Why did Canadian stock futures rise on Wednesday?

Canadian stock futures rose on Wednesday due to a recovery in gold and oil prices, which had fallen in the prior session.

What is the market sentiment regarding the U.S. Federal Reserve?

Investors are awaiting the U.S. Federal Reserve's January meeting minutes for indications on monetary policy direction this year.

How did Canadian home sales perform in January?

Canadian home sales declined by 5.8% in January, primarily influenced by a severe winter storm.

Home / Business and Economy / Commodities Surge as Fed Minutes Loom

Commodities Surge as Fed Minutes Loom

18 Feb

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Summary

Futures for Canada's main stock index rose on Wednesday.
Spot gold and silver prices climbed ahead of Fed minutes.
Canadian home sales dropped 5.8% in January due to winter storm.

Futures for Canada's main stock index indicated a rise on Wednesday, bolstered by a recovery in gold and oil prices. This follows a dip on Tuesday, where declines in commodity prices weighed on mining and energy sectors. Investors are keenly awaiting the U.S. Federal Reserve's January meeting minutes for insights into future monetary policy.

Precious metals saw gains, with spot gold increasing by 0.7% and silver by 2.9%, while copper prices also experienced a rebound. Oil prices, after a significant slump the previous day, showed a 0.5% increase for Brent crude and West Texas Intermediate.

Domestically, Canadian home sales fell by 5.8% in January, largely due to a severe winter storm. In corporate news, iA Financial reported fourth-quarter profits below estimates, while IAMGOLD's quarterly revenue surpassed expectations. Additionally, Agnico Eagle announced further investment in Maple Gold Mines.

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