Futures for Canada’s main stock index were little changed on Wednesday, as investors stayed away from placing big bets ahead of the U.S. Federal Reserve’s rate decision due later in the day.
The TSX Composite advanced 23.4 points to close Tuesday at 21,860.58.
March futures moved up 0.1% Wednesday.
The Canadian dollar skidded 0.09 cents 73.58 cents U.S.
Adentra received a hike in price target from CIBC, while Kelt Exploration got a rating upgrade from TD Securities.
The National Bank of Canada raised the price target on Gildan Activewear after the Canadian clothing maker’s board decided to put the company up for sale and is in talks with multiple bidders.
ON BAYSTREET
The TSX Venture Exchange skidded 6.04 points, or 1.1%, Tuesday to 543.28.
ON WALLSTREET
S&P 500 futures were flat on Wednesday following a winning day for the major averages, as investors awaited the latest Federal Reserve policy decision.
Futures for the Dow Jones Industrials faded 43 points, or 0.1%, to 39,496.
Futures for the S&P 500 docked 0.5 points to 5,241.25.
Futures for the NASDAQ Composite gained 36 points, or 0.2%, to 18,306.
Intel rose more than 3% before the bell on news that the White House plans to award the semiconductor company $8.5 billion in CHIPS Act grants. Chipotle Mexican Grill popped 5% after announcing a stock split.
Investors eagerly await the Federal Reserve’s latest rate decision, with the central bank broadly anticipated to keep interest rates unchanged at the conclusion of its two-day policy meeting. However, investors will scan the dot plot for insight into the number and timing of rate cuts, with many anticipating the central bank will start lowering rates in June.
In Hong Kong, the Hang Seng index nicked ahead 0.1%, while markets in Japan were closed for a public holiday.
Oil prices dumped $1.35 to $82.12 U.S. a barrel.
Gold prices slid $2.70 to $2,157 U.S. an ounce.
