Canada’s main stock index fell in the red on Wednesday, amid caution in broader markets, after the main index slumped in the previous session on fresh American bank worries. Markets were split with the mining sector leading the gainers and industrials leading the laggards. Rogers (TSX:RCI) stock jumped 2.6 per cent on news it was partnering with SpaceX to boost remote connectivity. Teck Resources (TSX:TECK) gained more than 4 per cent after declaring that it will not go ahead with a key shareholder vote on its plan to separate its metals and steelmaking coal businesses into two companies.
US stock futures were also down after Microsoft (NASDAQ:MST) earnings came in better than expected. Traders are assessing durable goods and mortgage purchase data, which comes ahead of the latest GDP update coming Thursday. This will be followed by the major Personal Consumption Expenditures Price Index, which is the Federal Reserve’s favoured inflation gauge, coming on Friday.
The Canadian dollar traded for 73.28 cents US, compared to 73.35 cents US on Tuesday.
US crude futures traded $2.79 lower at $74.28 a barrel, and the Brent contract lost $3.12 to $77.65 a barrel.
The price of gold was down US$11.33 to US$1,989.04.
In world markets, the Nikkei was down 203.60 points to 28,416.47, the Hang Seng was up 139.39 points to 19,757.27, the FTSE was down 38.49 points to 7,852.64, and the DAX was down 76.40 points to 15,795.73.
The materials provided in this article is for information only and should not be treated as investment advice. For full disclaimer information, please click here.