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Futures Muted Mid-Week Wednesday



Futures for Canada’s main stock index were subdued on Wednesday, as optimism for a sustained rally following the index nearing a record high in the previous session was contained by lower commodity prices.

The TSX Composite gained 31.15 points to conclude Tuesday at 22,290.62.

June futures squeezed ahead 0.1% Wednesday.

The Canadian dollar docked 0.08 cents to 72.72 cents U.S.

Suncor Energy beat first-quarter profit estimates on Tuesday, boosted by strong demand for refined products and record oil sands production.

ON BAYSTREET

The TSX Venture Exchange strengthened 3.14 points Tuesday to 593.24.

ON WALLSTREET

Stock futures were flat Wednesday after the Dow Jones Industrial Average clinched its longest winning streak since December.

Futures for the 30-stock index sifted off 14 points to 39,013.

Futures for the S&P 500 fell 8.25 points, or 0.1%, at 5,205.50.

Futures for the NASDAQ Composite dumped 33.75 points, or 0.2%, to 18,165.75.

Lyft climbed 5% and Wynn Resorts added 2% on the back of stronger-than-expected quarterly results. Reddit surged more than 14% in the pre-market following its first earnings report as a public company.

Those moves follow a muted and mixed day on Wall Street. The Dow ticked higher by nearly 0.1% and posted its fifth positive session, which marks its longest winning run going back to December. The S&P 500 also inched up by about 0.1%, while the NASDAQ Composite slipped 0.1%.

Earnings remain top of mind for investors heading into Wednesday, with Uber and Shopify slated to post results before the bell. After-the-bell reporters include technology names Airbnb, Instacart and Bumble, in addition to so-called meme stock AMC.

Nearly 85% of S&P 500 corporations have already shared quarterly results this earnings season. Of those, approximately 80% have surpassed Wall Street expectations.

In Japan, the Nikkei 225 collapsed 1.6%, while in Hong Kong, the Hang Seng Index backed off 0.9%.

Oil prices faded 76 cents to $77.62 U.S. a barrel.

Gold prices handed over a dollar to $2,323.20 U.S. an ounce.



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