Futures for Canada's main stock index edged higher on Wednesday as traders awaited minutes from the U.S. Federal Reserve's November policy meeting due later in the day.
The TSX Composite leaped 242.88 points, or 1.2%, to end Tuesday at 20,220.01.
December futures on the S&P/TSX index inched up 0.1%.
The Toronto Stock Exchange's S&P/TSX composite index had closed at its highest level in more than three months on Tuesday, supported by commodity stocks.
The Canadian dollar retreated 0.03 cents to 74.52 cents U.S.
ON BAYSTREET
The TSX Venture Exchange climbed 5.23 points Tuesday to 576.38.
ON WALLSTREET
U.S. stock futures were marginally higher on Wednesday morning, as investors looked ahead to Federal Reserve meeting minutes for clues into the pace of future interest rate hikes.
Futures for the Dow Jones Industrials picked up 20 points, or 0.1%, to 34.146.
Futures for the S&P 500 gathered six points, or 0.2%, to 4,016.25.
Futures for the NASDAQ Composite gained 30 points, or 0.3%, to 11,784.50.
Shares of Nordstrom fell more than 8% in the pre-market after the department store chain reaffirmed its forecast. However, Nordstrom beat profit and sales expectations in its latest results, according to consensus expectations on Refinitiv.
Investors shrugged off fears of further lockdowns in China after the country reported its first COVID deaths since May. Instead, traders focused on some strong earnings reports, and bet on the likelihood for an easing in monetary policy from the Fed going forward.
Earlier in November, the central bank approved a fourth consecutive 0.75-percentage-point hike that brought rates to their highest level since 2008. Economists are forecasting a half percentage point increase in December, and smaller rate hikes next year.
Additionally, investors will parse through the latest jobless claims data. Economists polled by Dow Jones are forecasting claims of 225,000 for the week ending Nov. 19, a slight increase from the 222,000 initial claims the prior week.
They’re also expecting the latest data on durable goods and new home sales in October. Durable goods in October are expected to have risen 0.5% from the prior month, according to estimates from Dow Jones.
Markets will be closed on Thursday for the Thanksgiving holiday and will close early on Friday.
In Hong Kong, the Hang Seng Index gained 0.6%. Markets in Japan were shuttered for holiday.
Oil prices sank $1.80 to $79.06 U.S. a barrel.
Gold prices dipped $1.30 to $1,738.60 U.S. an ounce.
