Futures tracking Canada's main stock index rose on Wednesday as rising tensions in the Middle East pumped up oil prices for the fourth straight day, while safe-haven demand boosted gold prices.
Tuesday, the TSX lost 756.33 points, or 2.2%, to 33,784.94.
March futures grew 0.4% Wednesday.
The conflict has jolted investors worldwide as it heads into its fifth day. Goldman Sachs CEO David Solomon said it would take a couple of weeks for the markets to digest the impact of the war on Iran.
President Donald Trump said on Tuesday the U.S. Navy could begin escorting tankers through the Strait of Hormuz if necessary.
Prime Minister Mark Carney said on Wednesday the ongoing conflict was a "failure" of the international order and the U.S. had not consulted its allies before striking Iran.
In corporate news, a Brazilian court halted the transfer of mineral rights to a gold asset sale from Equinox Gold to Chinese metal miner CMOC on Tuesday.
ON BAYSTREET
The TSX Venture Exchange stumbled 41.37 points, or 3.7%, Tuesday to 1,076.23.
ON WALLSTREET
Stock futures rose on Wednesday morning, hinting at a tentative recovery after a volatile previous session.
Futures for the Dow Jones Industrials slid 62 points, or 0.1%, to 48,498.
Futures for the S&P 500 index lost 4.5 points, or 0.1%, to 6,820.75
Futures for the NASDAQ gained 13.5 points, or 0.1%. to 24,769.25.
Major stock averages closed in the red on Tuesday, albeit far off their lows of the day. The S&P 500 slipped about 0.34%, while the Dow lost roughly 403 points, or 0.8%. At one point, the Dow Industrials fell more than 1,200 points. The NASDAQ closed down 1%.
On the earnings front, traders will look for quarterly results from Abercrombie & Fitch, Broadcom and Okta
In Japan, the Nikkei 225 settled 3.6%, while in Hong Kong, the Hang Seng dropped 2%.
Oil prices hiked 36 cents to $74.92 U.S. a barrel.
Gold prices jumped $58.80 to $5,182.50 U.S an ounce.
