Futures for stocks in Canada’s biggest centre were virtually unchanged on Tuesday, with investors awaiting earnings reports from some major companies, including Silver Wheaton, IAMGOLD and TMX Group.
The S&P/TSX Composite Index strode forward 70.04 points to close Monday at 15,652.08 June futures subsided 0.01% Tuesday
The Canadian dollar squeezed ahead 0.01 cents to 73.01 cents U.S. early Tuesday.
Hudson's Bay Co has hired a debt restructuring adviser to review potential options for combining its business with debt-laden U.S. department store operator Neiman Marcus Group
Valeant Pharmaceuticals International reported a first-quarter profit on Tuesday, compared with a year-ago loss, due to a one-time income tax benefit, and the drug maker also raised its full-year adjusted EBITDA forecast.
OpenText Corp reported a lower-than-expected quarterly profit on Monday as expenses rose over 50%, offsetting gains across all its businesses.
BMO raised the price target on Absolute Software to $8.50 from $7.50, with a market perform rating
CIBC cut the target price on Ensign Energy Services to $10.50 from $12.50
BMO raised the price target on Trilogy Energy to $5.00 from $4.75, with a market perform rating
In the economic docket, Statistics Canada reported that the value of building permits issued by Canadian municipalities fell 5.8% to $7.0 billion in March, marking a second consecutive monthly decrease.
The agency adds that all provinces and territories, except Ontario and Quebec, registered decreases in the total value of building permits in March.
ON BAYSTREET
The TSX Venture Exchange lopped off 1.64 points Monday to 780.08
ON WALLSTREET
U.S. stock index futures pointed to a flat to slightly higher open on Tuesday, with investors gearing up for a slew of earnings results, on top of being on the lookout for new data and comments from leading Fed members.
Ahead of the opening bell, futures for the Dow Jones Industrials moved forward 31 points, or 0.2%, to 20,972. Futures for the S&P 500 advanced 2.5 points, or 0.1%, to 2,397.50. NASDAQ futures added 6.5 points, or 0.1%, to 5,662.
Major U.S. companies are set to release their latest earnings on Tuesday, with Allergan, and SeaWorld, were among the companies that reported before the bell. Disney, News Corp., and Discovery Communications were among the firms reporting after the bell.
On the data front, the National Federation of Independent Business survey showed small-business confidence slipped in April. Wholesale trade and JOLTs (job openings and labour turnover survey) are also due later on Tuesday.
In the central banking sphere, members from the U.S. Federal Reserve are expected to deliver speeches on Tuesday.
Minneapolis Fed President Neel Kashkari is expected to be in Minneapolis, while Dallas Fed President Robert Kaplan will speak at an investment summit.
Boston Fed President Eric Rosengren will also speak about the U.S. economy and commercial real estate at New York University Stern School of Business.
Elsewhere in the world, bourses in Europe were posting gains, while Japan’s Nikkei 225 subsided 0.3%, while Shanghai’s CSI 300 dropped 0.2%
Oil prices fell 18 cents to $46.25 U.S. per barrel.
Gold prices faded $3.90 to $1,223.20 U.S. an ounce.
