Bay Street Seen Opening On Mixed Note
(RTTNews) - Canadian shares are likely to start off on a mixed note on Wednesday amid uncertainty about the near-term outlook for interest rates. Energy stocks are likely to find support thanks to higher oil prices.
In Canadian earnings news, ATS Corporation (ATS.TO) reported third-quarter net income of $47.2 million compared to $29.2 million a year ago.
On the economic front, Canada's trade data for the month of December is due at 8:30 AM ET.
Canada recorded a trade surplus of about C$ 1.6 billion in November, down sharply from a surplus of C$ 3.2 billion in October. Canadian exports dropped by 0.6% to C$65.74 billion in November, while imports increased by 1.9% to C$ 64.2 billion.
The Canadian market ended on a firm note on Tuesday, led by gains in industrials, energy, healthcare and consumer staples sectors. However, the mood remained largely cautious amid a lack of triggers.
The benchmark S&P/TSX Composite Index ended with a gain of 85.85 points or 0.41% at 20,957.74.
Asian stocks closed higher on Wednesday thanks to positive lead from Wall Street and hopes of more support from Beijing.
European stocks are slightly weak with investors weighing hawkish comments from a slew of Federal Reserve officials and digesting the latest batch of economic data from the European region.
In commodities, West Texas Intermediate Crude oil futures are up $0.51 or 0.7% at $73.82 a barrel.
Gold futures are down $2.00 or 0.1% at $2,049.40 an ounce, while Silver futures are lower by $0.113 or 0.5% at $22.365 an ounce.
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