Feb 19, 2025 (Baystreet.ca via COMTEX) --
Toll Brothers, Loblaw in Focus
Futures linked to Canada's primary stock index fell on Wednesday as investors parsed U.S. President Donald Trump's threat of tariffs on automobiles, ahead of the release of minutes from the Federal Reserve's January meeting.
The TSX Composite Index jumped 165.61 points to conclude Tuesday at 25,648.84.
Futures slumped 0.4% early Wednesday.
The Canadian dollar sank 0.11 cents to 70.36 cents U.S. early Wednesday.
The minutes from the Fed's policy meeting are set for release at 2 p.m. ET. The central bank had opted to leave interest rates unchanged at the meeting, with Chair Jerome Powell indicating that they would only cut the rates if inflation and employment data warranted such action.
On Tuesday, Trump said he intends to impose auto tariffs "in the neighborhood of 25%," along with similar duties on semiconductor and pharmaceutical imports.
In corporate news, retailer Loblaw on Wednesday said it plans to invest $2.2 billion to renovate existing stores, open new ones and create about 8,000 jobs this year.
ON BAYSTREET
The TSX Venture Exchange edged up 1.64 points Tuesday to 641.90.
ON WALLSTREET
Stock futures were little changed early Wednesday after a record-setting session for Wall Street.
Futures for the Dow Jones Industrials stepped back 60 points, or 0.1%, to 44,583
Futures for the S&P 500 dipped 3.5 points or 0.1%, to 6,143.75.
Futures for the tech-heavy NASDAQ improved 13.25 points, or 0.1%, to 22,246.
The S&P 500 on Tuesday climbed to an all-time high, even as concerns around sticky inflation and President Donald Trump's trade policies persist.
Toll Brothers shares fell more than 5% in the premarket after the homebuilder reported fiscal first-quarter results that missed the mark.
The company earned $1.75 per share on revenue of $1.84 billion. Analysts polled by LSEG expected a profit of $2.04 per shar eon revenue of $1.91 billion.
On the data front, the January housing starts report is due at 8:30 a.m. ET. Investors will also look through the minutes from the latest Federal Reserve meeting, set for release at 2 p.m. ET. The Fed kept rates unchanged but expressed concern over the U.S. inflation outlook.
In Japan, the Nikkei 225 fell 0.3% Wednesday, while in Hong Kong, the Hang Seng retreated 0.1%.
Oil prices climbed 65 cents to $72.50 U.S. a barrel.
Gold prices advanced $3.50 to $2,952.60 U.S. an ounce.
COMTEX_462925013/2559/2025-02-19T07:57:51
