Bay Street Likely To Open On Mixed Note

(RTTNews) - Canadian shares likely to open on mixed note on Wednesday with investors tracking commodity prices and awaiting U.S. President Donald Trump's announcement of "reciprocal tariffs" later in the day.

The mood is likely to remain quite cautious as Trump's announcement on what White House has dubbed "Liberation Day," threatens to disrupt decades of established trade practices.

In earnings news, BlackBerry (BB.TO) reported adjusted net income for the full fiscal year was $12.5 million and GAAP net loss was $79.0 million. The company's adjusted fourth-quarter net income was $17.7 million and GAAP net loss of $7.4 million.

The Canadian market ended moderately higher on Tuesday despite showing a lack of direction during trading. The benchmark S&P/TSX Composite Index spent the day bouncing back and forth across the unchanged line before eventually closing up 115.78 points or 0.5% at 25,033.28.

The volatility was due to uncertainty about President Donald Trump's trade policies ahead of the announcement of reciprocal tariffs on Wednesday. A report from the Washington Post earlier in the day said White House aides have drafted a proposal to impose tariffs of around 20% on most imports to the U.S.

Asian stocks ended on a muted note on Wednesday as caution prevailed ahead of U.S. President Donald Trump's sweeping tariffs announcement expected later in the day.

Oil extended losses on concerns that new U.S. tariffs may drag on global growth and weigh on fuel demand.

European stocks are down in negative territory in cautious trade as investors await Trump's announcement of "reciprocal tariffs."

In commodities trading, West Texas Intermediate Crude oil futures are down $0.42 or 0.59% at $70.78 a barrel.

Gold futures are gaining $10.70 or 0.34% at $3,156.70 an ounce, while Silver futures are up $0.271 or 0.78% at $34.580 an ounce.