Stock futures pointed to a lower opening for markets in Toronto on Tuesday as an expected surge in U.S. shale oil output in May weighed on oil prices.
The S&P/TSX Composite Index climbed 149.41 points, or nearly 1%, to close Monday at 15,684.89, its biggest rise in more than six weeks. June futures began Tuesday down 0.4%.
The Canadian dollar dipped 0.19 cents at 74.84 cents U.S. early Tuesday.
Air Canada has apologized and offered compensation for bumping a 10-year-old off a flight, the boy's father said on Monday, after the
Canadian family's story sparked headlines following a high-profile incident involving overbooking by U.S. carrier United Airlines.
Moody’s reported Monday that Bank of Montreal is bundling nearly $2 billion of prime Canadian mortgages into securities
Barclays raised the rating on ARC Resources to overweight from equal weight
RBC raised the target price on Kirkland Lake Gold to $13.00 from $11.00
CIBC raised the rating on Trican Well Service to outperform from neutral
In the economic docket, Statistics Canada reported that foreign investment in this country reached a record high $38.8 billion worth of securities in February, led by the issuing of new Canadian shares to non-resident investors.
At the same time, Canadian investors acquired $6.3 billion of foreign securities, mainly U.S. instruments.
ON BAYSTREET
The TSX Venture Exchange faltered 4.92 points, however, to end Monday at 829.70
ON WALLSTREET
U.S. stock index futures pointed to a lower open on Tuesday as traders eyed escalating geopolitical tensions concerning North Korea while earnings season kicked into full gear.
Ahead of the opening bell, futures for the Dow Jones Industrials shed 60 points, or 0.3%, to 20,509. Futures for the S&P 500 faded 5.75 points, or 0.3%, to 2,339.25. NASDAQ futures dipped 9.25 points, or 0.2%, to 5,386
On the earnings front, Bank of America, Johnson & Johnson and UnitedHealth reported before the bell. IBM, Intuitive Surgical and Yahoo are all due to report after the market close.
Goldman Sachs also reported first-quarter results, disappointing Wall Street analysts. The banking giant's stock fell about 3% in the pre-market, pressuring Dow futures.
Economically speaking, Tuesday will see housing starts, building permits and industrial production for March released by 9:15 a.m ET.
U.S. Vice President Mike Pence reassured Japan of American commitment to reining in North Korea's nuclear and missile ambitions on Tuesday, after warning that U.S. strikes in Syria and Afghanistan showed the strength of its resolve.
Pence arrived in Tokyo from South Korea, where he assured leaders of an "iron-clad" alliance with the United States in the face of the reclusive North, which has conducted a series of missile and nuclear tests in defiance of U.N. sanctions.
Investors also kept an eye on France, as campaigning ramped up ahead of the first round of the presidential election. Left-wing candidate Jean-Luc Melenchon's surge in polls added to investors' worries as it becomes unclear who will win the contest.
In Europe, markets slumped on Tuesday after U.K. Prime Minister Theresa May "reluctantly" called for an early election. In Asia, the CSI 300 was 0.5% lower, while the Nikkei in Japan closed 0.4% higher.
Oil prices slid 33 cents to $52.32 U.S. per barrel.
Gold prices dropped $5.20 to $1,286.70 U.S. an ounce.
