Futures for Canada's main stock index were little changed on Wednesday ahead of April inflation data.
The S&P/TSX Composite Index gained 91.12 points to end Tuesday at 16,263.76
The Canadian dollar sank 0.1 cents to 74.20 cents U.S. early Wednesday
June futures deleted 0.02% Wednesday.
Tilray and Aurora Cannabis on Tuesday reported a surge in quarterly revenue, boosted by increased demand following the legalization of recreational cannabis in Canada.
Airline industry analysts have said billionaire Gerry Schwartz's $2.6-billion bid for WestJet Airlines is a bet his private equity firm's deep pockets and patience will help the Canadian carrier weather challenges and build a more formidable competitor against market leader Air Canada.
Canaccord Genuity raised the target price on Badger Daylighting to $53.00 from $47.00
Raymond James cut the target price on Storm Resources to $4.75 from $5.00
JP Morgan raised the price target on Westjet Airlines to $31.00 from $20.00
On the economic slate, Statistics Canada said inflation rose 2.0% on a year-over-year basis in April, following a 1.9% increase in March. On a seasonally adjusted monthly basis, the Consumer Price Index rose 0.3% in April.
Meanwhile, the Canadian Real Estate Association said Home sales recorded via Canadian MLS Systems rose by 3.6% m-o-m in April 2019.
CREA adds, after having dropped in February to the lowest level since 2012, the rebound in sales over the past two months still leaves activity slightly below readings posted over most of the second half of 2018.
ON BAYSTREET
The TSX Venture Exchange added 4.6 points Tuesday to 600.79
ON WALLSTREET
U.S. stock index futures fell on Wednesday after the release of weak China data stoked worries that the global economy is slowing down.
Futures for the Dow Jones Industrial Average dropped 86 points, or 0.3%, to 25,484
Futures for the S&P 500 settled 9.75 points, or 0.3%, at 2,829.50
NASDAQ futures dipped 27 points, or 0.4%, to 7,394
In terms of earnings, Macy’s, Cisco Systems and ZTO Express will report their latest results.
On the data front, retail sales numbers are scheduled for release, alongside the May reading of the Empire State Manufacturing index. U.S. industrial production data is also set for release this morning.
Industrial production in China increased by 5.4% in April on a year-over-year basis, notching the slowest pace of growth since May 2003. Economists expected an expansion of 6.5%.
The slowdown in Chinese industrial production comes as trade tensions between China and the U.S. have reignited. Earlier this week, China hiked tariffs on $60 billion worth of U.S. goods. The move came after the U.S. raised levies on $200 billion worth of Chinese imports. The U.S. also raised the possibility of slapping tariffs on an additional $300 billion in goods from China.
Overseas, the Nikkei 225 recovered 0.6% Wednesday, while in Hong Kong, the Hang Seng index improved 0.5%.
Oil prices fell 64 cents to $61.14 U.S. a barrel.
Gold prices picked up $3.20 to $1,299.50 U.S. an ounce.
