Futures Looking Up Tuesday

Canada's index futures pointed to a higher opening for the main stock exchange on Tuesday, after the Victoria Day holiday on Monday.

The S&P/TSX Composite Index galloped 181.26 points, or 1.2%, to end the day and the week at 15,458.46. June futures gathered 0.2% early Tuesday.

The Canadian dollar gained 0.17 cents to 74.25 cents U.S. early Tuesday.

The government of Argentina's San Juan province has approved a plan for improving Barrick Gold's Veladero mine following its third spill of cyanide solution in 18 months and could allow full operations to resume in early June.

Barclays raised the rating on Toronto-Dominion Bank to equal weight from underweight

Barclays raised the rating on Bank of Nova Scotia to overweight from equal weight

TD Securities cut the rating on Kelt Exploration to buy from action list buy

On the economic calendar, Statistics Canada reports wholesale trade rose 0.9% in March and surpassed the $60-billion mark for the first time.

The agency reported gains in four of seven sub-sectors, accounting for 60% of total wholesale sales, and were led by the building material and supplies sub-sector.

ON BAYSTREET

The TSX Venture Exchange gained 6.02 points Friday to 806.90

ON WALLSTREET

U.S. stock index futures pointed to a higher open on Tuesday, as investors geared up for more news out of Donald Trump's first overseas trip as president, while keeping an eye on the moves in oil.

Ahead of the opening bell, futures for the Dow Jones Industrials climbed 39 points, or 0.2%, to 20,917. Futures for the S&P 500 inched up three points, or 0.1%, to 2,395.75. NASDAQ futures picked up 12 points, or 0.2%, to 5,714.

AutoZone and Toll Brothers are set to release their latest earnings reports, while investors will be on the lookout for data, including new home sales and the Richmond Fed survey, both slated to come out later this morning.

IHS Markit Flash US Composite PMI data will also be released this morning.

As part of his first foreign trip abroad, President Trump is currently in the Middle East where he is expected to help revive the stalled peace process between Israel and Palestine.

After Trump touched down in Israel on Monday he said there was a "rare opportunity" now to bring security, stability and peace to the Middle East region and its citizens.

On Tuesday, the president traveled to Bethlehem to meet the Palestinian President Mahmoud Abbas. After traveling to parts of the Middle East, the U.S. president will then go on to visit places in Europe.

Bourses in Europe traded slightly higher Tuesday afternoon, in the aftermath of the Manchester, England bomb blast that killed at 22 people, some of them children. The Nikkei 225 index in Japan dipped 0.3%, while the CSI 300 in Shanghai gained 0.4%.

Oil prices faded 12 cents to $51.01 U.S. per barrel.

Gold prices docked $1.30 to $1,260.10 U.S. an ounce.


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