Futures Flat Ahead of Inflation Data
Futures linked to Canada's benchmark index were flat on Wednesday as concerns about tariff-induced inflation weighed on the markets ahead of U.S. producer prices data due later in the day.
The TSX Composite Index took a header of 144.71 points Tuesday from Monday’s all-time high to 27,054.14
September futures were unchanged Wednesday.
The Canadian dollar sank 0.05 cents to 72.85 cents U.S.
In company news, Aura Minerals said on Tuesday it plans to raise about $196.4 million from its U.S. initial public offering.
Trade tensions remained in focus after U.S. President Donald Trump announced a 19% tariff on Indonesian goods as part of a new deal, one of several agreements ahead of an August 1 deadline for broader tariff hikes.
On the economic front, the Canadian Real Estate Association reported the number of home sales recorded over Canadian MLS® Systems rose 2.8% on a month-over-month basis in June 2025, building on the 3.5% gain recorded in May.
Canada Mortgage and Housing Corporation reported housing starts numbered 283,700 in June, up from 282,700 in May.
ON BAYSTREET
The TSX Venture Exchange slid 3.77 points Tuesday to 782.77.
ON WALLSTREET
Stock futures pointed to a mixed open on Wednesday, as investors weighed earnings releases from big banks and awaited the latest wholesale inflation report.
Futures for the Dow Jones Industrials increased 70 points, or 0.2%, to 44,317.
Futures for the S&P 500 index sagged 4.5 points, or 0.1%, to 6,279.50.
Futures for the NASDAQ swooned 53.75 points, or 0.2%, to 23,003.
Big bank earnings releases continued for a second day. Bank of America reported better-than-expected earnings for the second quarter, sending shares up more than 1%. To be sure, Bank of America’s net interest income missed analyst expectations. Goldman Sachs shares jumped 1.5% after topping second-quarter expectations on the back of better-than-expected equities trading.
These results come a day after JPMorgan Chase, Wells Fargo and Citigroup each posted quarterly figures that topped analysts’ expectations for earnings and revenue.
On top of that, June’s producer price index report rolls out at 8:30 a.m. ET. Economists polled by Dow Jones expect a 0.2% increase for PPI.
That report will follow Tuesday’s data which showed inflation moving further away from the Federal Reserve’s 2% target. The report weighed on markets during the previous session.
In Japan, the Nikkei 225 index gave up 14 points Wednesday, while in Hong Kong, the Hang Seng handed over 0.3%
Oil prices dipped 59 cents to $65.93 U.S. a barrel.
Gold prices surged $6.60 to $3,343.30 U.S. an ounce.
