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S&P/TSX Composite Index

15,857.22 real time data change up
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Change: 39.22 (0.25%)

S&P/TSX Venture Composite Index

789.51 real time data change up
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Change: 7.44 (0.95%)
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10:11 AM EDT, September 20, 2017
Futures Nudge Higher on Fed Suspicion

Futures for stocks in Canada's largest market were trading slightly higher on Wednesday, as investors were cautious ahead of a U.S. Federal Reserve policy meeting that may give clues on whether it will raise interest rates for a third time this year.

The S&P/TSX Composite Index grew 56.3 points to close Tuesday at 15,292.97

September futures eked up 0.1% Wednesday morning.

The Canadian dollar hiked 0.3 cents to 81.66 cents U.S. Wednesday morning.

Brookfield Asset Management is considering increasing a takeover offer for Renova Energia SA by 25% in a bid to sway the two largest shareholders in the Brazilian renewable power firm to exit their controlling stakes, two people with direct knowledge of the matter said on Tuesday.

More than 120 birds in Canada's oil heartland of Alberta were killed after getting caught in a pond of oil sands byproducts operated by the country's largest producer, Suncor Energy.

Cowen and Company raised the target price on Air Canada to $40.00 from $23.00

National Bank of Canada cut the target price on Corus Entertainment to $12.50 from $13.00

ON BAYSTREET

The TSX Venture Exchange eked up 0.97 points to conclude Tuesday at 777.75

ON WALLSTREET

U.S. stock index futures pointed to a modestly higher open on Wednesday morning, as traders appeared to adopt a wait-and-see approach ahead of monetary policy guidance from the Federal Reserve.

Futures for the Dow Jones Industrials let go of 11 points, or 0.1%, to 22,325, with shares of both Visa and Pfizer climbing in the pre-market.

S&P 500 futures were unchanged at 2,504.75, while futures on the NASDAQ Composite index lost 2.25 points to 5,994.75

On the earnings front, General Mills earnings missed expectations, driving shares down 4% in pre-market trade.

Herman Miller is due to report after the market close.

While the Fed is not expected to raise rates following its two-day meeting, many market participants believe the central bank will announce the unwinding of its $4.5-trillion portfolio. The U.S. central bank is due to announce its decision at 2 p.m. ET on Wednesday.

Investors will also see existing home sales for August released at around 10 a.m. ET.

Overseas, markets in Europe were pretty much unchanged approaching noon local time, while Japan's Nikkei 225 nicked up 0.1%, and CSI 300 in Shanghai took on 0.3%.

Oil prices gained 57 cents to $50.05 U.S. per barrel.

Gold prices added $7.60 at $1,318.20 U.S. an ounce.



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