Futures tracking Canada's blue-chip stocks edged higher on Wednesday as higher oil prices improved prospects for energy stocks, offsetting the impact of lower gold prices on mining stocks.
The TSX spiked 179.33 points to 36,107.96.
The Canadian dollar eked up 0.11 cents to 71.20 cents U.S.
December futures inched up 0.2% Wednesday morning.
The U.S. Federal Reserve is expected to keep interest rate on hold this month and deliver a hike in ?December, according to nearly all economists polled by Reuters
The federal budget ?will be delivered on November 5, Finance Minister Francois-Philippe Champagne told the House of Commons on Tuesday
Traders are ?pricing in an 80% chance of a Bank of ?Canada rate hike next week, and a percentage point hike over the next 12 months
Japan's Mitsubishi Corp approved the construction of a copper mining project in Arizona, jointly with Hudbay Minerals
ON BAYSTREET
The TSX Venture Exchange lost 0.71 points Tuesday to 846.
ON WALLSTREET
U.S. stock futures were up on Wednesday as traders weighed the latest round of earnings reports.
Futures for the Dow Jones Industrials strengthened 55 points, or 0.1%, early Wednesday to 52,774.
Futures for the S&P 500 added 18 points, or 0.2%, to 7,773.
Futures for the NASDAQ Composite hiked 186.50 points, or 0.6%, to 29,861.75.
Shares of Elon Musk’s SpaceX surged 7% in premarket trading after the company said its revenue grew 161% in the third quarter. Musk also said that SpaceX and Tesla, his auto manufacturer, have formed special committees to discuss a merger. Tesla, which is due to report earnings later, was up more than 1%.
Netflix shares, however, tumbled more than 6% after the streaming mainstay’s full-year revenue forecast came in below analysts’ expectations. The company also cut its ad revenue guidance for the full year.
Traders are also watching for results from IBM and Southwest Airlines, also due Wednesday.
In Japan, the Nikkei 225 tacked on 0.9% Wednesday, while in Hong Kong, the Hang Seng backed off 0.9%.
Oil prices gained 92 cents to $98.74 U.S. a barrel.
Gold prices moved ahead $14.60 to $4,157.20 U.S an ounce.
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