Canadian shares are likely to open marginally higher on Wednesday, riding on firm crude oil prices and encouraging updates on the vaccine front.
The passage of U.S. fiscal stimulus and the massive vaccination drives in several countries have lifted hopes for a strong economic recovery in the coming year.
On the vaccine front, Britain has given its nod to AstraZeneca's COVID-19 vaccine, co-developed by the University of Oxford.
However, uncertainty about the U.S. Senate passing a bill that seeks to increase payments of $1,200 to eligible Americans may weigh on sentiment.
The Canadian market ended moderately lower on Wednesday, due largely to profit taking in technology and healthcare sections. The benchmark S&P/TSX Composite Index ended down 80.45 points or 0.46% at 17,543.43. The index, which advanced to 17,661.17 at the start, swiftly fell to a low of 17,512.22.
Bausch Health Companies Inc. (BHC.TO) announced that the Office for Registration of Medicinal Products, Medical Devices and Biocidal Products in Poland has granted an additional new indication for DEXAVEN solution for injection, 4 mg/ml, for the treatment of COVID-19 in adult and adolescent patients who require oxygen therapy.
Asian markets ended mixed on Wednesday amid uncertainty about the U.S. Senate's nod for an increase in the size of stimulus checks to $2,000.
European markets gave up early gains and are currently flat, despite positive news on the vaccine front. The UK Medicines and Healthcare products Regulatory Agency has approved AstraZeneca's COVID-19 vaccine, co-developed by the University of Oxford, for emergency supply in the UK, with the first doses being released today. The vaccinations may begin early in the New Year.
In commodities, West Texas Intermediate Crude oil futures for February are up $0.35 or 0.7% at $48.35 a barrel.
Gold futures are flat at $1,883.10 an ounce, while Silver futures are declining $0.220 or 0.88% at $26.437 an ounce.
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