TSX Futures Barely Move

Futures tracking Canada's blue-chip stocks were little changed in thin volumes on Wednesday as investors awaited details of the U.S.-Iran peace agreement and the Federal Reserve's outlook on monetary policy.

The TSX Composite Index marched ahead 113.94 points to conclude Tuesday at 35,389.58.

June futures retreated 0.1% Wednesday.

The Canadian dollar backed off 0.09 cents to 71.36 cents U.S.

Federal Trade Minister Dominic LeBlanc said he had a constructive meeting with U.S. Trade Representative Jamieson Greer, with talks planned as USMCA review timelines extend beyond July 1 without immediate renegotiation.

ON BAYSTREET

The TSX Venture Exchange recovered 6.12 points Tuesday to 985.64.

ON WALLSTREET

S&P 500 and NASDAQ futures rose in early trading Wednesday as traders awaited the latest monetary policy decision from the Federal Reserve, while SpaceX was set to gain once again.

Futures for the Dow Jones Industrials was static at Tuesday’s reading of 52,044.

Futures for the S&P 500 index inched up 9.75 points, or 0.1%, to 7,528.25.

Futures for the NASDAQ Composite jumped 181 or 0.6%, to 30,176.

SpaceX traded higher by 3.5% in the premarket. The stock has been on fire since the rocket company’s initial public offering last week, which was priced at $135. In that short time, shares are up around 50%, bolting the company’s valuation above that of Amazon’s.

Chip stocks also rose in early trading, with ASML advancing 4% and Intel popping by 3%.

The Fed will deliver its latest policy decision at 2 p.m. It will be the first under new Chairman Kevin Warsh, who will also hold a news conference at 2:30 p.m. EDT

Investors are largely expecting that the Fed will keep interest rates unchanged at a target range of 3.5% to 3.75%.

However, most Wall Street Fed watchers anticipate that Warsh won’t submit a “dot” to the FOMC’s quarterly update of where individual officers expect rates to head from here.

In Japan, the Nikkei 225 advanced 0.7% Wednesday, while in Hong Kong, the Hang Seng slid 0.7%.

Oil prices poked higher 52 cents to $76.57 U.S. a barrel.

Gold prices ditched $4.70 to $4,349.70 U.S an ounce.