Futures tied to Canada’s resource-heavy main stock index edged down on Wednesday tracking lower oil prices as analysts flagged concerns that China’s stimulus may not be sufficient to immediately boost domestic demand.
The TSX Composite Index gained 57.51 points to conclude Tuesday afternoon at 23,952.22.
December futures declined 0.2% Wednesday.
The Canadian dollar faded 0.07 cents to 74.44 cents U.S.
In corporate news, Canadian investment trust Middlefield Global Real Asset Fund said its unitholders approved its merger with mutual fund Real Estate Split Corp.
ON BAYSTREET
The TSX Venture Exchange added 8.91 points, or 1.5%, Tuesday to 597.11.
ON WALLSTREET
Stock futures slipped on Wednesday as Wall Street looks to extend its September gains.
Futures for the 30-stock index took on four points to 42,505.
Futures for the S&P 500 fell 0.5 points at 5,776.25.
Futures for the NASDAQ inched back 0.75 points to 20,079.25.
The moves come after the S&P 500 gained 0.25% and Dow jumped 0.2% to close at record highs. The NASDAQ Composite gained 0.56% and is less than 4% from its record high.
All three averages are on track for a positive September, though fears of a slowing economy still linger after last week’s rate cut from the Federal Reserve.
Now that the central bank has begun to lower interest rates, the economy is becoming a bigger focus for investors.
Shares of KB Home dropped 6% in extended trading after earnings for the fiscal third quarter came in below expectations.
Upcoming economic data includes new home sales for August, due out on Wednesday morning, and weekly jobless claims on Thursday.
In Japan, the Nikkei 225 dropped 0.2%, while in Hong Kong improved 0.7%
Oil prices added 20 cents to $71.20 U.S. a barrel.
Gold prices climbed $3.10 to $2,649.30
