Futures tracking Canada’s resources-heavy stock index fell on Wednesday, tracking weakness in commodity prices, as the dollar steadied ahead of keenly awaited U.S. inflation data and the outcome of mid-term elections.
The TSX Composite gathered 114.4 points to end Tuesday at 19,660.31.
December futures slipped 0.2% on Wednesday.
The Canadian dollar let go of 0.18 cents to 74.36 cents U.S.
On the earnings front, telecom giant Rogers Communications reported an increase in quarterly revenue, benefiting from higher roaming charges due to a rebound in international travel and customers opting for pricier plans.
Canopy Growth reported a smaller second-quarter core loss, helped by higher sales and cost-cutting measures.
The TSX Venture Exchange strode forward 8.85 points, or 1.5%, Tuesday to 602.38
Stock futures were slightly lower — following recent market gains — as results of the midterm elections provided no clear answers about who would control Congress yet.
Futures for the Dow Jones Industrials faded 95 points, or 0.3%, to 33,080.
Futures for the S&P 500 dipped six points, or 0.2%, to 3,829.25.
Futures for the NASDAQ Composite gave back nine points, or 0.1%, to 11,085.25.
Stocks are coming off three straight days of gains into the election, where Wall Street was expecting Republicans to gain ground and block any future tax and spending plans. The Dow climbed 333 points on Tuesday for its third-straight session of gaining more than 1%.
But control of Congress was not clear. Media outlets were not yet projecting control of the House of Representatives with one estimate suggesting Republicans could win 220 seats, which would be a narrow majority.
In one of the key races that could determine Senate control, Democrat John Fetterman defeated Republican Mehmet Oz for the pivotal Senate seat in Pennsylvania, according to one projection.
Oz had the backing of former President Donald Trump, whose endorsed candidates saw spotty levels of success across the country. Critical Senate races in Georgia and Nevada were unresolved.
Shares of Facebook parent Meta Platforms rose 3% premarket after the social media giant announced it will be laying off more than 11,000 workers. Founder and CEO Mark Zuckerberg said he was too optimistic about growth and now needs to streamline the company.
One stock that weighed on futures was Disney, which fell more than 8% in early trading after the entertainment giant missed estimates on the top and bottom lines for its fiscal fourth quarter.
In Japan, the Nikkei 225 fell 0.6%, while in Hong Kong, the Hang Seng Index lost 1.2% Wednesday.
Oil prices decreased $1.56 to $87.35 U.S. a barrel.
Gold prices dulled $4.80 to $1,711.20 U.S. an ounce.