its session lows, the Dow had fallen 548.62 points, while the S&P 500 and Nasdaq had lost more than 2% each on Tuesday. The comeback was led by McDonald's, which rose more than 6% on strong earnings, and a 0.7% gain in Procter & Gamble.
The major indexes, however, remain down sharply for the month. Through Tuesday's close, they are down at least 4.8% for October.
Overseas, in Japan, the Nikkei 225 picked up 0.4% Wednesday, while in Hong Kong, the Hang Seng index slipped 0.4%.
Oil prices gained 35 cents to $66.78 U.S. a barrel.
Gold prices sank $3.70 to $1,233.10 U.S. an ounce.
