Stock futures pointed to a lower opening for Canada's main stock index on Tuesday, tracking global markets that were weighed down by a rise in bond yields.
The S&P/TSX Composite Index gained 44.98 points to end Friday and the week at 15,452.64. Yet, despite the gains of the past few days, the index is still around 750 points lower than it was to end 2017
The Canadian dollar faded 0.22 cents to 79.34 cents U.S. Tuesday morning.
March futures moved down 0.4% Tuesday.
Markets on both sides of the border took Monday off, the U.S. for Presidents Day, Canada for Family Day
CIBC raised the rating on Capital Power Corp. to outperform from neutral
Desjardins cut the price target on Semafo Inc. to $5.00 from $5.50
On the economic front, Statistics Canada reported that wholesale trade Wholesale sales declined 0.5% to $63.0 billion in December, the first decrease in three months.
Lower sales were recorded in five of seven sub-sectors, representing 65% of total wholesale sales.
ON BAYSTREET
The TSX Venture Exchange subtracted 4.03 points Friday to 830.17
ON WALLSTREET
U.S. stock index futures fell sharply on Tuesday as interest rates climbed back toward multi-year levels.
Futures for the Dow Jones Industrials swooned 192 points, or 0.8%, to 25,044
S&P 500 futures fell 17.25 points, or 0.6%, to 2,717.75, while futures on the NASDAQ Composite sank 44.25 points, or 0.7%, at 6,742.
In earnings, Wal-Mart reported weaker-than-expected earnings, pressuring the stock before the bell. Home Depot released quarterly results that surpassed analyst expectations, lifting the Dow component by nearly 2%.
In economic news, the Philadelphia Fed's non-manufacturing business outlook survey was scheduled to come out at 8:30 a.m. ET. No speeches by members of the U.S. Federal Reserve are set to take place.
Overseas, in Japan, the Nikkei 225 gave up 1%, while in Hong Kong, the Hang Seng Index returned from being shut down for the Lunar New Year by losing 0.8%
Oil prices gained 28 cents to $61.96 U.S. per barrel.
Gold prices dipped $14.20 to $1,342 U.S. an ounce.
