Futures Rise Ahead of Rate Decision

Futures for Canada's main stock index rose on Wednesday as investors awaited interest rate verdicts and comments from the U.S. Federal Reserve and the Bank of Canada later in the day.The TSX index jumped 130.3 points to end Tuesday at 25,468.49. March futures on the S&P/TSX index were up 0.3% Wednesday. The Canadian dollar dropped 0.15 cents to 69.29 cents U.S. early Wednesday. Domestic investors are focused on the Bank of Canada's first monetary policy decision of the year, scheduled for 9:45 a.m. ET.Analysts widely expect a 25 basis-point interest rate cut, aimed at mitigating potential economic downturns from proposed U.S. tariffs.In corporate news, consulting services firm CGI reported first-quarter revenue below estimates.ON BAYSTREET The TSX Venture Exchange hiked 6.59 points, or 1.1%, Tuesday to 609.43. ON WALLSTREET Stock futures were near the flatline on Wednesday as investors turned toward the first Federal Reserve interest rate decision of 2025.Futures for the Dow Jones Industrials moved up 32 points, or 0.1% to 44,999.Futures for the S&P 500 eked up 0.75 points to 6,097.75.Futures for the tech-heavy NASDAQ acquired 82 points, or 0.4%, to 21,663.75. Tech stocks on Tuesday led the S&P 500 higher and brought the NASDAQ Composite to a 2% gain. The two indexes made a comeback after incurring sharp losses on Monday in a selloff spurred by the emergence of China’s DeepSeek and the threat it poses to the artificial intelligence trade. Nvidia, which suffered a roughly 17% decline Monday, jumped nearly 9% on Tuesday.The Fed’s interest rate decision on Wednesday is now a focal point for investors, as well as Fed Chair Jerome Powell’s press conference. Fed funds futures data reflect a nearly 100% certainty that the central bank will keep rates steady at a target range of 4.25% to 4.5%. Investors will be paying especially close attention to Powell’s comments — his first press conference in President Donald Trump’s second term. The two have had a contentious relationship dating back to Trump’s first term. The president has already said he would “demand that interest rates drop immediately.”A volley of Big Tech earnings are due Wednesday afternoon, with Meta Platforms, Microsoft and Tesla issuing their quarterly reports.In Japan, the Nikkei 225 grabbed 1% Wednesday, while in Hong Kong, markets were closed for Lunar New Year.Oil prices sagged 55 cents to $74.11 U.S. a barrel. Gold prices dropped $8.20 to $2,770.70 U.S. an ounce.