Stock futures pointed to a lower opening for Canada's main stock index on Tuesday after a six-day run of gains.
The S&P/TSX Composite Index squeezed higher 11.14 points to conclude Monday at 16,407.29, to run its streak of gains to six straight sessions, however narrowly.
The Canadian dollar advanced 0.14 cents to 75.25 cents U.S. early Tuesday
June futures lost 0.04% Tuesday.
Toronto-based Restaurant Brands International reported that its Burger King subsidiary pulled a promotional video in New Zealand showing customers trying to eat burgers with chopsticks after it sparked an outcry in China and demands for an apology from the U.S. fast food chain.
RBC raised the target price on BCE Inc. to $61.00 from $60.00
Canaccord Genuity raised the rating on Nuvista Energy to "buy" from "hold"
ON BAYSTREET
The TSX Venture Exchange added 2.48 points Monday to 632.29
ON WALLSTREET
U.S. stock index futures indicated a slight decline ahead of the opening bell Tuesday as investors awaited the start of corporate earnings season later this week.
Futures for the Dow Jones Industrial Average dipped 21 points, or 0.1%, to 26,313.
Futures for the S&P 500 slipped 3.25 points, or 0.1%, at 2,895
NASDAQ futures dropped 10.25 points, or 0.1%, to 7,613.25
Market focus is centered on corporate earnings results, with major U.S. banks set to kick off the first-quarter earnings season later in the week. J.P. Morgan Chase and Wells Fargo are both poised to report their latest figures on Friday, while Citigroup and BlackRock are scheduled to publish their results next week.
Bank of America, which will also report earnings next week, said Tuesday that it's raising its minimum wage for its employees to $20 an hour. The minimum wage at the company will be raised to $17 effective May 1 and will increase in increments over the next two years.
Apple, one of the largest public companies in the world, is on track for its 10th straight day of gains. If the stock closes in positive territory Tuesday, it will be Apple's first 10-day win streak since 2010.
Wall Street expectations for this earnings season imply a significant reduction to corporate profit growth in comparison to recent quarters.
Investors anticipate first-quarter S&P 500 earnings growth to slip 4.3% on a year-over-year basis. If that forecast proves accurate, it would be the first profit contraction for the S&P 500 since the second quarter of 2016.
S&P 500 revenues are expected to grow just under 5%.
Disney shares rose in pre-market trading Tuesday after brokerage Cowen upgraded the Dow component and told clients that its film pipeline should boost profits over the next few years.
On the earnings front, Levi Strauss will be reporting its first results since its IPO (initial public offering).
The U.S. Labor Department will publish its JOLTS report on 10 a.m.; the update will offer investors a fresh glance at job openings throughout the U.S. economy.
Trade tensions between the U.S. and the European Union intensified Tuesday following a World Trade Organization ruling over subsidies for Airbus. The WTO ruled last year that the subsidies caused "adverse effects to the U.S.," prompting Washington to consider $11 billion worth of retaliatory tariffs on a range of European goods.
But Brussels on Tuesday responded to the prospective U.S. levies by saying it's ready to respond in kind.
Overseas, in Japan, the Nikkei 225 gained 0.2% Tuesday, while in Hong Kong, the Hang Seng Index picked up 0.3%.
Oil prices inched up four cents to $64.44 U.S. a barrel.
Gold prices gained $4.30 to $1,306.20 U.S. an ounce.
