Canada’s main stock index futures were slightly higher on Tuesday, benefiting from gains in energy shares due to a rise in oil prices.
The S&P/TSX Composite Index backpedaled 121.94 points to end Monday at 15,589.39
The Canadian dollar eked up 0.03 cents to 76.46 cents U.S. early Tuesday
June futures were better by 0.1% Tuesday.
A U.S. judge on Monday rejected BlackBerry’s request to dismiss a lawsuit claiming it inflated its stock price and defrauded shareholders by painting a misleadingly positive picture of sales prospects for its BlackBerry 10 smartphones.
Capstone Mining said on Monday a worker died at its Cozamin mine in Mexico while working on an underground voltage regulator.
CIBC raised the target price on Advantage Oil & Gas to $6.50 from $5.50
CIBC raised the rating on Gibson Energy from underperformer to neutral
CIBC raised the target price on Seven Generations Energy to $24.00 from $22.00
U.S. President Donald Trump appears to be "enthusiastic" about coming to an agreement on the North American Free Trade Agreement, Prime Minister Justin Trudeau said on Monday amid signs the pace of talks is accelerating.
Economically speaking, Statistics Canada reported this morning that wholesale sales edged up 0.1% to $63.3 billion in January. Sales were up in four of seven sub-sectors, accounting for 66% of total wholesale sales.
ON BAYSTREET
The TSX Venture Exchange remained buoyant 1.77 points Monday to 835.44
ON WALLSTREET
U.S. stock index futures were lower on Tuesday, but pointed to slight gains at the open, after U.S. equities pulled back in the previous session led by a selloff of Facebook shares.
Futures for the Dow Jones Industrial Average sank 118 points, or 0.5%, to 24,847
S&P 500 futures dropped 12 points, or 0.4%, to 2,744 while futures on the NASDAQ Composite hurtled lower 78 points, or 1.1%, to 6,966.
The earnings front is thin with FedEx and Steelcase reporting after the bell.
Facebook lost 6.8% on Monday after reports that an analytics firm, Cambridge Analytica, collected data from 50 million profiles without the users' permission. The firm worked with the tech giant on campaign ads for President Donald Trump. Policymakers have raised concerns over Facebook's data usage, raising fears that tougher data protection rules will be implemented across the industry.
In the meantime, markets will also monitor the latest meeting of the Federal Reserve. Policymakers start their two-day meeting Tuesday — the first to be headed up by the newly appointed Chair Jerome Powell. The expectations are that the central bank will increase interest rates. But investors will also look for clues as to how many rate rises the Fed could announce this year.
In terms of economic data, the March Philadelphia Fed manufacturing numbers were due out Tuesday morning.
Meanwhile, European equities traded higher on earnings, while in Japan, the Nikkei 225 dipped 0.5%, while in Hong Kong, the Hang Seng Index squeaked higher 0.1%
Oil prices gained 77 cents to $62.83 U.S. per barrel.
Gold prices dropped $6.70 to $1,311.10 U.S. an ounce.
Related Stories
