Advertisement
Canada markets closed
  • S&P/TSX

    21,947.41
    +124.19 (+0.57%)
     
  • S&P 500

    5,127.79
    +63.59 (+1.26%)
     
  • DOW

    38,675.68
    +450.02 (+1.18%)
     
  • CAD/USD

    0.7308
    -0.0006 (-0.08%)
     
  • CRUDE OIL

    77.99
    -0.96 (-1.22%)
     
  • Bitcoin CAD

    87,260.60
    +1,305.56 (+1.52%)
     
  • CMC Crypto 200

    1,327.52
    +50.54 (+3.96%)
     
  • GOLD FUTURES

    2,310.10
    +0.50 (+0.02%)
     
  • RUSSELL 2000

    2,035.72
    +19.61 (+0.97%)
     
  • 10-Yr Bond

    4.5000
    -0.0710 (-1.55%)
     
  • NASDAQ

    16,156.33
    +315.37 (+1.99%)
     
  • VOLATILITY

    13.49
    -1.19 (-8.11%)
     
  • FTSE

    8,213.49
    +41.34 (+0.51%)
     
  • NIKKEI 225

    38,236.07
    -37.98 (-0.10%)
     
  • CAD/EUR

    0.6787
    -0.0030 (-0.44%)
     

Futures Slide Despite Stimulus Package

Canada's main stock index futures fell on Wednesday, after oil prices slipped as faltering demand due to the spread of the coronavirus pandemic eclipsed a $2 trillion fiscal package from Washington.

The TSX Composite Index zoomed 1,342.59 points, or 12%, to conclude Tuesday at 12,571.08

The Canadian dollar gained 0.15 cents early Wednesday to 69.40 cents U.S.

March futures dipped 1.7% early Wednesday.

CIBC raised the target price on Emera to $55.00 from $47.00

RBC cut target price on Suncor Energy to $27.00 from $31.00

National Bank of Canada cut the target price Toronto-Dominion Bank to $62.00 from $80.00

ADVERTISEMENT

ON BAYSTREET

The TSX Venture Exchange regained 29.56 points, or 8.4%, Tuesday to 380.75.

ON WALLSTREET

Stock futures looked to an unchanged open Wednesday following Tuesday’s historic rally in anticipation of a coronavirus stimulus deal by Congress. The White House and Senate reached an agreement overnight.

Read: America’s Military Is Dependent On A Metal Controlled By China

Futures for Dow Jones Industrials squirted ahead 26 points, or 0.1%, early Wednesday to 20,634.

Futures for the S&P 500 slipped 19.5 points, or 0.8%, at 2,418.50

Futures for the NASDAQ Composite faded 65.5 points, on 0.9%, to 7,489.25.

The action in the futures market followed an epic comeback on Wall Street. The Dow soared more than 2,100 points, or over 11%, notching its biggest one-day percentage gain since 1933 and its best point increase ever. The S&P 500 rallied 9.4% for its best day since October 2008.

White House and Senate leaders agreed to a massive $2-trillion coronavirus stimulus bill in the middle of the night.

Overseas, in Japan, the Nikkei 225 sprang up 8%, while Hong Kong, the Hang Seng Index took on 3.8%.

Oil prices docked 52 cents to $23.49 U.S. a barrel.

Gold prices gave back $29.30 to $1,631.50 U.S. an ounce.