Stock futures pointed to a higher opening for markets in Toronto as oil prices rose on hopes that OPEC and non-OPEC producers may be edging closer to a deal to tackle a huge supply glut.
The S&P/TSX composite index plummeted 246.42 points or 2%, to close Monday at 12,143.16
The Canadian dollar grew 0.35 cents to 70.32 cents U.S. early Tuesday.
A worker at Centerra Gold’s Kumtor mine in Kyrgyzstan was fatally injured while working the night shift on Sunday. The employee was working at the ore conveyor at the mine's mill at the time, the company said in a statement. An internal investigation has been launched, and Kyrgyz police and other relevant regulatory authorities have been contacted.
BMO raised the target price on Detour Gold to $17.00 from $16.75, with a market perform rating after considering recent guidance and revised life-of-mine plan for Detour Lake, which now incorporates Block A now known as Detour West.
Canaccord Genuity cut the target price on Eldorado Gold to $4.00 from $4.25; with a buy rating to reflect 2016 guidance.
Canadian National Railway reports Q4 numbers today, expecting earnings of $1.11 per share
Grocer Metro Inc. expects Q1 earnings of 53 cents per share
ON BAYSTREET
The TSX Venture Exchange slumbered 1.06 points Monday to 482.61.
ON WALLSTREET
U.S. stock futures are stabilizing after being deep in the red earlier this morning.
Ahead of the opening bell, futures for the Dow Jones Industrials advanced two points, to 15,813, futures for the S&P 500 eked up 0.75 points to 1,871. NASDAQ futures dipped 0.75 points to 4,186.
Many U.S. companies are releasing quarterly earnings this morning.
Johnson & Johnson, Procter & Gamble, Lockheed Martin, Sprint, 3M and Coach are among the firms due to report before the bell.
After the close, Wall Street will hear from Apple, AT&T and Capital One.
Wall Street analysts expect Apple will report an astounding $18.2 billion U.S. in profit in the past quarter. That would be a record, not just for Apple, but for any U.S. company -- ever. But the market will also be paying close attention to iPhone sales.
Economically speaking, the Case-Shiller home price index will come out at 9 a.m. ET, giving investors insight into the current state of the U.S. housing market.
Then, the U.S. Conference Board will issue its January Consumer Confidence Index at 10 a.m.
Global markets had been in selloff mode earlier, with negative sentiment taking hold as concerns rose about the falling price of oil.
European markets are now mixed in afternoon trading.
But Chinese stocks took a big hit. The main Shanghai Composite index dropped 6.4% and the Shenzhen index plunged 7.1%.
Oil prices inched up four cents to $30.38 U.S. a barrel
Gold prices added $4.65 to $1,112.55 U.S. an ounce.
