Baystreet.ca – Futures tied to Canada’s main stock index were muted on Wednesday as investor caution ahead of overshadowed gains in crude prices.
The fell short of breakeven 24.06 points Tuesday to 23,003.09.
September futures on the S&P/TSX index were unchanged Wednesday.
The grabbed 0.18 cents to 73.65 cents U.S.
In corporate news, Suntory Holdings CEO Takeshi Niinami said in a Reuters NEXT Newsmaker interview that Seven & i responded fairly by rejecting Alimentation Couche-Tard’s $39-billion U.S. takeover bid.
Meanwhile, global markets also reacted to the U.S. presidential debate on Tuesday, where Democrat Kamala Harris put Republican Donald Trump on a defensive.
The debate also perked up the odds of Harris’ victory in the upcoming presidential elections
ON BAYSTREET
The Exchange moved upwards 3.94 points to 552.90.
ON WALLSTREET
U.S. stock futures slipped Wednesday as investors looked toward the August consumer inflation report.
Futures for the tumbled 164 points, or 0.4% to 40,634.
Futures for the S&P 500 lost 14.25 points, or 0.3%, at 5,489.75.
Futures for the NASDAQ dropped 58 points, or 0.3%, to 18,806.
Shares of GameStop (NYSE:) dropped 10% in the premarket. The video game retailer amended an open market sale agreement filed with the U.S. Securities and Exchange Commission, allowing it to sell up to 20 million additional shares of its Class A common stock.
Economists polled by Dow Jones expect the headline CPI to have risen 0.2% from the previous month and 2.6% from a year earlier.
The CPI report and Thursday’s producer price index could help determine the size of a widely expected rate cut at the end of the Federal Reserve’s two-day meeting on Sept. 18. Fed funds futures trading suggests a 69% chance of a 25-basis-point rate cut and a 31% likelihood of a 50-basis-point reduction,
In Japan, the sank 1.5% Wednesday, while in Hong Kong, the fell 0.7%.
Oil prices recovered $1.51 to $67.26 U.S. a barrel.
prices soared $7.26 to 2,550.70.
