Futures tied to Canada's commodity-heavy main stock index inched up on Tuesday, lifted by gains in oil and gold, while markets stayed optimistic about a potential interest rate cut from the Bank of Canada later this month.
The TSX Composite Index finished in the red 22.9 points to end Monday at 29.027.73.
The Canadian dollar fell 0.04 cents to 72.44 cents U.S.
Futures were ahead 0.2% Tuesday.
Expectations that the BoC and the U.S. Federal Reserve will resume their easing cycles have supported sentiment since Friday, following disappointing jobs data from both the United States and Canada.
Investors assign a 92.5% probability that the Bank of Canada will lower its benchmark rate from 2.75% on Sept. 17.
Among other commodities, oil and copper prices edged higher.
Markets were also assessing multiple mergers and acquisitions deals.
London-listed miner Anglo American and Teck Resources said on Tuesday they plan to merge, in what would be the biggest mining-sector M&A deal in more than a decade.
Separately, the bidding war for Canadian oil sands producer MEG Energy heated up as Strathcona Resources raised its offer to outbid larger rival Cenovus Energy.
ON BAYSTREET
The TSX Venture Exchange moved forward 6.68 points Monday to 863.93
ON WALLSTREET
U.S. stock futures rose slightly Tuesday after the NASDAQ Composite hit a new record.
Futures for the Dow Jones Industrials dipped 13 points to 45,562.
Futures for the S&P 500 squeezed up 5.75 points, or 0.1%, at 6,511.75.
Futures for the NASDAQ leaped 46 points, or 0.2%, to 23,846.25.
Nvidia and AMD traded slightly higher in the premarket. Apple shares dipped marginally ahead of an annual event in which the company is expected to unveil a new iPhone.
Elsewhere, GameStop and Oracle are set to report Tuesday after the close. Apple could also garner attention as it unveils its latest slate of devices, including a new iPhone.
Fox shares dipped nearly 3% after Lachlan Murdoch gained control of the media empire as the Murdoch family settled a dispute over the family trust. Dell Technologies shares slid 2% after Chief Financial Officer Yvonne McGill resigned, effective Tuesday.
Investors are now awaiting two key inflation reports that could determine what Federal Reserve policymakers will do at their meeting next week. Last week, a surprisingly weak jobs report added to hopes the path for interest rates is lower.
However, any surprising strength in the inflation readings could throw a wrench in that outlook. The August producer price index report is due out Wednesday morning, while the consumer price index is set to release on Thursday.
In Japan, the Nikkei 225 lost 0.4% Tuesday, while in Hong Kong, the Hang Seng gained 1.2%.
Oil prices captured 39 cents to $62.65 U.S. a barrel.
Gold prices forged ahead $11.10 at $3,688.50.10 U.S. per ounce.
