Futures for Canada’s resources-heavy stock index were muted as investors await more U.S. economic data this week to adjust their expectations for the Federal Reserve’s monetary policy path, though gains in commodity prices offered some support.
The TSX Composite gained 61.8 points by Tuesday’s closing bell to 21,831.02.
March futures squeaked up 0.1% Wednesday.
The Canadian dollar poked up 0.02 cents to 74.13 cents U.S.
Transcontinental beat adjusted profit per share estimates for the first quarter on Wednesday.
Singapore Telecommunications (SingTel) is looking to sell a stake in its wholly owned Australian unit Optus to Canadian private equity giant Brookfield.
ON BAYSTREET
The TSX Venture Exchange slid 5.77 points, or 1%, Tuesday to 553.57.
ON WALLSTREET
Stock futures were calm on Wednesday after Wall Street saw the S&P 500 close at a fresh high.
Futures for the Dow Jones Industrials moved upward 36 points, or 0.1%, to 39,516.
Futures for the S&P 500 picked up four points, or 0.1%, to 5,245.25.
Futures for the NASDAQ gained 3.75 points to 18,481, after February U.S. inflation data came in about in line with expectations.
The bull market for stocks has shown signs of broadening out in recent weeks, but chipmaker Nvidia still remains a key bellwether. Shares of Nvidia rose more than 7% on Tuesday, erasing nearly all of their losses from the prior two sessions and bringing the year to date gain to about 86%.
In Japan, the Nikkei 225 faded 0.3% Wednesday, while in Hong Kong, the Hang Seng index lost 0.1%.
Oil prices jumped $1.16 to $78.72 U.S. a barrel.
Gold prices acquired three dollars to $2,169.10.
