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Futures Subside Wednesday
The TSX Composite Index dumped 89.01 points to conclude Tuesday at 23,259.96.
The Canadian dollar skidded 0.07 cents to 74.30 cents U.S.
September futures shed 0.1% Wednesday.
After mixed quarterly results from major Canadian lenders on Tuesday, investors assessed earnings from the Royal Bank of Canada and the National Bank of Canada, both of which reported higher third-quarter profits on Wednesday.
In corporate news, Canadian energy firm Pieridae Energy Limited announced equity rights offering of $30 million, along with a standby offering of $25 million.
ON BAYSTREET
The TSX Venture Exchange fell 4.49 points Tuesday to 573.03.
ON WALLSTREET
S&P 500 futures were marginally higher Wednesday as investors waited for Nvidia’s quarterly earnings announcement.
Futures for the Dow Jones Industrials parted with five points to 41,351.
Futures for the broader index dipped 0.25 points at 5,644.50.
Futures for the NASDAQ subtracted 3.5 points to 19,650.25.
Focal points for investors include the delivery schedule for Nvidia’s Blackwell chips and an update on the demand for AI.
One fund manager noted that other AI stocks are trading around 10% below their all-time highs. Nvidia’s current valuation is not expensive relative to the five-year average.
Nordstrom advanced 7% after the retailer posted adjusted earnings in the second quarter that surpassed expectations. Semiconductor developer Ambarella jumped nearly 20% on upbeat revenue guidance in the third quarter. PVH, owner of Calvin Klein, slumped more than 7% on a disappointing outlook for the current quarter.
In Japan, the Nikkei 225 gained 0.2% Wednesday, while in Hong Kong, the Hang Seng index capsized 1%.
Oil prices slid $1.50 to $74.03 U.S. a barrel.
Gold prices dropped 14 dollars to $2,538.90.
