Futures Falter in Wednesday Trading By Baystreet.ca

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Futures Falter in Wednesday Trading By Baystreet.ca

Baystreet.ca – The S&P/TSX Composite Index retreated 108.33 points to conclude Tuesday at 22,265.05.

The sank 0.14 cents to 73.13 cents U.S. June futures were down 0.6% Wednesday. In corporate news, National Bank of Canada (TSX:) reported a rise in second-quarter net profit, helped by strong performance in its wealth management and financial markets units.

BMO (TSX:) Financial Group reported a fall in Q2 adjusted profit as weakness in its U.S. business hurt the Canadian lender.

ON BAYSTREET

The Venture Exchange gained 4.62 points to end Tuesday’s session at 611.03.

ON WALLSTREET

Stock futures slid on Wednesday, as traders kept an eye on Treasury yields with inflation concerns simmering.

Futures for the sank 249 points, or 0.7%, to 38.695. Futures for the flopped 34 points, or 0.6%, at 5,290.75.

Futures for the slipped 129 points, or 0.7%, to 18,811.50. Nvidia (NASDAQ:) shares rose slightly in premarket trading, extending gains since its earnings last week. Over the three trading days after the report was released, Nvidia surged roughly 20%. It was one of few bright spots in megacap tech before the bell, with Tesla (NASDAQ:), Alphabet (NASDAQ:) and Microsoft (NASDAQ:) and Meta (NASDAQ:) all in the red.

Outside of tech, American Airlines (NASDAQ:) tumbled more than 8% in the premarket after slashing its sales outlook for the second quarter. Southwest Airlines (NYSE:) dipped about 2.5% in sympathy. On the other hand, Dick’s Sporting Goods jumped more than 7% on the back of strong earnings and raised guidance.

The major averages are on track to close the month with impressive gains, partly propped up by enthusiasm about a better-than-expected quarterly earnings season. The S&P 500 is up 5.4% this month, while the Dow has advanced 2.7%. The NASDAQ has climbed 8.7% in May.In Japan, the lost 0.8%, while in Hong Kong, the dumped 1.8%. Oil prices hiked 66 cents to $80.49 U.S. a barrel. prices dulled $13.30 to $2,349.30 U.S. an ounce.

This content was originally published on Baystreet.ca

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