Bay Street Likely To Open On Weak Note

(RTTNews) - Lower Canadian and U.S. futures, and sharply lower metal prices point to a negative start on Wednesday, the last trading day of Year 2025.

The Canadian benchmark has gained almost 30% this year, thanks largely to impressive gains posted by mining and bank stocks.

Gold prices are down $64.40 or 1.47% at 4,321.90 an ounce, while Silver futures are down as much as $6.819 or 8.8% at $71.090 an ounce. Copper futures are down $0.099 or 1.7% at $5.6825 per pound.

Canadian stocks settled lower on Tuesday as traders refrained from big bets due to upcoming New Year's Day holiday followed by weekend holidays.

The benchmark S&P/TSX Composite Index gathered early momentum but shed ground near the closing of the session before settling at 31,866.26, down by 30.33 points or 0.1%.

Major stock markets in Asia closed on a mixed note on Wednesday amidst shortened trading hours, holidays and thin trading volume. Most Asian markets ended the year with strong gains fueled by AI boom. Equity markets in Japan and South Korea remained closed for a holiday.

Among the major European markets, U.K. and France are turning in a mixed performance. The markets in Germany and Switzerland are closed for New Year's Eve.