Down Session Foreseen for TSX
Futures linked to Canada's main stock index fell on Wednesday as oil and metal prices declined, while investors stayed on the sidelines ahead of an expected U.S. Federal Reserve interest rate rise later in the day.
The TSX declined 29.98 points to close Tuesday to 20,552.14.
September futures slid 0.4% Wednesday.
The Canadian dollar leaned lower 0.14 cents to 75.69 cents U.S.
Rogers Communications, missed Wall Street estimates on Wednesday for second-quarter revenue, hit by slower growth in the telecom giant's wireless and media businesses.
Canadian retailer Loblaw on Wednesday beat Wall Street expectations for second-quarter revenue and profit, helped by sustained demand for groceries and drugs and higher prices.
ON BAYSTREET
The TSX Venture Exchange regained 2.98 points to finish Tuesday at 614.97.
ON WALLSTREET
U.S. stock futures fell slightly Wednesday as investors weighed a batch of corporate earnings from major technology names and geared up for the Federal Reserve’s latest interest rate decision.
Futures for the 30-stock index sank 36 points, or 0.1% to 35,568.
Futures for the S&P 500 docked 7.25 points, or 0.2%, to 4,588.75.
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Futures for the NASDAQ slumped 42 points, or 0.3%, to 15,631.
Google-parent Alphabet rose more than 7% as cloud revenue growth helped propel the company to a better-than-expected quarter. On the other hand, Microsoft slid more than 3% after reporting slowing cloud revenue growth.
Outside of Big Tech, Snap tumbled 17% after giving weak guidance for current-quarter performance.
Elsewhere, Boeing popped 4% after reporting second-quarter results that beat analyst expectations, because of a pickup in commercial aircraft deliveries. Coca-Cola added more than 1% after the soft drink company raised its full-year outlook and beat earnings and revenue expectations. AT&T gained more than 1% after beating second-quarter free cash flow estimates.
Investors are counting down to the Federal Reserve’s latest interest rate policy decision and subsequent news conference with Chair Jerome Powell scheduled for Wednesday afternoon. The market is pricing in around a 98% chance the central bank raises interest rates, according to the CME Group’s FedWatch Tool. That would mark a return to hikes after not increasing interest rates in June.
In Japan, the Nikkei 225 fell back just more than 14 points, while in Hong Kong, the Hang Seng docked 0.4%.
Oil prices dipped 81 cents to $78.82 U.S. a barrel.
Gold prices recovered $10.40 to $1,974.10. U.S. an ounce.