Gross domestic product grew a much better than expected four per cent after contracting in the January-March period because of severe winter weather. That contraction was revised lower to 2.1 per cent from 2.9 per cent.
The Canadian dollar was off 0.04 of a cent to
U.S. futures were higher with the Dow Jones industrial futures up 77 points to 16,922, the Nasdaq futures gained 26 points to 3,978.3 and the S&P 500 futures ran up 10.5 points to 1,973.5.
Traders also took in some positive employment news two days before the release of the American government's employment report for July. Payroll firm ADP reported that 218,000 jobs were created in the private sector during the month. Analysts looked for the U.S. government report to show that about 230,000 jobs were created during July.
Meanwhile, the U.S. Federal Reserve makes its scheduled announcement on interest rates (at
Traders will look for any hint that the central bank could start to hike rates sooner than anticipated. Markets generally expect the Fed to start hiking rates away from near zero in mid-2015.
The Fed is also expected to further reduce the monthly pace of its bond purchases by another
Meanwhile, it's an extremely busy day for earnings on the TSX, particularly from the energy and mining sectors.
Meanwhile, Information technology services company
And media company
Investors will also hear from gold miners
On the commodity markets, September crude gained
September copper was unchanged at
Meanwhile, traders tried to assess the effect of the latest round of sanctions against
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