Markets

TSX May Start Higher with Steady Oil Prices

Canada's benchmark index looked set to open higher on Wednesday, helped by rising copper and silver and by steady oil prices .

Stock futures for the December quarter on the S&P TSX index were up 0.1% recently.

Action Economics said NYMEX crude has eased back from trend highs, currently idling in the lower US$75 area. The recent rally took a breather following API inventory data after the close on Tuesday, which revealed a 900,000 barrel build in US stockpiles, in line with expectations. Focus now shifts to the 10:30 am EDT release of weekly EIA inventory figures.

The TSX lost 87 points on Tuesday, led lower by energy and financial stocks.

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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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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