Futures for Canada's main stock index rose on Tuesday, as better corporate earnings lifted investor sentiment.
The S&P/TSX Composite Index gained 96.01 points to conclude Monday at 15,602.32
The Canadian dollar ditched 0.02 cents at 76.22 cents U.S. early Tuesday
March futures sparked 0.3% Tuesday.
WestJet Airlines on Tuesday reported a quarterly profit that beat analysts' estimates, as a rise in passenger traffic helped offset an increase in overall expenses.
HMV, the British music retailer that collapsed after Christmas, has been sold to the owner of Canada's Sunrise Records in a deal that will save 100 stores and nearly 1,500 jobs
Barclays cut the price target on Imperial Oil to $45.00 from $46.00
RBC cut the rating on Norbord to outperform from top pick.
CIBC raised the price target on Pembina Pipeline to $54.00 from $52.00
On the economic docket, as a partial result of the U.S. government shutdown, Statistics Canada reported Tuesday that the February 5 release for the December 2018 reference month will not occur as originally planned and will be released at a later date.
ON BAYSTREET
The TSX Venture Exchange gained 2.4 points Monday to 625.26
ON WALLSTREET
U.S. stock index futures moved higher Tuesday morning in pre-market trade, as investors looked ahead to another set of corporate results and a key speech from President Donald Trump.
Futures for the Dow Jones Industrial Average advanced 91 points, or 0.4%, at 25,279.
Futures for the S&P 500 picked up 5.5 points, or 0.2%, to 2,726.75
NASDAQ futures added 23.5 points, or 0.3%, to 6,961
Disney, Electronic Arts, Snap and Spirit Airlines are among the companies scheduled to report after the bell Tuesday. These reports come after Google-parent Alphabet reported better-than-expected earnings on Monday. However, shares of the tech giant fell 2% in the pre-market as the company also revealed declining advertising prices and rising costs.
Archer Daniels Midland fell 2% after reporting weaker-than-expected earnings and revenue. Estee Lauder, meanwhile, jumped 9.4% on better-than-expected results. The company also raised its 2019 earnings guidance.
President Trump will address the Congress with his 2019 State of the Union Speech later Tuesday. Money managers will be looking for comments on trade and the broader U.S. economy.
On the data front, investors are likely to monitor services Purchasing Managers’ Index and Institute for Supply Management non-manufacturing numbers, due out later this morning.
Overseas, in Japan, the Nikkei 225 declined 0.2% Tuesday, while in Hong Kong, markets were closed for the Lunar New Year.
Oil prices settled 40 cents to $54.16 U.S. a barrel.
Gold prices faded $1.50 to $1,317.80 U.S. an ounce.
