Futures for Canada’s main stock index rose on Wednesday as crude and gold prices climbed and investors took stock of the latest tariff threats from U.S. President Donald Trump.
The TSX gained 110.05 points to conclude Tuesday at 25,281.63.
March futures on the S&P/TSX index were up 0.2% Wednesday.
The Canadian dollar was stable at 69.73 cents U.S. Wednesday.
Trump has vowed to impose tariffs on imports from China, Mexico, Canada and the European Union on Feb. 1.
Wednesday, Statistics Canada reported its industrial product price index rose 0.2% month over month in December and increased 4.1% year over year, while its raw material price index grew 1.3% on a monthly basis last month and increased 9.1% year over year.
Markets are now pricing in an 85% probability of a 25 basis-point rate cut at the central bank’s meeting next Wednesday.
ON BAYSTREET
The TSX Venture Exchange lost 4.56 points Tuesday to 614.17.
ON WALLSTREET
S&P 500 and NASDAQ futures rose Wednesday, led by early gains in Netflix, after the streaming giant posted blockbuster quarterly results.
Futures for the Dow Jones Industrials hiked 152 points, or 0.3%, to 44,388.
Futures for the S&P 500 Index grabbed 28.5 points, or 0.5%, to 6,112.75.
Futures for the tech-heavy NASDAQ spiked 188 points, or 0.9%, to 21,897.50.
Netflix shares soared more than 14% after the company surpassed 300 million paid memberships. It’s fourth-quarter earnings and revenue also topped analyst expectations. The streamer’s results got a boost from hit series “Squid Game” and live sporting events such as the Jake Paul and Mike Tyson boxing match.
United Airlines gained more than 3% after the airline operator posted a rosy outlook and issued fourth-quarter results that surpassed expectations.
Earnings season continues Wednesday, with reports from Procter & Gamble set to release. Halliburton and GE Vernova will also post results.
Traders also kept an eye on Washington after President Donald Trump said Tuesday he’s considering a 10% tariff on China beginning as soon as Feb. 1.
Trump also announced a joint venture dubbed “Stargate,” with OpenAI, Oracle and Softbank to invest ?$500 billion, at least” in AI infrastructure in the United States.
In Japan, the Nikkei 225 index leaped 1.6% Wednesday, while in Hong Kong, the Hang Seng index caved 1.6%.
Oil prices gained 13 cents to $75.96 U.S. a barrel.
Gold prices increased $6.60 to $2,765.80 U.S. an ounce.
