Futures tracking Canada's resources-heavy stock index edged higher on Tuesday as gold prices gained following Iran's refusal to reopen the Strait of Hormuz ahead of U.S. President Donald Trump's deadline to meet his demands.
The TSX gained 73.75 points to close Monday at 33,181.97.
June futures poked up 0.1% Tuesday.
The Canadian dollar settled 0.06 cents to 71.82 cents U.S.
On the economic side, the IVEY PMI for March is due out at 10 a.m. EDT Tuesday.
ON BAYSTREET
The TSX Venture Exchange was positive 4.08 points to 981.51.
ON WALLSTREET
Stock futures fell on Tuesday as President Donald Trump’s deadline for Iran to reopen the Strait of Hormuz approached, with hopes of an agreement fading.
Futures for the Dow Jones Industrials collapsed 175 points, or 0.4%, to 46,727.
Futures for the S&P 500 fell 25 points, or 0.4%, to 6,626.
Futures for the NASDAQ slumped 124.25 points, or 0.5%. to 24,233.75.
The Wall Street Journal reported that negotiators aren’t optimistic a deal between the U.S. and Iran can be reached before Trump’s deadline.
On Monday, Trump reiterated his warning that the U.S. will destroy Iran’s power plants and bridges if the nation does not reopen the Strait of Hormuz by 8 p.m. ET on Tuesday. Trump said in a news conference on Monday that he had decided to extend the deadline to Tuesday because he “thought it was inappropriate the day after Easter.”
“They have ’til tomorrow,” Trump said. “Now we’ll see what happens. I can tell you, they’re negotiating, we think in good faith, we’re going to find out. We’re getting the help of some incredible countries that want this to be ended, because it affects them also.”
Shares of Casey’s General Stores added 1% on Monday night, ahead of the convenience store chain’s planned addition to the S&P 500.
In Japan, the Nikkei 225 edged ahead 16 points Tuesday, while in Hong Kong, markets remain shut for the Easter holiday.
Oil prices advanced $2.30 to $114.71 U.S. a barrel.
Gold prices dulled $22.50 to $4,662.20 U.S an ounce.
