Futures pointed to a higher opening for Canada's main stock index on Tuesday, supported by rising gold prices.
The S&P/TSX Composite Index gained 74.47 points to end Friday, the week, and month and the first half of calendar 2019 at 16,382.20. But the index lost on the week… 143 points in all.
The Canadian dollar notched ahead 0.07 cents to 76.23 cents U.S. early Tuesday
September futures gained 0.3% Tuesday.
Markets in Canada were closed Monday for Canada Day
Canaccord Genuity initiated coverage on Stingray Digital Group with a buy rating and $10 target price
Berenberg raised the target price on Endeavour Mining to $24.35 from $22.55
CIBC cut the target price on TFI International to $45.00 from $47.00
On matters macroeconomic, the Markit Manufacturing Purchasing Managers Index for June is due out this morning.
ON BAYSTREET
The TSX Venture Exchange gained 5.42 points Friday to 585.47, easing the weekly loss to just more than seven points.
ON WALLSTREET
S&P 500 futures slipped Tuesday morning after the U.S. threatened a new wave of tariffs on European goods, dampening recent optimism surrounding the Washington-Beijing trade truce.
Futures for the Dow Jones Industrials faded 26 points, or 0.1%, to 26,674.
Futures for the S&P 500 dropped two points, or 0.1%, at 2,965.75. The index closed at a record high on Monday at 2,964.33
NASDAQ futures fell 9.75 points, or 0.1%, to 7,780.25
In corporate news, Acuity Brands, Simply Good Foods, and Greenbrier Companies are expected to report their latest quarterly results before the opening bell.
The U.S. government on Monday threatened to impose tariffs on $4 billion of additional European Union goods in a long-running dispute over aircraft subsidies. The U.S. Trade Representative’s office released a list of products — including olives, Italian cheese and Scotch whiskey — that could be hit with new levies in additional to those introduced in April.
Chipmakers and other tech companies helped buoy the S&P 500 to at all-time high on Monday on the heels of improved U.S.-China trade talks. President Donald Trump and Chinese President Xi Jinping agreed not to impose new levies on U.S. and Chinese goods after meeting on the sidelines of the G-20 summit in Japan on Saturday.
Though Trump said the meeting went as well as it could have, the U.S. president said Monday that any trade deal with Beijing would be "somewhat tilted" in favor of Washington.
On the data front, investors are likely to monitor the latest light vehicle sales figures for June on Tuesday.
Overseas, the Nikkei 225 squeezed up 0.1% Tuesday, while in Hong Kong, the Hang Seng index gained 1.2%
Oil prices sank 36 cents to $58.73 U.S. a barrel.
Gold prices gained $4.70 to $1,394.00 U.S. an ounce.
