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S&P/TSX Composite Index

15,855.76 real time data change down
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Change: -1.46 (-0.01%)

S&P/TSX Venture Composite Index

785.19 real time data change down
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Change: -4.32 (-0.55%)
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9:18 AM EDT, October 04, 2017
Oil Weighs on Futures Wednesday

Canada's main stock index futures dipped on Wednesday as oil prices fell on caution that rising U.S. crude output could scupper a rally that lasted for most of the third quarter.

The S&P/TSX Composite Index gained 23.51 points to close Tuesday at 15,728.51

December futures retreated 0.1% Wednesday morning.

The Canadian dollar hiked 0.24 cents to 80.30 cents U.S. Wednesday morning.

Toronto-Dominion Bank is opening an office in Tel Aviv, to recruit workers with cutting edge cybersecurity skills, after finding a shortage of talent in North America.

Toronto home sales plunged in September from a year earlier and prices were down 15.5% from their April peak, but sales and prices inched up from August, suggesting housing in Canada's largest city may be stabilizing, data showed.

Canadian auto sales rose 7.7% in September, driven by strong demand for trucks, which made up for nearly 70% of total sales in the country.

Raymond James cut the price target on Crown Capital Partners to $11.50 from $12.00

Canaccord Genuity raised the price target on Pengrowth Energy to $0.90 from $0.85

ON BAYSTREET

The TSX Venture Exchange inched ahead 0.82 points Tuesday to 781.28

ON WALLSTREET

U.S. stock index futures pointed to a relatively flat open on Wednesday, as investors look to key data and a speech by a leading member of the U.S. central bank.

Futures for the Dow Jones Industrials hesitated 15 points, or 0.1%, to 22,593.

S&P 500 futures slid 1.75 points, or 0.1%, to 2,531, while futures on the NASDAQ Composite index fell nine points, or 0.2%, to 5,989.

In earnings, PepsiCo reported mixed quarterly results. Its full-year earnings-per-share forecast, however, topped expectations, sending the stock higher.

Elsewhere in stock news, Amazon was ordered to pay nearly $300 million after the European Commission said the online retailer had received illegal tax benefits in Luxembourg.

Meanwhile, Microsoft's Chief Executive Satya Nadella will be in Washington, D.C., where he is set to participate in a discussion organized by the Economic Club of Washington, D.C.

Federal Reserve Chair Janet Yellen is expected to deliver opening remarks at the Community Banking in the 21st Century Research and Policy Conference in St. Louis; where investors will be watching closely for any indications as to how the U.S. economy is faring at present.

On the data front, the U.S.'s services Purchasing Managers' Index (PMI) is due out at 9:45 a.m. ET, followed by the ISM's non-manufacturing report on business, set to come out at 10 a.m. ET. The ADP national employment report showed private sector jobs grew by 135,000 last month, a sharp decline from 228,000 in August.

Overseas, European stocks traded mostly lower approaching noon on the continent Monday, while Japan's Nikkei 225 inched up 0.1%, while in Hong Kong, the Hang Seng moved up 0.7%

Oil prices dropped 13 cents to $50.29 U.S. per barrel.

Gold prices gained $8.70 to $1,283.30 U.S. an ounce.



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