Equity markets in Canada’s biggest centre looked set to open flat to slightly lower on Tuesday even as investor optimism for 2014 driven by ultra-easy monetary policies and an improving global economic outlook pushed global markets higher.
The S&P/TSX composite index dipped 6.59 points to close Monday at 13,581.39, with futures down 0.2%.
Experts say the TSX is on track for a 9% gain on the year.
The Canadian dollar gained 0.14 cents to 94.04 cents U.S. early Tuesday
National Bank Financial cut the target price on Sherritt International to $4.40 from $4.75 following the company's announcement to sell its coals operations to Westmoreland Coal Co and its and royalty business to Altius Minerals Corp.
ON BAYSTREET
The TSX Venture Exchange gained 2.14 points to 921.17
ON WALLSTREET
The final trading day of 2013 could be off to a strong start Tuesday as investors prepare to say farewell to a stellar year on U.S. markets.
Ahead of the opening bell, futures for the Dow Jones Industrials gained 22 points, or 0.1%, to 16,461. Futures for the S&P 500 picked up 2.9 points, or 0.2%, to 1,837.60, and futures for the NASDAQ took on 4.25 points, or 0.1%, to 3,570.
Over the course of December, the main U.S. stock market indexes have risen by 2% to 3%. This caps off a record-setting year that saw the NASDAQ surge nearly 40% to hit a 13-year high, while the Dow and S&P 500 both hit record highs.
Shares for Hertz jumped in pre-market trading after the car rental company announced measures to limit the amount of shares held by individual investors, to prevent any one investor or group from gaining control of the company.
There are a few economic data releases that could influence market sentiment in the day ahead.
The latest edition of the Case-Shiller 20-city home price index will be released Tuesda morning, likewise, the Conference Board will release its monthly consumer confidence index.
European markets were inching ahead in midday trading. The exchanges in London and Paris are set for an early close, while the stock exchange in Frankfurt was closed.
Asian markets ended with mixed results and markets in Tokyo were closed. Japan's benchmark Nikkei 225 index rounded out 2013 with its biggest annual rise in more than 40 years.
Oil prices settled 57 cents to $98.72 U.S. a barrel
Gold prices shed six dollars at $1,197.80 U.S. an ounce.
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