RTTNews - Toronto stocks could see a flat open on Wednesday morning, with U.S. futures near the unchanged mark. The market fell to its lowest level of the month in the previous session.
Crude oil prices inched up 5 cents to $69.50 as investors awaited the Energy Department's inventory data. On the metal front, gold fell $2.60 to $945.00 and copper dropped slightly to $2.7285.
CAE Inc. (CAE.TO) reported first quarter net earnings of C$27.2 million or C$0.11 per share, compared to C$47.3 million or C$0.19 per share in the prior year quarter. Excluding charges, net earnings for the quarter were C$46.1 million or C$0.18 per share.
Novadaq Technologies (NDQ.TO) announced that its second quarter net loss was US$3.36 million or US$0.14 per share, compared to a loss of US$4.37 million or US$0.18 per share in the year ago quarter.
Penn West Energy Trust (PWT_U.TO) announced second quarter net loss was C$41 million or C$0.10 per unit-basic, compared to a net loss of C$323 million or C$0.86 per unit-basic in the prior year quarter.
Cameco Corp. (CCO.TO) reported second quarter net earnings of C$247 million or C$0.63 per share, compared to C$150 million or C$0.42 per share recorded in the second quarter of 2008.
Pan American Silver (PAA.TO) reported net income for the second quarter of US$10.2 million or US$0.12 per basic share, compared to US$21.36 million or US$0.26 per share in the year-ago quarter.
Bellus Health (BLU.TO) reported second quarter earnings, compared to a loss last year, helped in large part by a gain in extinguishment of debt related to its senior convertible notes.
Data released Wednesday morning showed Canadian international merchandise trade deficit was C$100 million, compared to a revised deficit of C$1.1 billion for May. A deficit of C$500 million was forecast by analysts.
A Commerce Department report showed that the trade deficit widened to $27.0 billion in June from $26.0 billion in May. Economists had been expecting a somewhat more significant increase in the size of the deficit to $28.7 billion.
The big economic news comes this afternoon when the Federal Open Market Committee reveals its interest rate decision. Rates are expected to be left unchanged near zero when the announcement is made at around 2:15 p.m. ET.
Canadian stocks finished notably on Tuesday for a second straight session and posted its lowest close since July. The S&P/TSX Composite Index fell 164.20 points or 1.52% to settle at 10,629.47.
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