Futures for Canada's main stock index vaulted on Wednesday, as oil prices recovered, helped by a wider market pickup on upbeat data from China's services sector.
The S&P/TSX Composite fell 42.84 points to close Tuesday’s session at 16,399.23
The Canadian dollar inched up 0.1 cents to 75.07 cents U.S. early Wednesday
September futures rocketed 0.6% Wednesday.
TD Securities cut the target price Calfrac Well Services to $1.50 from $2.00
RBC raised the target price on Crescent Point Energy to $7.00 from $6.00
National Bank of Canada cut the target price on Dirtt Environmental Solutions to $9.75 from $11.00
On the economic front, Statistics Canada reported that imports rose 1.2% in July, while exports fell 0.9%. As a result, Canada's merchandise trade balance with the world went from an essentially balanced position in June to a $1.1-billion deficit in July.
ON BAYSTREET
The TSX Venture Exchange gained 2.92 points Tuesday to 592.28
ON WALLSTREET
U.S. stock index futures were sharply higher Wednesday as tensions in Hong Kong eased after the withdrawal of a controversial bill, easing tensions between the government and protesters.
Futures for the Dow Jones Industrials roared ahead 225 points, or 0.9%, early Wednesday to 26,347
Futures for the S&P 500 advanced 26.25 points, or 0.9%, at 2,932.25
NASDAQ Composite futures gained 81.5 points, or 1.1%, to 7,699
American Eagle Outfitters and Palo Alto Networks were among the firms scheduled to report earnings today.
On the data front, international trade figures for July were to be released at 8:30 a.m., and light vehicle sales data for August were set to follow later in the session.
Overseas, in Japan, the Nikkei 225 nicked up 0.1% Wednesday, while in the Hong Kong, the Hang Seng index popped 3.9%
Hong Kong leader Carrie Lam said that she will withdraw a contentious extradition bill that has sparked months of mass protests.
Oil prices gained 92 cents to $54.86 U.S. a barrel.
Gold prices dropped $9.70 to $1,546.20 U.S. an ounce.
