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Markets in for Down Day

CN, Boat Rocker in Focus

Futures for Canada's main stock index slipped on Tuesday as elevated U.S. Treasury yields weighed on risk assets and gold prices, although a jump in crude prices limited losses.

The TSX fell 146.9 points to end Monday at 19,204.42.

The Canadian dollar acquired nine cents Tuesday at 79.76 cents U.S.

June futures were down 0.5% Tuesday.

Canadian National Railway plans to make a $30-billion bid for railroad operator Kansas City Southern, the Wall Street Journal reported on Tuesday.

Cormark Securities initiates coverage on Boat Rocker Media with a buy rating, and a price target of $13.00

CIBC raised the target price on Emera to $58.00 from $57.00.

RBC cuts the rating on PrairieSky Royalty to sector perform from outperform.


The TSX Venture Exchange demurred 15.29 points, or 1.6%, Monday to 929.17.


U.S. stock futures fell on Tuesday, pointing to a second day of losses for a stock market that had been climbing steadily to record after record.

Futures for the 30-stock index stumbled 138 points, or 0.4%, to 33,820.

Futures for the S&P 500 slid 18 points, or 0.4%, to 4,137.50.

Futures for the NASDAQ Composite index fell 56 points, or 0.4%, to 13,841.25.

Procter & Gamble shares rose slightly in pre-market trading after the consumer giant reported quarterly earnings that beat expectations with pandemic home care trends lingering and beauty sales picking up.

Johnson & Johnson shares remained flat in early trading following better-than-expected earnings and revenue. The company also reported $100 million in first-quarter sales of its COVID-19 vaccine that’s on hold in the U.S. while U.S. health regulators investigate a rare blood-clotting issue.

Another Dow component Travelers Companies saw its shares rise more than 1% after quarterly results topped Wall Street’s estimates. The company also raised its quarterly cash dividend and approved an additional $5 billion of share buybacks.

The first-quarter earnings season got off to a strong start last week as the major U.S. banks reported. Financials earnings have topped expectations by 38%, while others in the S&P 500 have surprised to the upside by 12%, according to data from Credit Suisse.

Streaming giant Netflix is slated to release numbers after the bell. Wall Street analysts expected Netflix to remain a winner in the streaming space even as the pandemic recovery improves.

Overseas, in Japan, the Nikkei 225 plunged 2% Tuesday, while in Hong Kong, the Hang Seng index eked ahead 0.1%.

Oil prices edged higher by six cents to $63.44 U.S. a barrel.

Gold prices grew $3.20 to $1,773.80 U.S.