Futures for Canadian stocks were subdued Tuesday, tracking a fall in oil prices and as investors refrained from making big bets ahead of Gross Domestic Product data later in the day.
The TSX climbed 239.36 points, or 1.3%, to conclude Monday at 18,299.62.
The Canadian dollar slid 0.10 cents at 79.01 cents U.S.
March futures declined 0.1% Tuesday.
Canada's National Advisory Committee on Immunization released new guidelines on Monday that advise against vaccinating people who are 65 years and older with AstraZeneca's COVID-19 vaccine, citing lack of information about efficacy in that age group.
Canadian Imperial Bank of Commerce and Bank of Montreal have postponed employees' return to the office to the end of June, nixing an earlier plan to get them back by April, as COVID-19 cases remain high in this country.
As for BMO, CIBC raised the target price on “The First Canadian Bank” to $122.00 from $120.00
CIBC cut the target price on Cargojet to $245.00 from $265.00
CIBC also raised the rating on Scotiabank to outperform from neutral
On the economic calendar, Statistics Canada said GDP edged up 0.1% in December as 12 of 20 industrial sectors were up in the month.
Moreover, the agency said, GDP grew 2.3% in the fourth quarter of 2020, following record fluctuations in the previous two quarters. In 2020, real GDP shrank 5.4%, the steepest annual decline since quarterly data were first recorded in 1961.
ON BAYSTREET
The TSX Venture Exchange regained 15.86 points, or 1.6%, Monday to 1,034.36.
ON WALLSTREET
Futures contracts tied to the major U.S. stock indexes traded slightly lower early Tuesday after the S&P 500 rallied more than 2% Monday for its best day since June.
Futures for the Dow Jones Industrial index retreated 34 points, or 0.1%, to 31,474.
Futures for the S&P 500 docked 4.25 points, or 0.1%, at 3,894.50.
Futures for the NASDAQ Composite lost 12 points, or 0.1%, to 13,267.25.
The 10-year Treasury yield, a point of focus lately for equity investors, was flat at 1.45%.
Shares of Target gained in pre-market trading after reporting booming sales. Though the retailer declined to provide a forecast for 2021.
U.S. equities began March on a strong note on Monday with the S&P 500 up 2.4%, the Dow adding 2% and the tech-heavy NASDAQ jumping just over 3% after shedding 4.9% last week.
Investors on Tuesday will pore over comments made by both Securities and Exchange Commission Chair nominee Gary Gensler and Federal Reserve Governor Lael Brainard.
Gensler will testify before the Senate Banking Committee at 10 a.m. ET while Brainard will deliver a speech entitled "U.S. Economic Outlook and Monetary Policy" via a virtual meeting hosted by the Council on Foreign Relations.
Overseas, In Japan, the Nikkei 225 fell back 0.9%, while in Hong Kong, the Hang Seng index 1.2%.
Oil prices acquired 27 cents to $60.91 U.S. a barrel.
Gold prices tacked on $10.20 to $1,733.20 U.S.
