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Futures and Commodity Market News

Futures Mildly Lower as Uncertainty Grows Over Oil Prices

Feb 14, 2018 (Baystreet.ca via COMTEX) --

Futures pointed to a lower opening for Canada's main stock index on Wednesday, as oil prices fell pressured by rising U.S. crude production.

The S&P/TSX Composite Index backpedaled 25.41 points to close Tuesday at 15,216.47

The Canadian dollar nicked up 0.07 cents to 79.5 cents U.S. Wednesday morning.

March futures slid 0.2% Wednesday.

Teck Resources reported an in-line fourth-quarter adjusted profit as lower operating costs helped offset a fall in sales of metallurgical coal.

Berenberg cut the price target on First Quantum Minerals to $18.00 from $19.00

Canaccord Genuity cut the price target on Inter Pipeline to $28.00 from $30.00

Canaccord Genuity cut the price target on Keyera Corp. to $43.00 from $46.00

ON BAYSTREET

The TSX Venture Exchange docked 3.88 points Tuesday to 821.18

ON WALLSTREET

U.S. stock index futures looked headed for a positive open on Wednesday, building on solid gains logged in the previous trading session.

Futures for the Dow Jones Industrials gained 129 points, or 0.5%, to 24,755

S&P 500 futures hiked 10.75 points, or 0.4%, to 2,672.5, while futures on the NASDAQ Composite took on 30.5 points, or 0.5%, at 6,591

Chemours Company, Equinix Inc., Groupon Inc. are among the companies reporting earnings Wednesday.

The government's Consumer Price Index (CPI) data are scheduled to be released at 8:30 a.m. ET, and investors will be awaiting the release to see what this means for markets and the economy going forward.

Aside from CPI data, mortgage applications are due to be released at 7 a.m. ET, followed by retail sales at 8:30 a.m. ET and business inventories at 10 a.m. ET.

Overseas, in Japan, the Nikkei settled 0.4%, while in Hong Kong, the Hang Seng Index sprang forward 2.3%.

Oil prices faded 56 cents to $58.63 U.S. per barrel.

Gold prices Took on $2.90 to $1,321.60 U.S. an ounce.

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