Stock futures pointed to a higher opening for markets in Toronto on Tuesday as a weaker U.S. dollar boosted oil and gold prices.
The S&P/TSX Composite Index was in the red 3.54 points to conclude Monday at 15,316.02. September futures prospered 0.2% early Tuesday.
The Canadian dollar jumped 0.27 cents to 75.72 U.S. early Tuesday.
New York-based hedge fund Paulson & Co on Monday reported a 6.3% stake in embattled Canadian drug maker Valeant Pharmaceuticals International.
National Bank of Canada starts coverage on MEG Energy Corp with a sector perform rating and $4.75 target price
CIBC cut the rating on Winpak Ltd. to neutral from outperform.
ON BAYSTREET
The TSX Venture Exchange dropped 5.34 points Monday to 771.91
ON WALLSTREET
Futures for the tech-heavy NASDAQ index pulled back about half a percent Tuesday after Google was hit with a record fine of $2.7 billion by European Union regulators.
Ahead of the opening bell, futures for the Dow Jones Industrials also retreated, 17 points, or 0.1%, to 21,351. Futures for the S&P 500 faded two points, or 0.1%, to 2,434. NASDAQ futures fell 19.25 points, or 0.3%, to 5,759
Investigations were triggered after the European Commission received dozens of complaints from U.S. and European competitors who claimed that the company abused its search market dominance to give its Google Shopping service an advantage over other retailers and create a monopoly over consumers.
Shares of Google-parent Alphabet traded about 1% lower in the pre-market.
Darden Restaurants, FactSet, IHS Markit and KB Home are due to release earnings.
A slew of economic releases should come out on Tuesday including the S&P /Case-Shiller Home Price Index. Consumer confidence and the Richmond Fed Manufacturing Index are also slated to be released.
European markets were uniformly lower as of noon on the continent, while in Asia, the Nikkei 225 in Japan gained 0.4%, while Shanghai’s CSI 300 added 0.2%
Oil prices improved 58 cents to $43.96 U.S. per barrel.
Gold prices regrouped $3.60 to $1,250.00 U.S. an ounce.
