Futures linked to Canada's main stock index declined on Wednesday, dragged down by falling crude prices, a day after the TSX closed at a record high.
The TSX Composite Index jumped 243.71 points, or 1.1%, to conclude Tuesday trading at 22,995.39.
The Canadian dollar edged up 0.06 cents U.S.
September futures dropped 0.2% Wednesday.
In corporate news, storage company Storagevault Canada agreed to acquire two adjacent properties in southern Ontario from two arm's length vendors for $71.5 million.
On the economic beat, foreign investment in Canadian securities surpassed Canadian investment in foreign securities for a second consecutive month in May. Non-resident investors acquired $20.9 billion of Canadian securities. Meanwhile, Canadian investors purchased a moderate $3.9 billion of foreign securities.
ON BAYSTREET
The TSX Venture Exchange gained 4.59 points Tuesday to 599.14.
ON WALLSTREET
Stock futures slid on Wednesday as the rotation out of high-flying technology shares continued.
Futures for the Dow Jones Industrials lost 103 points, or 0.3%, to 41,152.
Futures for the S&P 500 fell 50.5 points, or 0.9%, at 5,666.75.
Futures for the NASDAQ Composite gave back 286 points, or 1.4% to 20,312.
Apple and Tesla each dropped around 2% before the bell. That offered the latest sign of investors pulling back on megacap technology after the group’s monster run this year as artificial intelligence captured the market’s interest.
Semiconductor stocks struggled in particular within the tech sector following a Bloomberg News report that the Biden administration is considering tougher trade restrictions if companies continue granting China access to U.S.-made technology.
Nvidia fell 4% and U.S.-listed shares of Taiwan Semiconductor lost around 2%, in the premarket.
Moreover, Novo Nordisk and Eli Lilly shares dipped before the bell on Wednesday after Roche shared promising early stage trial data for its latest obesity drug candidate.
Shares of both Novo and Eli Lilly slipped more than 3% in the premarket. The former is known for the Wegovy drug, while the latter produces Zepbound.
In Japan, the Nikkei 225 gave way 0.4% Wednesday, while in Hong Kong, the Hang Seng nicked up 0.1%.
Oil prices docked 67 cents to $81.43 U.S. a barrel.
Gold prices hiked $10.10 to $2,477.90
