Higher Open in Cards for TSX

Mitel, Restaurant Brands in Focus

Canada's main stock index looked set to open higher on Tuesday as oil prices rose above $75.00 U.S. per barrel to their highest since November 2014.

The S&P/TSX Composite Index slid off its highs of the day, but gained 56.69 points to conclude Monday at 15,541.01

The Canadian dollar inched up 0.11 cents to 77.97 cents U.S. early Tuesday

June futures gathered 0.3% Tuesday.

Mitel Networks said on Tuesday it would be bought by an investor group led by Searchlight Capital Partners in a deal valued at about $2 billion, including debt.

Burger King owner Restaurant Brands International reported a better-than-expected first-quarter profit on Tuesday as more diners visited its fast food restaurants.

Teck Resources, the world's second-biggest exporter of steelmaking coal, reported on Tuesday higher-than-expected adjusted first-quarter earnings as sales volumes climbed.

BMO cut the target price on Canadian Utilities to $37.00 from $39.00

CIBC cut the rating on Hydro One to neutral from outperform.

ON BAYSTREET

The TSX Venture Exchange docked 8.06 points, or 1%, Monday to 796.30

ON WALLSTREET

Stock index futures pointed to a strong open on Tuesday as major biggest companies reported better-than-forecast quarterly results.

Futures for the Dow Jones Industrial Average leaped 153 points, or 0.6%, to 24,566

S&P 500 futures acquired 15.5 points, or 0.6%, to 2,686.75, while futures for the NASDAQ composite index gained 34 points, or 0.5%, to 6,701

Earlier on Tuesday, Eli Lilly, United Technologies, Verizon, Caterpillar and Coca-Cola reported quarterly earnings and revenue that beat Wall Street estimates. Google-parent Alphabet also topped expectations, according to results posted Monday after the bell.

In economic data, the Philadelphia Fed's non-manufacturing business outlook survey was scheduled to be released at 8:30 a.m. ET, followed by S&P/Case-Shiller house price index and the FHFA house price index at 9 a.m. ET. At 10 a.m. ET, new U.S. home sales, consumer confidence and the Richmond Fed Survey of Manufacturing Activity are all scheduled to be published.

In geopolitics, French President Emmanuel Macron is due to meet President Donald Trump as he continues his state visit to the U.S. While security, trade and strengthening cooperative ties are likely to be up for discussion, a key topic of importance to investors is the future of the Iran nuclear deal.

In Japan, the Nikkei 225 moved up 0.9%, while in Hong Kong, the Hang Seng Index climbed 1.3%.

Oil prices picked up 26 cents to $68.90 U.S. per barrel.

Gold prices improved $3.60 to $1,327.60 U.S. an ounce.