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TSX on Mend After Heavy Losses Tuesday

Manulife, Barrick in Focus

Futures for Canada's main stock index rebounded on Wednesday, tracking gains on Wall Street after sharp losses in the previous session on hot U.S. inflation data, with further support from rising crude prices.

The TSX Composite parted ways with 482.33 points, or 2.3%, to close Tuesday at 20,584.97.

March futures shot up 0.8% Wednesday.

The Canadian dollar gained 0.13 cents to 74.84 cents U.S.

Investors will also keenly monitor corporate earnings in Canada with the largest insurer Manulife Financial and gold miners like Dundee Precious Metals and Kinross Gold among others set to report their quarterly results after the bell on Wednesday.

In corporate news, miner Barrick Gold beat analysts' estimates for fourth-quarter profit, helped by robust gold production and higher prices.


The TSX Venture Exchange retreated 11.72 points, or 2.1%, Tuesday to 537.20


U.S. stock futures nudged higher Wednesday after the Dow Jones Industrial Average posted its biggest decline since March 2023.

Futures for the 30-stock index recovered 184 points, or 0.4%, to 38,482.

Futures for the S&P 500 climbed 29 points, or 0.6%, at 5,000.25.

Futures for the NASDAQ jumped 132.75 points, or 0.8%, to 17,809.50.

Lyft shares jumped more than 19% in the pre-market after the ride-hailing company posted better-than-expected earnings in the fourth quarter. Airbnb slipped more than 5% even as the company beat on revenue expectations in its latest quarter.

In Japan, the Nikkei 225 demurred 0.7%, while Hong Kong, the Hang Seng index returned to trading with a gain of 0.8%.

Oil prices eked ahead eight cents to $77.95 U.S. a barrel.

Gold prices docked $2.10 to $2,005.10 U.S. an ounce.