Positive Start Seen For Canadian Stocks

(RTTNews) - Bay Street looks headed for a firm start Wednesday morning, tracking positive global cues amid rising prospects of several nations striking trade deals with the U.S. before the August 1 deadline.

Rogers Communications Inc. (RCI.A.TO) reported adjusted net income of C$ 632 million for the quarter ended June 30, 2025, compared with C$ 623 million in the year-ago quarter.

Suncor Energy, West Fraser Timber, Waste Connections, Whitecap Resources and First Quantum Minerals are scheduled to announce their quarterly results today.

On the economic front, data on new housing prices is due at 8:30 AM ET.

U.S. President Donald Trump announced trade deals with Japan and Philippines. "We have Europe coming in tomorrow, and the next day, we have some other ones coming in," he said late on Tuesday, without specifying details.

Canadian stocks climbed higher on Tuesday thanks to recent strong economic data. The benchmark S&P/TSX Composite Index turned weak after a firm start, but recovered to settle with a gain of 47.43 points or 0.17% at 27,364.43.

Asian stocks settled mostly higher on Wednesday amid easing trade concerns after Trump announced trade agreements with Japan and Philippines.

The "largest ever" U.S. trade deal with Japan features a 15 percent tariff on Japanese exports and includes a commitment from Tokyo to invest $550 billion in the United States and open its markets for American vehicles, rice, and other agricultural goods.

Trump claimed the U.S. would receive 90 percent of profits from the agreement and that the pact could generate hundreds of thousands of American jobs.

The major European markets are up firmly in positive territory today amid rising prospects of the EU clinching a trade deal with the U.S. ahead of the August 1 deadline.

In commodities trading, West Texas Intermediate Crude oil futures are down $1.34 or 2.02% at $64.87 a barrel.

Gold futures are down $9.00 or 027% at $3,434.80 an ounce, while Silver futures are up $0.175 or 0.44% at $39.730 an ounce.