Baystreet.ca - Futures for Canada's main stock index bounced back on Wednesday after the index fell to week lows in the previous session in a catch-up to Monday's global stocks rout, while a bump in oil and gold prices further helped the recovery.
The TSX Composite Index sank 248.27 points, or 1.1%, to conclude a dismal Tuesday at 21,979.36.
The Canadian dollar picked up 0.25 cents to 72.78 cents U.S.
September futures on the S&P/TSX index were up 0.6% Wednesday.
Investors will parse through a slew of corporate reports, including names like Manulife Financial (TSX:MFC) among others.
Shopify (TSX:SHOP) beat analysts' estimates for quarterly revenue as its AI-powered tools helped pull in more merchants to its e-commerce services.
Air Canada (TSX:AC) reported a lower second-quarter profit, as excess capacity in certain markets and stiff competition on international routes hurt its pricing power.
On the economic calendar, the July IVEY PMI index is due for release Wednesday (about 9:30 a.m.)
ON BAYSTREET
The TSX Venture Exchange tumbled 12.89 points, or 2.3%, Tuesday to 542.67.
ON WALLSTREET
Stock futures popped Wednesday after Wall Street snapped a three-day losing streak. Investors also looked to claw back more of the losses suffered earlier in the week.
Futures for the Dow Jones Industrials zoomed 295 points, or 0.8%, to 39,442.
Futures for the S&P 500 index advanced 54 points, or 1%, at 5,320.50
Futures for the NASDAQ jumped 213.5 points, or 1.2%, to 19,389.50.
Wall Street is coming off a strong session. The S&P 500 and the NASDAQ each advanced 1%, while the 30-stock Dow added nearly 300 points.
On Monday, the Dow and the broad-market S&P 500 posted their worst session since 2022, fueled by recession worries and the unwinding of the yen carry trade.
Shares of Super Micro Computer pulled back more than 14% after the server company’s fiscal fourth-quarter earnings missed analyst estimates. Airbnb (NASDAQ:ABNB) slipped 16% after issuing disappointing second-quarter results.
In Japan, the Nikkei 225 took on 1.2% Wednesday, while in Hong Kong, the Hang Seng index gained 1.4%.
Oil prices gained $1.63 to $74.83 U.S. a barrel.
Gold prices hiked $11.40 to $2,443
Futures Perk for Second Straight Day