Futures for stocks in Canada’s largest market were flat on Tuesday as investors awaited the January trade balance data.
The S&P/TSX Composite Index fought its way into the green 21.25 points to close Monday at 15,629.75, with March futures down 0.03% Tuesday.
The Canadian dollar sank 0.07 cents to 74.55 cents U.S. early Tuesday.
Uranium behemoth Cameco Corp’s CEO said Monday the world's second-biggest uranium producer is exploring the sale of its U.S. production facilities, as a six-year industry slump drags on.
Valeant Pharmaceuticals International plans to line up a $3.06-billion incremental term loan and junk bond sale as part of a debt restructuring.
Newmont Mining on Monday became the latest of the world's biggest gold miners to invest in the Yukon, the site of a famous gold rush 120 years ago, as miners hunt for rich, new deposits in safe regions.
CIBC raised the rating on Scotiabank to outperform from neutral
CIBC raised the target price on Canadian Western Bank to $33 from $32
CIBC raised the target price on Royal Bank of Canada to $106.00 from $101.00
On the economic slate, Statistics Canada said our international merchandise trade balance with the rest of the world posted a third consecutive monthly surplus, widening from $447 million in December to $807 million in January. Exports were up 0.5% while imports edged down 0.3%.
Later on this morning, Western University’s IVEY Purchasing Managers’ Index is due out.
ON BAYSTREET
The TSX Venture Exchange plummeted 8.21 points, or 1%, Monday to 810.25
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Tuesday amidst growing concerns over U.S. President Donald Trump's ability to implement economic policies.
Ahead of the opening bell, futures for the Dow Jones Industrials sagged 31 points, or 0.2%, to 20,926. Futures for the S&P 500 gave back five points, or 0.2%, to 2,370.5. NASDAQ futures subtracted 10.5 points, or 0.2%, at 5,350.50.
The long-awaited legislation to repeal and replace Obamacare was unveiled on Monday by U.S. Republicans although it was greeted with immediate criticism from the Democrats.
On the earnings front, Dick's Sporting Goods posted fourth-quarter earnings and revenue before the bell on Tuesday that beat Wall Street's expectations. Same-store sales for the quarter also beat estimates.
Brown-Forman reported fiscal third-quarter earnings on Tuesday that missed analysts expectations but beat on revenue.
H&R Block, Aerovironment and Urban Outfitters are all due to report after the market close.
Experts put market expectations for a U.S. interest rate hike at 86.4% Monday. The Fed's monetary policy committee is set to meet Tuesday and Wednesday of next week.
On the data front, Tuesday will see trade deficit numbers released this morning and consumer credit for January out at 3 p.m ET.
In Europe, stocks were flat, while Asian stocks were positive, though the Nikkei 225 in Japan drooped 0.2%.
Oil prices gained 30 cents to $53.50 U.S. per barrel.
Gold prices dipping $3.60 to $1,221.90 U.S. an ounce.
