Jan 15, 2020 (Baystreet.ca via COMTEX) —
Canada’s main stock index futures rose on Wednesday ahead of signing of the U.S.-China phase 1 trade deal, supported by gains in gold prices.
The TSX Composite Index gained 59.48 points to close Tuesday at 17,352.90
March futures added 0.2% early Wednesday.
The Canadian dollar nicked 0.01 cents to 76.53 cents U.S. early Wednesday.
CIBC raised the rating on Aphria Inc. to neutral from underperform.
CIBC raised the target price on Fortis Inc. to $57.00 from $55.00
CIBC raised the target price on Air Canada to $59.00 from $54.00
The TSX Venture Exchange nicked higher 2.15 points Tuesday to 574.43
U.S. stock index futures were little changed Wednesday morning as investors awaited the signing of the U.S.-China “Phase One” trade deal.
Futures for the Dow Jones Industrials gave back 10 points, early Wednesday to 28,900.
Futures for the S&P 500 sank 0.75 points at 3,287.50.
Futures for the NASDAQ Composite added 4.75 points, or 0.1%, to 9,067.25.
Bank of America reported quarterly results that beat analyst expectations as bond-trading revenue ripped higher. Goldman Sachs posted revenue for the quarter that surpassed estimates.
So far, about 30 S&P 500 companies have released their quarterly numbers. Of those companies, 82% have posted better-than-expected profits.
On the data calendar, the New York Empire State Fed survey will be released this morning, along with December producer price index figures.
Investors have been eagerly awaiting the signing of the so-called phase one trade agreement as the conflict between the world’s largest economies has dragged on for nearly two years.
However, Treasury Secretary Steven Mnuchin said that tariffs on Chinese goods would remain in place until both countries reach an enforceable “phase-two” agreement. There’s also concern over the details of the phase one agreement.