Futures were flat on Wednesday, mirroring subdued moves across global equity markets, as investors awaited inflation data for clues on the health of the domestic economy amid the COVID-19 pandemic.
The TSX fell 30.06 points to conclude Tuesday at 16,626.06.
The Canadian dollar inched up 0.05 cents Wednesday to 76.04 cents U.S.
September futures eked up 0.1% Wednesday.
RBC raised price target on West Fraser Timber to $85 from $77
Piper Sandler cut the price target on Bausch Health Companies to $26 from $32
Eight Capital raised the target price on K-Bro Linen to $33.00 from $28.00
In the economic docket, Statistics Canada reported June’s wholesale sales jumped 18.5% to $62.1 billion, building on a 5.8% gain in May.
The Consumer Price Index (CPI) rose 0.1% on a year-over-year basis in July, down from a 0.7% increase in June. On a seasonally adjusted monthly basis, the CPI fell 0.1% in July, following a 1.0% increase in June.
The appointment of a journalist with little corporate experience to manage the finances of a G7 country would typically be seen as risky, but markets barely hiccupped on Tuesday after Chrystia Freeland was appointed Canada's finance minister.
ON BAYSTREET
The TSX Venture Exchange climbed 13.22 points, or 1.8%, Tuesday to 750.87.
ON WALLSTREET
U.S. stock futures were higher early Wednesday, a day after the S&P 500 hit its highest level ever and wiped out all the losses from the coronavirus selloff.
Futures for Dow Jones Industrials gained 24 points, or 0.1%, early Wednesday, to 27,741.
Futures for the S&P 500 nicked up two points, or 0.1%, at 3,389.
Futures for the NASDAQ lopped off 14.25 points, or 0.1%, to 11,395.
Target shares jumped 5% after the retailer reported soaring profit and sales last quarter. Digital sales increased by 197% from a year ago.
Lowe’s shares gained 1% after the home improvement retailer reported a 30% surge in second-quarter revenue.
Coronavirus cases in the U.S. are trending lower, but officials are cautious as students begin returning to school and college campuses. Some colleges have been forced to change to all online learning because of outbreaks.
Shares of retailers capped the major averages gains on Tuesday, despite Walmart and Home Depot’s better-than-expected quarterly results. Kohl’s plunged more than 14% after the company offered a grim outlook ahead of the all-important holiday season.
Closely watched chip stock Nvidia reports quarterly results after the market close on Wednesday.
Investors are still eyeing a second coronavirus stimulus bill from Washington.
The Federal Open Market Committee will publish its meeting minutes from its June meeting on Wednesday at 2 p.m. ET.
Overseas, in Japan, the Nikkei 225 gained 0.3%, while in Hong Kong, the Hang Seng index dropped 0.7%.
Oil prices faltered 39 cents to $42.50 U.S. a barrel.
Gold prices dropped $19.50 to $1,993.60 U.S.
