December futures on the S&P/TSX index were down 0.1% at 6:16 a.m. ET (11:16 GMT).
Energy shares are expected to take a hit from a downturn in oil prices as investors awaited news on output cuts from the OPEC+ producers group and looked for confirmation of a sharp build-up in U.S. crude stocks. [O/R]
Materials stocks could also slip as copper prices lowered on a stronger dollar. [MET/L]
The Toronto Stock Exchange's S&P/TSX composite index ended down 136.50 points, or 0.7%, at 20,109.97 on Tuesday, as financial and energy shares lost ground.
From the U.S., durable goods data for October and weekly jobless claims numbers are scheduled for release at 8:30 am ET, followed by a final reading of the University of Michigan's consumer sentiment index for November.
U.S. stock index futures were muted on Wednesday as shares of Nvidia slipped after the chip designer warned of a slowdown in China sales, while investor optimism about potential rate cuts from the Federal Reserve next year also waned. [.N]
In corporate news, brokerage firm CIBC slashed its price targets for at least seven Canadian banks including, Scotiabank, Bank of Montreal and TD Bank Group.
COMMODITIES AT 6:16 a.m. ET
Gold futures: $2,004.2; +0.1% [GOL/]
US crude: $77.11; -0.9% [O/R]
Brent crude: $81.79; -0.8% [O/R]
($1= C$1.3701)
(Reporting by Khushi Singh in Bengaluru; Editing by Shailesh Kuber)
