Futures linked to Canada's main stock index edged higher on Tuesday as reports of mediation efforts in the Middle East conflict lifted sentiment, while investors assessed fresh U.S. tariffs on Canadian imports.
The TSX cratered 303.53 points to conclude Monday at 34,960.32.
September futures increased 0.2% early Tuesday.
The Canadian dollar inched up 0.05 cents to 71.12 cents U.S.
U.S. President Donald Trump imposed 50% tariffs on a broad range of Canadian imports, citing what the administration described as Canada's discriminatory treatment of American-made vehicles, alcohol and dairy products
In a separate development, Britain's new government is expected to invite Canada to join the delayed Global Combat Air Programme fighter-jet project, as European allies seek to reduce dependence on U.S. defence equipment and technology.
ON BAYSTREET
The TSX Venture exchange sank 5.12 points Monday to 849.77.
ON WALLSTREET
Stock futures climbed Tuesday, as investors look through the latest developments in the Iran war to focus on corporate earnings updates.
Futures for the Dow Jones Industrials bounced 191 points, or 0.4%, to 52,264
Futures for the S&P 500 picked up 32.35 points, or 0.4%, to 7,516.50
Futures for the NASDAQ Composite sprang up 355.5 points, or 1.2%, to 29,134.25
3M shares jumped more than 7% after the industrial giant posted better-than-expected earnings for the second quarter.
General Motors also reported a beat on the bottom line, lifting the stock by 2%. The reporting period is off to a strong start. Of the roughly 54 S&P 500 names that have reported, 87% have topped bottom-line estimates.
Big names set to report later this week include Alphabet, IBM and Tesla.
Semiconductors also gave a boost to the broader market in early trading. Marvell Technology and Micron Technology each climbed 6% before the bell, along with Astera Labs. Intel advanced more than 5%.
Central Command has carried out its 10th consecutive night of strikes on Iran since President Donald Trump declared the ceasefire “over,” while Tehran’s forces have struck U.S. military assets across the Middle East and its Houthi allies have declared a maritime embargo against Saudi Arabia.
In Japan, the Nikkei 225 returned to trading after a long weekend to gain 3.3%, while in Hong Kong, the Hang Seng eased 0.04 points.
Oil prices jumped $1.11 to $84.34 U.S. a barrel.
Gold prices leaped $46.40 to $4,062.30 U.S an ounce.
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