Futures Encouraging at Wednesday Open

SNC, Bay in Focus

Futures for Canada's main stock index edged higher on Wednesday, as investors were encouraged by hopes of a resolution to the Sino-U.S. trade standoff.

The S&P/TSX Composite surged 42.25 points to end Tuesday at 16,537.34

The Canadian dollar doffed 0.03 cents to 76.04 cents U.S. early Wednesday

Futures gained 0.3% early Wednesday.

A unit of Spain's Ferrovial S.A. is appealing a Canadian court decision over SNC Lavalin Group's former 10.01% stake in a toll highway.

Catalyst Capital Group holds roughly 16% of Hudson's Bay Co shares after investors took part in its tender offer, bolstering the buyout firm's position against a take-private deal, according to a Canadian securities filing made on Tuesday.

JP Morgan established a Dec. 2020 price target of $41 on Canadian Natural Resources, compared to a Dec. 2019 price target of $44

CIBC raised the price target on Fortis to $56 from $55

ON BAYSTREET

The TSX Venture Exchange fell 1.15 points Tuesday to 582.56

ON WALLSTREET

Stock futures rose slightly on Wednesday as tech shares tried to recover some of the ground they have lost this week.

Futures for the Dow Jones Industrials picked up 61 points, or 0.2%, early Wednesday to 26,955

Futures for the S&P 500 gained 4.75 points, or 0.2%, at 2,983.25

NASDAQ Composite futures acquired 17.25 points, or 0.2%, to 7,834

Tech firms looked promising as Micron improved 1.5%, and Advanced Micro Devices rose 0.3%. Facebook traded 0.3% higher.

The latest reading on the producer price index is set for release Wednesday morning. Wall Street will pore through the data as they look for clues on the Federal Reserve’s next move on monetary policy.

The U.S. central bank is largely expected to lower rates in a meeting next week. Market expectations for a September rate cut are at 91.2%

Overseas, in Japan, the Nikkei 225 jumped 1% Tuesday, while in the Hong Kong, the Hang Seng index zoomed 1.8%

Oil prices hiked 46 cents to $57.86 U.S. a barrel.

Gold prices nosed ahead 50 cents to $1,499.70 U.S. an ounce.