Futures tied to Canada’s main stock index fell on Wednesday as cautious investors awaited key economic data from the United States in the run up to the U.S. presidential election next week.
The TSX climbed to within 3.11 points of breakeven, to end Tuesday at 24,562.55.
December futures were down 0.1% Wednesday.
The Canadian dollar sank 0.05 cents to 71.85 cents U.S.
In corporate news, Air Canada will increase direct flights between China and Canada from December, the news arm of China’s aviation regulator said, after Ottawa removed a 2022 limit on how many services Chinese carriers could fly to Canada.
ON BAYSTREET
The TSX Venture Exchange added 2.58 points Tuesday to 619.73.
ON WALLSTREET
S&P 500 futures rose on Wednesday, boosted by strong results from Alphabet, as traders prepared for additional reports from major tech companies and looked ahead to a key reading on the U.S. economy’s growth.
Futures for the Dow Jones Industrials faltered 82 points, or 0.2%, to 42,365.
Futures for the broader index squeezed higher 8.5 points, or 0.1% to 5,879.50.
Futures for the NASDAQ Composite Index moved higher 51.75 points, or 0.3%, to 20,748.25.
Chipmaker AMD slid 8% in the premarket, as its fourth-quarter revenue guidance failed to impress investors.
Tech titans Meta Platforms and Microsoft are set to report on Wednesday, while Apple and Amazon are due Thursday.
On the economic front, investors are anticipating the first preliminary reading of the gross domestic product out on Wednesday. The report is expected to show that GDP grew at a 3.1% annualized pace in the third quarter, according to the Dow Jones consensus forecast. That would be just 0.1 percentage point above the previous period if accurate, and would be the 10th straight quarter of expansion. It’s also expected to show inflation moving closer to or coming out below the Federal Reserve’s 2% inflation target.
In Japan, the Nikkei 225 gained 1% Wednesday, while in Hong Kong, the Hang Seng folded 1.6%.
Oil prices gained 77 cents to $67.98 U.S. a barrel.
Gold prices hiked $11.60 to $2,792.70.
