Stock futures pointed to a higher opening for Canada's main stock index on Tuesday, tracking world markets, as investors await further clues on whether the U.S. Federal Reserve will raise interest rates this year.
The S&P/TSX Composite battled out of negative territory, and forged into the green 60.73 points to close Monday at 14,748.19. Futures improved 0.1% early Tuesday
The Canadian dollar sprang up 0.32 cents to 77.52 cents U.S. early Tuesday.
Three Canadian pension funds agreed to sell their stakes in TMX Group, which owns the Toronto Stock Exchange, for a combined value of about $312 million.
BMO cut the rating on Absolute Software to market perform
Canaccord Genuity raised the target price on convenience store giant Alimentation Couche-Tard to $78.00 from $73.00 with a buy rating.
RBC cut the rating on Performance Sports Group to underperform from sector perform
ON BAYSTREET
The TSX Venture Exchange slumped 12.87 points Monday to 820.24
ON WALLSTREET
U.S. stock index futures rose on Tuesday, as investors digested a further set of earnings on Wall Street, and looked ahead to a key speech by Federal Reserve Chair Janet Yellen
Ahead of the opening bell, futures for the Dow Jones Industrials gathered 41 points or 0.2%, to 18,560, while futures for the S&P 500 gained 4.5 points, or 0.2%, at 2,186. NASDAQ futures added 11.75 points, or 0.2%, to 4,823.50
On the earnings front, Best Buy shares surged after reporting quarterly results. Intuit, Trina Solar and Regis are also expected to release their latest earnings.
On the data front, investors will be on the lookout this morning for the New Home Sales data and Richmond Fed survey. Markit's Flash U.S. Manufacturing Purchasing Managers Index is also expected to be released in the morning.
European stocks traded higher in morning trade while Asia-Pacific indexes showed a mixed picture in trade overnight.
Yellen is set to give a speech on Friday at the Federal Reserve Bank of Kansas City's annual Economic Policy Symposium at Jackson Hole, Wyoming.
Oil prices docked 38 cents to $47.03 U.S. a barrel
Gold prices tacked on $2.20 to $1,345.60 U.S. an ounce.
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