Futures in Canada’s largest equity market were higher on Tuesday as heavyweight energy sector was boosted by oil prices trading near five-month highs.
The S&P/TSX Composite Index soared 63.64 points to close Monday at 15,236.67
September futures gained 0.1% Tuesday morning.
The Canadian dollar slid 0.08 cents to 81.36 cents U.S. Tuesday morning.
Air Canada raised the higher end of a key profit metric and set new loyalty program targets for 2018 to 2020.
Credit Suisse cut the target price on Africa Oil Corp. to $2.00 from $2.80
On the economic slate, Statistics Canada reported that manufacturing sales decreased 2.6% to $52.5 billion in July, following a 1.9% decline in June.
ON BAYSTREET
The TSX Venture Exchange demurred 2.88 points by Monday’s close to 776.78
ON WALLSTREET
U.S. stock index futures pointed to a mixed open on Tuesday as traders awaited a Federal Reserve meeting for further clues on monetary policy.
Futures for the Dow Jones Industrials gained 13 points, or 0.1%, to 22,312. S&P 500 futures took on 7.25 points, or 0.3%, to 2,504.50, while futures on the NASDAQ Composite index fell 2.75 points, or 0.1%, to 5,992.50
On the earnings front, AutoZone posted better-than-expected results. Adobe Systems, FedEx and Bed Bath & Beyond are among the major companies due to report after the market close.
On the data front, Tuesday will see housing starts, import and export prices and current account data released this morning.
Later on Tuesday, the U.S. central bank is poised to begin a two-day meeting. The Fed could announce plans to begin unwinding its $4.2-trillion portfolio of Treasurys and mortgage-backed securities.
Overseas, markets in Europe were flat approaching noon local time, while Japan’s Nikkei 225 returned from a long weekend to leap 2%, and CSI 300 in Shanghai ducked 0.3%.
Oil prices gained 34 cents to $50.25 U.S. per barrel.
Gold prices advanced 40 cents at $1,311.20 U.S. an ounce.
