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Stocks Fade Amid U.S. Inflation Reports
The TSX Composite Index surged 219.25 points, or nearly 1%, to conclude Tuesday at 22,618.18.
The Canadian dollar eked ahead 0.03 cents to 72.97 cents U.S.
September futures on the S&P/TSX index were down 0.2% Wednesday.
In corporate news, bitcoin miner Riot Platforms said it had increased its stake in Canadian rival Bitfarms to 18.9%.
ON BAYSTREET
The TSX Venture Exchange hiked 5.01 points Tuesday to 545.66.
ON WALLSTREET
Stock futures were marginally higher on Wednesday as Wall Street looks to keep a strong start to the week going with a key inflation report on deck.
Futures for the Dow Jones Industrials poked up six points to 39,895.
Futures for the S&P 500 index slid 2.75 points, or 0.1%, at 5,461.75
Futures for the NASDAQ gained 11.75 points, or 0.1%, to 19,116.
The July consumer price index reading is set for release at 8:30 a.m. ET. Economists polled by Dow Jones expect a 0.2% increase from the prior month and a 3% gain year over year.
The report comes a day after lighter-than-expected wholesale inflation figures gave stocks a boost. The Dow rose more than 400 points, or about 1%. The S&P 500 climbed 1.7%, while the NASDAQ Composite gained 2.4%.
All three major averages are now above their Aug. 2 closing level, which was the session before the global market sell-off on Aug. 5 that appeared to be
In Japan, the Nikkei 225 soared 0.6%, Hong Kong, the Hang Seng index ditched 0.4%.
Oil prices shed 23 cents to $78.12 U.S. a barrel.
Gold prices jumped $5.80to $2,501.70
