(Reuters) – Futures for Canada’s resource-heavy main stock index rose on Wednesday as commodity prices climbed, while investors awaited U.S. economic data that could boost the chances of more big interest rate hikes from the world’s largest economy.
December futures on the S&P/TSX index were up 0.6% at 07:06 a.m. ET, setting the index on course to snap a four-day losing streak.
The Toronto Stock Exchange’s S&P/TSX composite index ended nearly 2% lower on Tuesday, hitting a 19-month low as worries about a global recession unnerved investors returning from a long weekend. [.TO]
Crude prices were supported by oil supply concerns following last week’s OPEC+ production targets, while a weaker dollar made gold more lustrous to buyers. [O/R] [GOL/]
Investors were focused on minutes from the Federal Open Market Committee meeting in September and producer prices data for clues on the U.S. Federal Reserve’s rate hike path. [.N]
Cameco Corp and Brookfield Renewable Partners said after markets closed on Tuesday that they would acquire nuclear power plant equipment maker Westinghouse Electric in a $7.9 billion deal including debt, as an energy crisis in Europe renewed interest in nuclear power.
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($1= C$1.3)
(Reporting by Johann M Cherian in Bengaluru; Editing by Devika Syamnath)
