Everything You Need to Know on Wednesday: Royal Bank of Canada Reports $4.22 Billion Q4 Profit

Good morning mooers! Here are things you need to know about today's market:

● S&P/TSX 60 Index Standard Futures are trading at 1,541.60, up 0.19% from previous close

● Royal Bank of Canada reports $4.22 billion Q4 profit, increases dividend

● National Bank of Canada reports increased Q4 profit, boosts dividend

● Canada will release Q3 labor productivity data at 8:30 a.m. ET on Wednesday

Today, the Canadian dollar is trading at 71.1 US cents, an increase from the previous close.

Canada's Labor Productivity Slips 0.4% Q/Q in Q3; Scotiabank Saw 0.3% Decline.

RBC reported earnings of $2.91 per diluted share for the quarter ending October 31, compared to $2.76 per diluted share a year ago. Revenue rose to $15.07 billion from $12.69 billion, while provisions for credit losses increased to $840 million from $720 million.

On an adjusted basis, RBC earned $3.07 per diluted share, exceeding analyst expectations of $3.01 per share, as per LSEG Data & Analytics.

For the quarter ending October 31, the bank earned $955 million, or $2.66 per diluted share, compared to $751 million, or $2.09 per diluted share, in the same period last year. Revenue increased to $2.94 billion from $2.56 billion, while provisions for credit losses rose to $162 million from $115 million.

On an adjusted basis, National Bank earned $2.58 per diluted share, surpassing analysts' expectations of $2.57 per share, as reported by LSEG Data & Analytics.