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Stocks to Rise, with Oil’s Help

Baystreet.ca
Stock futures pointed to a higher opening for markets in Canada’s largest centre on Wednesday as oil ...

Stock futures pointed to a higher opening for markets in Canada’s largest centre on Wednesday as oil prices continued to rally on signs that markets are gradually tightening.

The S&P/TSX Composite Index progressed 42.04 points to close Tuesday at 15,770.36

December futures acquired 0.1% Wednesday morning.

The Canadian dollar inched up 0.02 cents at 79.92 cents U.S. Wednesday morning.

A Swedish court ruled Wednesday that an employee at Canadian aircraft and train maker Bombardier was cleared of bribery charges.

Sears Canada moved a step nearer to permanent closure after several attempts to find a buyer failed, with the retailer saying it will seek court approval on Friday to shutter its remaining 130 stores, leaving 12,000 employees without jobs.

TD Securities resumes coverage on Atrium Mortgage Investment Corp. with hold rating and $12.50 price target

ON BAYSTREET

The TSX Venture Exchange gained 5.13 points to end Tuesday at 793.45

ON WALLSTREET

U.S. stock index futures pointed to a slightly weaker open Wednesday, as investors await the minutes release from the latest Federal Open Market Committee meeting.

Futures for the Dow Jones Industrials removed 12 points, or 0.1%, to 22,772.

S&P 500 futures slid 2.75 points, or 0.1%, to 2,545.75, while futures on the NASDAQ Composite index faded 8.25 points, or 0.1%, to 6,057.
In earnings, BlackRock and Delta Air Lines both reported quarterly results that beat expectations.

At 2 p.m. ET on Wednesday, the latest minutes from last month's FOMC meeting will be published. While the U.S. central bank left its benchmark interest rate unchanged in September, the Fed did take its first steps towards unwinding its economic stimulus.

Last month, the Fed announced that it would begin to roll off its $4.5-trillion balance sheet during October, in addition to indicating that another rate hike was likely to occur in 2017.

Elsewhere in data news, Wednesday will mark the release of the latest publication of Job Openings and Labor Turnover Survey (JOLTS), which is set to come out at 10 a.m. ET.

Overseas, European stocks were trading relatively flat approaching noon on the continent Monday, while Japan’s Nikkei 225 gained 0.3%, while in Hong Kong, the Hang Seng Index handed back 0.4%.

Oil prices dipped 0.04 cents to $50.88 U.S. per barrel.

Gold prices surrendered $1.30 to $1,292.50 U.S. an ounce.