Futures Point North



Futures for Canada’s main stock index inched higher on Wednesday, tracking an uptick in precious metals prices, though weaker crude oil limited gains.

The TSX Composite sank 29.76 points to close Tuesday at 21,912.52.

Futures moved upward 0.2% Wednesday.

The Canadian dollar declined 0.07 cents 73.57 cents U.S.

BMO upgraded its rating on Lundin Mining to “outperform” from “market perform”, while TD Securities lifted its recommendation on Vermilion Energy to “buy” from “hold”.

Canacol Energy said it would discontinue dividend payout as the oil producer focuses on addressing concerns regarding debt obligations and liquidity.

ON BAYSTREET

The TSX Venture Exchange gained back 1.57 points to 548.47.

ON WALLSTREET

Stock futures are up Wednesday following a losing session on Wall Street that pulled the indexes further from record levels.

Futures for the Dow Jones Industrials ballooned 176 points, or 0.4%, to 39,856.

Futures for the S&P 500 jumped 22.5 points, or 0.4%, to 5,287.75.

Futures for the NASDAQ Composite vaulted 85 points, or 0.5%, to 18,534.

Merck shares were up more than 4% in the premarket after the Food and Drug Administration approved on Tuesday the use of Winrevair, a drug aimed at treating adults with pulmonary arterial hypertension.

Those moves following a negative day for the three major indexes. The Dow slipped nearly 0.1%, while the NASDAQ fell 0.4% as technology stocks struggled. With a slide of 0.3%, the S&P 500 saw its third down trading day in a row.

As of Tuesday’s close, the S&P 500 has added 2.1% in the month and 9.1% in the quarter. The Nasdaq has climbed 1.4% in March and 8.7% over the three-month period, while the Dow has added 0.7% and 4.2% in the respective periods.

This would mark the best first-quarter gain for the S&P 500 and Dow Jones since 2019 and 2021, respectively, when the indexes rose 13.1% and 7.4%. All three major averages are on pace to notch their fifth straight winning month and second straight winning quarter.

In Japan, the Nikkei 225 hiked 0.9%, while in Hong Kong, the Hang Seng index lost 1.4%,

Oil prices skidded 41 cents to $81.21 U.S. a barrel.

Gold prices flew $18.30 to $2,217.50 U.S. an ounce.



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