TSX Futures Move Upward After Rally Stalled

(MENAFN- Baystreet)
Futures linked to Canada's main stock index edged higher on Wednesday, after the index fell in the previous session despite posting an intraday record high.
The TSX Composite Index 143.35 points to close Tuesday at 29,815.63.
The Canadian dollar slid 0.17 cents to 72.08 cents U.S.
Futures chugged along 0.2% Wednesday.
Prime Minister Mark Carney said he had "constructive" trade talks with Chinese Premier Li Qiang with both countries seeking to discuss trade conflicts.
Canada has imposed tariffs on imports of China-made electric vehicles and steel and aluminum since last year, with Beijing retaliating with levies on Canadian canola imports.
Separately, Carney said trade negotiations with the U.S. were ongoing, with remaining issues to move to a forthcoming review of the United States-Mexico-Canada trade agreement.
Meanwhile, Bank of Canada Governor Tiff Macklem expressed concern on Tuesday about U.S. President Donald Trump's pressure tactics on the U.S. Federal Reserve.
In company news, Manulife Financial Corp's wealth and asset management arm said it had signed an agreement to buy U.K. asset manager Schroders' business in Indonesia.
The Trump administration is seeking an equity stake of as much as 10% in Lithium Americas, two people told Reuters. American-listed shares of the company soared as much as 60% in premarket trading.
Bank of Montreal launched a process to sell some of its U.S. branches with about $6 billion in deposits, the Wall Street Journal reported on Tuesday.
ON BAYSTREET
The TSX Venture Exchange backpedaled 9.48 points, or 1%, Tuesday to 912.85.
ON WALLSTREET
Stock futures ticked higher Wednesday after the S&P 500 pulled back from record levels and snapped a three-day winning streak on worries about the AI trade that has led the bull market.
Futures for the Dow Jones Industrials rose 22 points, or 0.1%, to 46,659.
Futures for the much broader index advanced 10.75 points, or 0.2%, at 6,725.75
Futures for the NASDAQ jumped 75.75 points, or 0.7%, to 24,903.
Shares of Micron Technology gained on the back of better-than-expected earnings and a strong forecast. The artificial intelligence boom fueled a 46% increase in revenue for Micron.
The leading memory chipmaker's results follow a trading session that was dominated by heightened fears about the circular nature of the AI industry, sparked by a Nvidia-OpenAI partnership.
Shares of leading AI players Nvidia and Oracle tumbled on Tuesday on worries the advance was running out of steam with the outlook already priced into the shares.
Traders are cautious before jobless claims data Thursday and PCE inflation data Friday. They're also watching troubling developments regarding a government shutdown.
President Donald Trump cancelled a meeting with Senate Minority Leader Chuck Schumer and House Minority Leader Hakeem Jeffries that could have possibly averted the shutdown before a Sept. 30 deadline.
In Japan, the Nikkei 225 regrouped 0.3%, after a holiday on Tuesday, while in Hong Kong, the Hang Seng pointed upward 1.4%.
Even so, Super Typhoon Ragasa brought hurricane-force winds to high grounds and southern areas in Hong Kong. Conditions remain severe, with heavy showers and thunderstorms expected.
Oil prices took on 68 cents to $64.09 U.S. a barrel.
Gold prices docked $20.00 to $3,795.70 U.S. per ounce.

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