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World Rally Fades, TSX Futures Down

Sep 13, 2017 (Baystreet.ca via COMTEX) --

Markets in Toronto were set for a lower opening Wednesday after posting their biggest advance in three months in the previous session as a global equity rally showed signs of fading, with disappointment over the timing of Apple's iPhone release.

The S&P/TSX Composite Index triumphed 103.11 points to conclude Tuesday at 15,143.11

September futures retreated 0.2% on Wednesday morning.

The Canadian dollar prospered 0.25 cents to 82.36 cents U.S. Wednesday morning.

Greek police fired tear gas at dozens of Eldorado Gold workers rallying outside the energy ministry in Athens to protest against potential job losses after the Canadian company threatened to suspend investment at its Greek mines.

Desjardins is considering backing out of its $145-million commitment to Kinder Morgan's Trans Mountain pipeline expansion

National Bank of Canada cut the target price on Canadian National Railway to $105.00 from $108.00

Desjardins raised the price target on Cascades Inc. to $18.00 from $16.00

ON BAYSTREET

The TSX Venture Exchange added 5.61 points Tuesday to 775.20

ON WALLSTREET

U.S. stock index futures pointed to a slightly weaker open on Wednesday after Wall Street closed at record highs in the previous session.

Futures for the Dow Jones Industrials slid 14 points, or 0.1%, to 22,076. S&P 500 futures dropped three points, or 0.1%, to 2,491.25, while futures on the NASDAQ Composite index faded 11.25 points, or 0.2%, to 5,993.25

Elsewhere in individual stock news, Apple had its latest consumer products event on Tuesday, where investors were waiting with bated breath over what the company would launch next.

At the event, the tech giant revealed its latest iPhone called the iPhone X, which has prices starting from $999 and will ship from November.

The company also put on display its new iPhone 8 and 8 Plus, a new Apple Watch and their Apple TV 4K.

When it comes to data, mortgage applications jumped nearly 10% last week amid the lowest rates in almost a year. Producer Price Index (PPI) data is also due out this morning. The Treasury budget release will then follow, due out at 2 p.m. ET.

Overseas, markets in Europe trading under pressure approaching noon local time, while Japan's Nikkei 225 climbed 0.5% and the CSI 300 in Shanghai poked up 0.1%.

Oil prices hiked 41 cents to $48.64 U.S. per barrel.

Gold prices gained $5.30 at $1,338.00 U.S. an ounce.

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