Stock futures pointed to a lower opening for Canada's main stock index on Tuesday as investors refrained from betting on riskier assets amid fears of a sustained global economic slowdown.
The S&P/TSX composite index tumbled 228.57 points, or 1.8%, to close Monday at 12,535.40. Futures slipped 0.6% Tuesday.
The Canadian dollar eked up 0.02 cents U.S. to 71.81 cents early Tuesday.
Fortis Inc said it would buy ITC Holdings Corp, the largest U.S. independent power transmission company, for $6.9 billion in cash and stock.
CIBC cut the rating on Calfrac Well Services to sector performer from outperform.
Goldman Sachs cut the rating on First Quantum Minerals to sell from neutral
Raymond James raised the rating on Tahoe Resources to strong buy from outperform.
ON BAYSTREET
The TSX Venture Exchange squirted ahead 0.1 points Monday to 508.25
ON WALLSTREET
U.S. stock futures are easing lower while oil is clawing its way back above $30 a barrel despite new evidence that supply continues to outstrip demand.
Ahead of the opening bell, futures for the Dow Jones Industrials dropped 153 points, or 1%, to 15,835, futures for the S&P 500 slipped 18 points, or 1%, to 1,834. NASDAQ futures were grounded 42 points, or 1.1%, to 3,922.25.
Shares of 21st Century Fox were down more than 5% during extended trading after issuing an earnings update late Monday.
Chesapeake Energy got slammed Monday, down 33%, and is down another 17% pre-market even as it assured the market it had no plans to file for bankruptcy.
Google is paying its new CEO Sundar Pichai $199 million U.S. in Alphabet shares on top of his salary.
Companies including CVS, Coca-Cola and Wendy's are reporting this morning. Viacom will also report. Its executive chairman, media mogul Sumner Redstone, recently stepped down.
After the markets close, investors will hear from a Star Wars-fueled Disney, Western Union and Panera Bread.
European markets are bouncing around in early trade. London's FTSE 100 is higher despite a sharp fall once again for mining shares. Germany's DAX is dipping lower after data showed German industrial production fell 1.2% in December, against expectations for a rise.
A lack of liquidity, with Chinese markets closed all week, left shares in Japan exposed following Wall Street's selloff on Monday, and Tokyo's Nikkei plummeted 5.4%.
Oil prices tacked on nine cents to $29.78 U.S. a barrel
Gold prices gained $8.12 to $1,197.35 U.S. an ounce.
