A look at Wednesday morning’s market action
Wall Street futures slid early Wednesday in the wake of comments from Federal Reserve chair Jerome Powell a day earlier. Major European markets were positive.Futures linked to the Dow, S&P and Nasdaq all sat below break even in the early premarket period. On Tuesday, all three saw a volatile session before ending in positive territory. The Nasdaq closed up 1.9 per cent while the S&P 500 added 1.29 per cent and the Dow gained 0.78 per cent.
In Canada, meanwhile, Bank of Canada Governor Tiff Macklem reinforced the idea that the central bank is entering a new phase in its fight against inflation, saying heLater Wednesday, the Bank of Canada will release its summary of deliberations from its Jan. 25 policy meeting when it raised Overseas, the pan-European STOXX 600 was up 0.79 per cent in morning trading. Britain’s FTSE 100 gained 0.77 per cent. Germany’s DAX and France’s CAC 40 advanced 0.80 per cent and 0.55 per cent, respectively.Commodities
Both benchmarks were up more than 1 per cent early Wednesday morning marking a third straight day of gains. Attention now turns to more official U.S. government inventory numbers with the release of fresh figures later this morning from the U.S. Energy Information Administration.
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