Futures tracking Canada's main stock index fell on Wednesday after a two-day rally as investors were on edge ahead of U.S. labour market data due later in the day.
The TSX Composite shot higher 489.80 points, or 2.6%, to close Tuesday at 19,370.99.
December futures were down 0.7% on Wednesday.
The Canadian dollar capsized 0.59 cents to 73.44 cents U.S.
In individual company news, Link Administration received a bid of A$1.27 billion ($825.37 million U.S.) from Canada's Dye & Durham (D&D) for its corporate markets and banking segments, days after D&D's takeover offer for the entire company fell through.
On the economic slate, Statistics Canada announced building permits increased 11.9% in August to $12.5 billion. Both the residential sector (+12.0% to $8.4 billion) and non-residential sector (+11.8% to $4.0 billion) saw strong gains, with Ontario causing much of the increase.
Also in August, Canada's merchandise exports decreased 2.9%, while imports fell 1.7%. As a result, Canada's merchandise trade surplus with the world narrowed from $2.4 billion in July to $1.5 billion in August. This is the lowest monthly trade surplus observed to date in 2022.
ON BAYSTREET
The TSX Venture Exchange sprinted 14.94 points, or 2.5%, Tuesday to 622.92.
ON WALLSTREET
U.S. stock futures fell on Wednesday, putting Wall Street on track to give back some of its sharp gains from the last two sessions.
Futures the Dow Jones Industrials plunged 250 points, or 0.8%, to 30,115.
Futures for the S&P 500 faded 31.5 points, or 0.8%, to 3,771.75.
Futures for the NASDAQ Composite dropped 100 points, or 0.9%, to 11,540.75.
Bionano Genomics saw its shares jumped 11.3% after the company published a study on using optical genome mapping to investigate liver cancer.
Morgan Stanley dipped 1.4%, while Goldman Sachs slid 1.6% after Atlantic Equities downgraded both stocks due to the potential of declining investment banking volume.
General Motors shares dipped 1.8% after Morgan Stanley lowered its price target on the stock.
Meanwhile, a weakening in the most recent job openings data had some investors considering whether the Federal Reserve will slow the pace of interest rate hikes.
Market participants wondered whether those signs could mean markets have finally priced in a bottom after the sharp declines in the prior quarter.
Traders are expecting a raft of economic reports on Wednesday.
Data on weekly mortgage applications is expected. September’s ADP private payrolls showed businesses created 208,000 in September. That number is better than the 200,000 Dow Jones estimate and ahead of the upwardly revised 185,000 in August, according to ADP.
The latest international trade reading is due at 8:30 a.m. ET, while the ISM services index is set to be released at 10 a.m. ET.
In Japan, the Nikkei 225 gained 0.5%, while in Hong Kong, the Hang Seng returned to trading with a massive gain of 5.9%.
Oil prices gained 16 cents to $86.68 U.S. a barrel.
Gold prices stumbled $15.80 to $1,714.70 U.S. an ounce.
