Bay Street May Open With Positive Bias

(RTTNews) - Canadian stocks may open with a positive bias on Wednesday, tracking higher oil and precious metals prices. Earnings news and U.S. consumer price inflation data are likely to make an impact on investor sentiment. The focus will also be on the developments in the Middle East.

Air Canada reported a loss C$178 million or C$0.63 per share in the second-quarter, as against earnings of C$186 million or C$0.51 per share in the corresponding quarter last year.

Excluding one-time items, earnings decreased to C$114 million or C$0.40 per share from C$207 million or C$0.60 per share previous year. However, operating revenues increased to C$6.27 billion from C$5.6 billion of prior year, Air Canada said.

Maple Leaf Foods reported earnings from continuing operations of $41 million ($0.33 basic earnings per share) in the second quarter, compared to $39 million ($0.31 basic earnings per share) for the same period last year.

Hydro One reported second quarter basic earnings per share of $0.62 compared to EPS of $0.54 for the same period in 2025.

Metro Inc. reported third-quarter net earnings of $211.3 million, down 34.6% from a year ago. Adjusted net earnings came in at $262.6 million, down 20.9% compared to the year-ago quarter.

Pan American Silver, CCL Industries, Stantec, Linamar, Northland Power, Boralex and CAE are scheduled to announce their results today.

Canadian stocks edged slightly higher on Tuesday as investors assessed reports indicating the possibility of a settlement between the U.S. and Iran to end their six-month conflict.

The benchmark S&P/TSX Composite Index pared early gains and settled at 36,475.92, up by 17.59 points or 0.05%.

Asian stocks ended mixed on Wednesday as investors monitored oil price movements and awaited the U.S. CPI report later in the day for additional clues on the Federal Reserve's rate trajectory.

European stocks are turning in a mixed performance with investors mostly cautious as they look ahead to U.S. inflation data.

In commodities trading, West Texas Intermediate Crude oil futures are up $0.51 or 0.61% at $83.71 a barrel.

Gold futures are gaining $25.70 or 0.58% at $4,466.80 an ounce, while Silver futures are up $1.390 or 2.1% at $66.330 an ounce.