Canadian stocks may open higher Wednesday amid steady commodities and mixed cues from the global equity markets. While Asian stocks saw widespread losses to settle notably lower overnight, extending a global rout in equities and commodities, on lingering worries over the future of the Federal Reserve's bond-buying policy, the European markets were moving higher on bargain hunting, as some news on the M&A front helped balance the negative sentiment triggered by concerns about the future of the stimulus programs.
U.S. stock futures were pointing to a higher open.
On Tuesday, the S&P/TSX Composite Index lost 159.10 points or 1.28 percent to 12, 223.57.
In the commodity market, the price of crude oil was ticking lower Wednesday morning as traders await cues from the official inventories data, due out later during the session. Crude for July eased $0.05 to $95.33 a barrel.
The price of gold was lingering around its three-week low Wednesday morning, with the US dollar recovering from its recent losses versus a basket of currencies. Gold for August edged down $1.40 to $1,375.60 an ounce.
In corporate news from Canada, dollar store operator Dollarama Inc. (DOL.TO) posted higher first-quarter net earnings of C$45.6 million or C$0.62 per share compared with C$42.6 million or C$0.56 per share a year before. Analysts expected earnings per share of C$0.67 for the quarter.
Real estate services company Temple Hotels (TPH.TO) said it divested its 15.70 percent stake or 2.9 million common shares of Holloway Lodging Corp. (HLC.TO) at a price of $3.54 per share for a total of $10.3 million.
Midland Resources Holding said it acquired 6.1 million common shares of Holloway Lodging Corp. (HLC.TO) at $3.525 per share, representing about 34 percent of outstanding shares.
E-commerce solutions provider Mediagrif Interactive Technologies (MDF.TO) reported improved net income for the fourth quarter of C$3.4 million or C$0.22 per share compared to C$2.6 million or C$0.19 per share for the year-ago quarter. Analysts expected the company to earn C$0.24 per share for the fourth quarter. Further, the company declared a quarterly dividend of C$0.10 per share.
In economic news, euro zone industrial production grew 0.4 percent in April from a month ago, largely due to higher output of capital goods and non-durable consumer goods, data from Eurostat revealed. Industrial output was forecast to remain flat after rising 0.9 percent in March.
Germany's EU harmonized inflation accelerated in May, but to a lesser extent than initially estimated, final data released by the Federal Statistical Office showed. Inflation as per the harmonized index of consumer prices rose to 1.6 percent in May from 1.1 percent in April. The flash estimates were for an inflation rate of 1.7 percent.
The number of people claiming unemployment benefits in the U.K. decreased by 8,600 in May from April, the Office for National Statistics reported. The decline was sharper than the expected drop of 5,000.
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Market Analysis
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.