Stock futures pointed to a higher opening for Canada's main stock index on Wednesday, as oil prices rebounded after a steep fall in the previous session.
The S&P/TSX Composite Index gained 83.13 points to close Tuesday at 16,465.33.
The Canadian dollar gained 0.04 cents to 76.35 cents U.S. early Wednesday
September futures advanced 0.3% Wednesday.
Energy distributor UGI Corp said on Tuesday it would buy some assets of Columbia Midstream Group from pipeline operator TC Energy Corp for about $1.28 billion to expand its midstream business.
National Bank of Canada raised the rating on Cascades Inc. to outperform from sector perform
National Bank of Canada raised the target price on Dollarama to $52.00 from $49.00
RBC initiated coverage on Tervita Corp. with sector perform rating and $9.00 price target
On the economic calendar, Statistics Canada noted that exports rose 4.6% in May, while imports increased 1.0%.
Thus, this country’s merchandise trade balance with the world was in a surplus position in May for the second time since December 2016. The $762-million surplus in May followed a $1.1 billion deficit in April.
ON BAYSTREET
The TSX Venture Exchange drifted off 0.05 points Tuesday to 585.42
ON WALLSTREET
U.S. stock index futures were higher Wednesday morning, as investors await a fresh batch of economic data amid concerns about global economic growth
Futures for the Dow Jones Industrials added 54 points, or 0.2%, to 26,851.
Futures for the S&P 500 gained 6.5 points, or 0.2%, at 2,986. The index closed at another record high on Tuesday at 2,973.01
NASDAQ futures acquired 20.25 points, or 0.3%, to 7,858.50
International Speedway Corporation is among the few companies reporting earnings Wednesday.
ADP payrolls data for June are expected this morning, likewise weekly jobless claims and international trade data for May.
The Institute for Supply Management’s non-manufacturing index and Services Purchasing Managers Index for June and factory orders for May will follow slightly later in the session.
Overseas, the Nikkei 225 slid 0.5% Wednesday, while in Hong Kong, the Hang Seng index inched back 0.1%
Oil prices gained 41 cents to $56.66 U.S. a barrel.
Gold prices vaulted $11.10 to $1,419.10 U.S. an ounce.
