Futures for Canada's main stock index inched higher on Wednesday as oil prices rose after industry data showed a fall in stockpiles of U.S. crude.
The S&P/TSX Composite remained positive 84.8 points to close Tuesday at 16,183.59
The Canadian dollar sank 0.15 cents to 75.13 cents U.S. early Wednesday
September futures gained 0.1% Wednesday.
National Bank of Canada reported quarterly profit above analysts' expectations, helped by growth in all its businesses, including personal and commercial lending.
CIBC cut the price target on Bank of Montreal to $105 from $111
RBC cut the target price on Bank of Nova Scotia to $80 from $82
ON BAYSTREET
The TSX Venture Exchange gained 0.4 points Tuesday to 583.64
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Wednesday after a key part of the U.S. yield curve inverted even further, exacerbating fears of an impending recession.
Futures for the Dow Jones Industrials faded 47 points, or 0.2%, to 25,697.
Futures for the S&P 500 sifted off 4.75 points, or 0.2%, at 2,860.75
NASDAQ futures dipped 16.5 points, or 0.2%, to 7,546.25
Guess Inc., Coty Inc. and PVH Corp. are among the firms reporting earnings today.
The closely watched spread between the 10-year Treasury yield and the two-year rate fell to negative six basis points Wednesday. The move extended losses from the previous session when the spread registered its lowest level since 2007.
A 10-year rate below the two-year yield is viewed by fixed income traders as an important recession prognosticator
The White House is scheduled to impose the first stage of U.S. tariffs on $300 billion worth of Chinese goods on Sunday. China is set to respond with tariffs on U.S. products on the same day.
Overseas, in Japan, the Nikkei 225 nicked up 0.1% Wednesday, while in the Hong Kong, the Hang Seng index was down 0.2%
Oil prices gained 80 cents to $55.73 U.S. a barrel.
Gold prices took on $2.90 to $1,554.700 U.S. an ounce.
