Canada's main stock index futures rose on Tuesday, with help from the Chinese central bank's 255-billion yuan injection into the market that calmed investor worries about a credit crunch in its economy.
The S&P/TSX composite index galloped ahead 102.08 points to close Monday at 13,990.29. Futures were up 0.06%.
The Canadian dollar fell another 0.45 cents to 90.91 cents U.S. early Tuesday
Fertilizer company Agrium Inc said its fourth-quarter earnings from continuing operations will be at the lower end of its guidance due to lower sales prices.
CIBC raised the price target on Raging River Exploration to $9.75 from $8.25, based on better-than-expected production results, viewing the company as one of the most attractive in the space.
CIBC cut the price target on Strategic Oil and Gas to 65 cents from 95 cents, citing the company's lower-than-expected fourth-quarter production figures and its lower 2014 volume outlook, but adding it has yet to deliver consistent results out of its key growth play.
On the Canadian economic calendar, manufacturing sales stayed hot, jumping 1.0% in November to $50.5 billion, their sixth advance in seven months. Wholesale sales were unchanged in November at $50.4 billion.
ON BAYSTREET
The TSX Venture Exchange remained positive 3.40 points Monday to 979.74.
ON WALLSTREET
Investors were returning to markets in an upbeat mood Tuesday as trading resumes after a holiday break.
Ahead of the opening bell, futures for the Dow Jones Industrials took on 78 points, or 0.5%, to 16,475. Futures for the S&P 500 added six points, or 0.3%, to 1,840.30, and futures for the NASDAQ grew 17.25 points, or 0.5%, to 3,602. Markets were closed Monday for Martin Luther King Day.
Tuesday morning kicks off with results from Johnson & Johnson, Verizon and Delta. IBM is expected to deliver its results after the closing bell. A spate of company earnings will follow later this week.
European markets posted slight gains in morning trading, with Germany's DAX and London's FTSE 100 adding 0.2%.
Asian markets rose Tuesday, supported by China's central bank injecting billions into the financial system to boost liquidity.
China's Shenzhen Composite Index climbed 1.5% following stellar trading debuts of eight Chinese firms, which are among the first handful of companies allowed to list in China since the government ended a 14-month IPO ban.
Japan's Nikkei 225 gained 1%
Oil prices moved higher 23 cents to $94.60 U.S. a barrel
Gold prices subtracted $7.60 to $1,244.30 U.S. an ounce.
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