Futures Up Ahead of Fed Decision

Futures linked to Canada's main stock index rose on Wednesday, recovering from the previous session's losses, as investors awaited a crucial interest rate decision by the U.S. Federal Reserve, due later in the day.

The TSX Composite Index was negative 27.22 points to close out Tuesday at 26,541.39

June futures were up 0.3% Wednesday.

The Canadian dollar gained 0.11 cents to 73.19 cents U.S.

Meanwhile, the Group of Seven nations meeting ended with the members struggling to find unity over the conflict in Ukraine while Canada promised more aid to the country.

Earlier this week, Prime Minister Mark Carney said he had agreed with U.S. President Donald Trump that their two nations should try to wrap up a new economic and security deal within 30 days.

Carney also invited non-G7 members Mexico, India, Australia, South Africa, South Korea and Brazil, as he tries to shore up alliances elsewhere and diversify Canada's exports away from the United States.

ON BAYSTREET

The TSX Venture Exchange dipped 2.54 points Tuesday to 722.84.

ON WALLSTREET

U.S. stock futures were relatively unchanged Wednesday as traders monitor the latest developments in the Middle East and brace for the Federal Reserve’s latest rate policy decision.

Futures for the Dow Jones Industrials let go of 48 points, or 0.1%, to 42,508.

Futures for the S&P 500 index dipped 3.75 points, or 0.1%, to 6,034.75

Futures for the NASDAQ were unchanged at 21,956.

Meta Platforms is reportedly poaching staff from OpenAI with lucrative signing bonuses that have totaled as much as $100 million U.S.

Stocks are coming off a downbeat session Tuesday as the Israel-Iran conflict mounted.

On Tuesday, President Donald Trump took to his Truth Social platform to threaten Iran’s leader, saying that “our patience is wearing thin” and calling for “UNCONDITIONAL SURRENDER!” Current and former administration officials also told NBC News that Trump is weighing options on Iran, including whether to launch a military strike.

The Federal Reserve’s rate decision is due at 2 p.m. ET. The U.S. central bank is widely expected to hold rates steady, but investors will be keeping a close eye on Fed Chair Jerome Powell’s post-meeting comments.

In Japan, the Nikkei 225 index vaulted 0.9% Wednesday, while in Hong Kong, the Hang Seng dropped 1.1%

Oil prices tacked on 13 cents to $74.97 U.S. a barrel.

Gold prices faltered $6.80 to $3,400.10 U.S. an ounce.