Futures Signal Day of Losses

Shopify, Dentalcorp in Focus

Futures for Canada's main stock index tumbled on Tuesday as investors feared hawkish signals from upcoming central bank meetings, while losses in gold and copper prices were likely to weigh on major mining stocks.

The S&P/TSX Composite gave back 50.09 points to end Monday’s session at 20,571.30.

The Canadian dollar dipped 0.12 cents to 79.23 cents U.S.

March futures plummeted 0.9% Tuesday.

Shopify said proposed changes to its fulfillment network would help merchants on its ecommerce platform compete better with big retailers and would not reduce capacity, fueling a recovery in its shares on Monday.

Scotiabank resumes coverage on Dentalcorp Holdings with an outperform rating

RBC raised the target price on MEG Energy to $18.00 from $15.00

CIBC raises the rating on Rogers Communications to outperform from neutral

ON BAYSTREET

The TSX Venture Exchange forfeited 18.21 points, or 2.1%, to finish Monday’s session at 838.41.

ON WALLSTREET

U.S. stock futures fell Tuesday as market volatility continued after the major indexes on Monday notched one of the biggest comebacks in history.

Futures for the Dow Jones Industrials hurtled lower 384 points, or 1.1%, to 33,869.

Futures for the S&P 500 dumped 81.75 points, or 1.9%, to 4,322.

Futures for the NASDAQ plunged 355 points, or 2.5%, to 14,146.

The Dow on Monday rallied from a more than 1,100-point loss to close up higher and snap a six-day losing streak. The NASDAQ reversed a 4.9% decline from earlier in the day to finish positive — its biggest comeback since 2008. The S&P 500 also rebounded from major losses to close up.

A slew of companies reported quarterly earnings before the bell.

General Electric fell about 2% and Johnson & Johnson lost 1.8% in the premarket after both companies beat earnings expectations, but missed revenue estimates.

3M rose 1.7% after the company’s quarterly report topped Wall Street projections on the top and bottom lines.

Investors also monitored geopolitical tension at the Russia-Ukraine border. President Joe Biden spoke with European leaders Monday amid fears of a possible Russian invasion of Ukraine.

Overseas, in Japan, the Nikkei 225 tumbled 1.7% Tuesday while the Hang Seng in Hong Kong also declined 1.7%.

Oil prices handed back 15 cents to $83.16 U.S. a barrel.

Gold prices sank $1.70 to $1,840.00 U.S. an ounce.