Markets Muted On Economic Data

(MENAFN- Baystreet)
Futures tied to Canada's main stock index was flat on Wednesday as investors stayed cautious ahead of key economic data that could shape the Bank of Canada's interest rate decision later this month.
The TSX Composite Index gained 51.17 to close Tuesday at 28,615.62.
The Canadian dollar was down 0.08 cents to 72.46 cents U.S.
Futures gained 0.01% Wednesday.
Investors will closely watch Canada's unemployment data due on Friday for potential signals that could guide the central bank's rate-cut path later this month.
ON BAYSTREET
The TSX Venture Exchange hiked 15.63 points, or 1.9%, Tuesday, to 845.20.
ON WALLSTREET
Stock futures were flat to higher higher Wednesday after a federal court decision in an Alphabet antitrust case fueled optimism that the tech giants will be able to weather regulatory threats.
Futures for the Dow Jones Industrials recovered four points to 45,355.
Futures for the S&P 500 regained 29.75 points, or 0.5%, to 6,455.25
Futures for the NASDAQ restocked 157.75 points, or 0.7%, to 23,432.75.
Wednesday's comeback was led mostly by tech, which is why the less-tech-focused Dow futures were little changed. Shares of energy and bank shares were weak in the premarket as concern lingered about a slowing economy and jumping bond yields.
Shares of the Google parent jumped 6% in premarket trading after a federal judge ruled Tuesday that Google can keep its Chrome browser but won't be allowed to strike exclusive search deals and must share its search data. The decision avoided the worst-case outcome for the tech giant, and largely drew from the idea that artificial intelligence has provided more choice to consumers.
The decision also means that Apple can continue to preload Google Search onto its iPhones, which is a lucrative arrangement for Apple. The company, which also is facing its own antitrust case, saw its stock rise more than 3%.
Shares of Macy's spiked more than 14% in premarket trading Wednesday after the retailer posted better-than-expected second-quarter results and raised its full-year outlook.
September is a typically weak month for U.S. equity performance. One expert said that September has been the worst month for the S&P 500 since 1950, with the average return of -0.7%.
In Japan, the Nikkei 225 sank 0.9% Wednesday, while in Hong Kong, the Hang Seng decreased 0.6%.
Oil prices were off $1.32 to $64.27 U.S. a barrel.
Gold prices hiked $22.20 at $3,614.40 U.S. per ounce.

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