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Stocks Look to Recover from Rough Few Days

Baystreet - Wed Sep 27, 7:25AM CDT
Futures for Canada's resource-heavy main stock index rose on Wednesday as oil prices continued their march upward, while investors are looking toward U.S. economic data for more clarity on the Fed's interest rate path.

The TSX Composite Index slumped 244.46 points, or 1.2%, to end Tuesday at 19,556.15.

September futures were up 0.3% Wednesday.

The Canadian dollar handed back 0.06 cents to 73.90 cents U.S.

In corporate news, E-commerce giant Shopify is investing in wholesale platform Faire, but the deal value and stake details remain undisclosed.


The TSX Venture Exchange toppled 13.12 points, or 2.3%, by the end Tuesday to 557.05.


U.S. stock futures traded higher Wednesday, as Wall Street tried to recover from steep losses seen in the previous session, boosted by a dip in Treasury yields.

Futures for the Dow Jones Industrials gained 96 points, or 0.3%, to 33,971.

Futures for the S&P 500 picked up 14.75 points, or 0.4%, at 4,329.50.

Futures for the NASDAQ galloped 47 points, or 0.3%, to 14,762.

On Tuesday, the S&P 500 fell below the key 4,300 for the first time since June. The Dow also posted its biggest one-day loss since March, dropping more than 300 points to close below its 200-day moving average for the first time since May.

These losses came after new home sales and consumer confidence data missed economists’ estimates.

Economic reports on deck Wednesday include August’s durable goods orders. Economists expect they declined 0.5%, according to Dow Jones.

In Japan, the Nikkei 225 nicked up 0.2% Wednesday, while in Hong Kong, the Hang Seng hiked 0.8%

Oil prices added $1.67 to $92.06 U.S. a barrel.

Gold prices fell $9.90 to $1,909.90.

Provided Content: Content provided by Baystreet. The Globe and Mail was not involved, and material was not reviewed prior to publication.