Loonie, overseas stock indexes show some strength; U.S. stock futures up

TORONTO -- The weak Canadian dollar was showing some strength Wednesday before North American stock markets opened.

The Canadian dollar trading at 70.35 cents US, was up 0.18 of a cent from Tuesday's close.

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Earlier that day, the loonie fell briefly below 70 cents US for the first time in nearly 13 years.

The Dow Jones index futures were up 101.0 points at 16,464.0, S&P 500 futures advanced 12.75 points to 1,1937.75 and the Nasdaq futures gained 30.25 points to 4,342.75 about an an hour before Toronto and New York stock markets opened.

Major stock indexes in Asia mostly closed higher, except the Shanghai index which fell about 2.4 per cent. European markets were mostly higher.

On the commodity markets, the February gold contract was down $4.80 at US$1,080.40 an ounce and the crude contract was up 77 cents at US$31.21 per barrel. On Tuesday, crude futures dipped below US$30 for the first time in years.

On Tuesday, the Toronto Stock Exchange's S&P/TSX composite index added 54.65 points to end the day at 12,373.90 -- its first positive result since the Christmas break.



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