Markets

Canadian Market Might Open Higher

(RTTNews) - Canadian shares might open positive on Wednesday.

The U.S. FOMC minutes might have an impact on investors' sentiments on Wednesday.

Referring to the continuing energy crisis in Europe, Russian President Vladimir Putin said Russia will not use energy as a weapon against Europe. He further noted that even during the hardest parts of the Cold War Russia regularly has fulfilled its contractual obligations and supplies gas to Europe.

The United States today said it will reopen its land borders to fully vaccinated travelers of Canada and Mexico from November. Canada opened has opened to U.S. travelers on August 9 itself.

Canadian dollars appreciated more than one percent as the crude oil climbed due to the European oil crisis. Crude oil futures are trading slightly lower. Gold and Silver Futures is gaining.

The S&P/TSX Composite and S&P/TSX 60 futures are gaining.

The Atlanta Fed Business Inflation Expectations for October will be issued at 10.00 am ET. In the prior month, the Expectations were up 3.1 percent. The U.S. Federal Open Market Committee or FOMC minutes is scheduled at 2.00 pm ET.

The U.S. Treasury Department's monthly account for September is expected at 2.00 pm ET. The consensus is for a deficit of $130.1 billion, while it was down $170.6 billion in the prior month.

Digital strategy and technologies company Alithya Group (ALYA.TO), said it received a three-year contract to boost a major Quebec ministry's digital transformation agenda. The contract is expected to commence throughout October 2021 and generate C$6.6 million over its three-year term, the Montreal-based company said in a statement.

The Canadian stock market ended modestly higher on Tuesday after a somewhat lackluster session as investors stayed a bit reluctant to make significant moves due to a lack of triggers.

The benchmark S&P/TSX Composite Index ended with a loss of 20.81 points or 0.1% at 20,437.12, after scaling a low of 20,375.76 and a high of 20,478.51 intraday.

Asian stocks ended mixed on Wednesday. Chinese shares fluctuated before closing higher. The benchmark Shanghai Composite index rose 14.83 points, or 0.42 percent, to 3,561.76. Trading in Hong Kong was suspended as a typhoon passed south of the city.

European shares are trading mostly higher. Among the major indexes in the region, the CAC 40 Index of France is progressing 14.13 points or 0.22 percent. The German DAX is adding 114.26 points or 0.75 percent, the U.K. FTSE 100 Index is sliding 5.33 points or 0.07 percent.

The Swiss Market Index is adding 22.90 points or 0.19 percent. The Euro Stoxx 50 Index, which is a compilation of 50 blue chip stocks across the euro area, is up 0.56 percent.

Gold futures are up $6.25 or 0.33% at $1,765.25 an ounce, while Silver futures are gaining $0.204 or 0.93% at $22.720 an ounce.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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