Futures for Canada’s main index climbed Wednesday, supported by strength in commodities, as investors braced for a flurry of economic data offering clues on potential Federal Reserve interest rate cuts and local economic health.
Market Numbers:
TSX : Up (0.21%) 24,588.58
TSXV: Up (0.46%) 603.53
DOW: Up (0.52%) 42,518.28
NASDAQ: Down (0.23%) 19,044.39
FTSE: Up(0.92%) 8,276.61
In the Headlines
Canadian automakers are urging the government to end electric vehicle sales mandates following a pause in federal EV incentives. “Mandating Canadians to buy zero-emission vehicles without providing them the supports needed to switch to electric is a made-in-Canada policy failure,” said Brian Kingston, head of the CVMA.
Meanwhile, U.S. fourth-quarter 2024 earnings are in focus, with major banks like Citi and JPMorgan set to release results today. Analysts expect strong performance, driven by dealmaking and trading activity, potentially benefiting Canadian financial stocks.
Currencies Update
The Canadian dollar fell $0.04 to $0.6985 and dropped 0.60% to $0.6758 against the Euro. Bitcoin rose 2.62%, now trading at over $141,392.75.
Commodities
- Copper took a slight 0.12% dip to $5.868
- Gold holds steady, up 0.37% to $2,687.40
- WTI Crude Oil is up, trading at $78.43 USD per barrel.
- Natural Gas is trading in the green at $4.09
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