Baystreet.ca - Futures tied to Canada's main stock index struggled to find direction on Wednesday, after a report said U.S. President-elect Donald Trump was considering declaring a national economic emergency to allow for a new tariff program.
The TSX weakened 69.9 points to end Tuesday at 24,929.89.
The Canadian dollar gave up 0.13 cents to 69.48 cents U.S. Wednesday.
March futures hesitated 0.07%.
In corporate news, Calibre Mining (TSX:CXB) announced fourth-quarter gold production figures.
ON BAYSTREET
The TSX Venture Exchange retreated 5.28 points to 612.91.
ON WALLSTREET
U.S. stock futures traded lower on Wednesday. The action comes after a sharp decline in Big Tech stocks and renewed fears over the path of rate cuts spurred a selloff on Wall Street.
Futures for the Dow Jones Industrials sank 86 points, or 0.2%, to 42,717.
Futures for the S&P 500 Index dipped 18.5 points, or 0.3%, to 5,935.75.
Futures for the tech-heavy NASDAQ fell 86 points, or 0.4%, to 21,273.75.
Futures appeared to take a leg down earlier after news reports President-elect Donald Trump is considering declaring a national economic emergency to push through new tariffs.
Palantir (NASDAQ:PLTR), one of the biggest gainers in the S&P 500 last year rising more than 340%, was down for a third straight day in the premarket, losing 3%. Chipmaker Advanced Micro Devices (NASDAQ:AMD) shed nearly 3% after a downgrade by HSBC.
Investors are now looking ahead to the ADP (NASDAQ:ADP) private payrolls report and jobless claims data, both due Wednesday morning. Minutes from the Fed’s December meeting are slated for release at 2 p.m. ET.
In Japan, the Nikkei 225 shed 0.3%, while in Hong Kong, the Hang Seng index dumped 0.9%.
Oil prices gathered 56 cents to $74.81 U.S. a barrel.
Gold prices took on 80 cents to $2,666.20 U.S. an ounce.