Stock futures for Canada's main stock index were lower on Tuesday, after U.S. President Donald Trump said he expected to raise tariffs on Chinese imports, quashing hopes of a trade truce between the two countries.
The S&P/TSX Composite Index hung onto gains of 1.92 points to finish Monday at 15,012.65
The Canadian dollar inched up 0.06 cents at 75.51 U.S. early Tuesday
December futures moved back 0.2% Tuesday.
Bank of Nova Scotia reported fourth-quarter earnings marginally below expectations and said it planned to exit nine countries in the Caribbean as part of a shakeup of that business.
Maple Leaf Foods said on Monday it plans to set up a $660-million poultry processing plant in Ontario with investments from the federal and the provincial governments.
The feds also passed back-to-work legislation that will end the postal workers' strike, which lasted for more than a month, as the holiday season kicked off.
ON BAYSTREET
The TSX Venture Exchange slumped 9.05 points, or 1.5%, Monday to 593.10
ON WALLSTREET
U.S. stock index futures fell ahead of Tuesday's open as President Donald Trump's comments cast doubt about a deal being struck on U.S.-China trade.
Futures for the Dow Jones Industrials weakened 106 points, or 0.4%, to 24,493.
S&P futures stepped back 12.25 points, or 0.5%, to 2,657.75, while the NASDAQ Composite retreated 46.75 points, or 0.7%, to 6,626.50.
In an interview with the Wall Street Journal, Trump said that it was "highly unlikely" that the U.S. would delay from a tariffs increase to 25%, in regards to $200 billion worth of Chinese goods.
Trump went onto suggest that a 10% tariff on laptops and iPhones imported from China could be imposed. The president's comments come ahead of an all-important summit between leaders of the G-20, which includes both Trump and China's Xi Jinping.
Shares of Apple dropped 2% in the pre-market, along with other popular tech stocks like Facebook, Amazon, Netflix and Google-parent Alphabet.
Dow member United Technologies shares bucked the negative trend in the pre-market, rising more than 1% after the company announced Monday evening it will split up its aerospace, elevator and air-conditioning businesses. The company said it expects the separation to be completed by 2020.
Meanwhile, the latest S&P Corelogic Case-Shiller home price index is expected to come out at 9 a.m. ET, followed by consumer confidence figures at 10 a.m. ET.
Overseas, in Japan, the Nikkei 225 gained 0.6% Tuesday, while in Hong Kong, the Hang Seng index stepped back 0.2%
Oil prices faded 31 cents to $51.32 U.S. a barrel.
Gold prices gained $1.30 to $1,223.70 U.S. an ounce.
