Futures linked to Canada's main stock index edged lower on Tuesday as gold prices retreated, while investors looked ahead to quarterly results from major banks.
The TSX dropped 41.01 points to conclude Monday at 33,776.50.
March futures settled 0.2% Tuesday.
Canada's largest banks are expected to report another quarter of strong earnings, with Bank of Nova Scotia to kick off the first-quarter earnings this morning before the bell.
In corporate news, energy firm Whitecap Resources reported quarterly results after the bell on Monday, beating analysts' estimates.
ON BAYSTREET
The TSX Venture Exchange gained 8.46 points to 1,051.12
ON WALLSTREET
Stock futures were slightly higher on Tuesday, led by gains in Advanced Micro Devices, after a rough start to the final week of February’s trading.
Futures for the Dow Jones Industrials sprang 122 points, or 0.3%, to 48,971.
Futures for the S&P 500 notched ahead 9.5 points, or 0.1% to 6,861.
Futures for the NASDAQ added 83 points, or 0.3%, to 24,845.75.
Shares of AMD jumped 13% in early trading after Meta announced a multiyear deal with the semiconductor company.
The new partnership entails deploying up to six gigawatts of AMD’s graphics processing units for artificial intelligence data centers. Meta will also invest in AMD through a performance-based warrant that translates to up to 160 million shares of AMD.
Major averages fell Monday on renewed fears of AI disruptions to various industries. President Donald Trump’s threat to hike global tariffs to 15% and tensions between the U.S. and Iran also kept traders on edge.
A global 10% U.S. tariff took effect Tuesday. However, Bloomberg News reported, citing an administration official, that the White House was moving forward with a formal increase to 15%.
Software stocks such as Microsoft and CrowdStrike were notable losers during the session, along with cybersecurity stocks and a slate of financial sector names.
Heading into Tuesday, traders will keep an eye on a key event hosted by artificial intelligence firm Anthropic, the company behind Claude. Anthropic is expected to make new product announcements and demonstrate Claude’s latest features.
Anticipation of the event — and the additional disruption it could bring — contributed to declines in the software space on Monday.
Japanese markets returned to trading Tuesday, as the Nikkei 225 gained 0.9%, while in Hong Kong, the Hang Seng dropped 1.8%.
Oil prices dipped one cent to $66.30 U.S. a barrel.
Gold prices declined $47.50 to $5,178.10 U.S an ounce.
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